HomeNewsColiseum Authority is exploring New Market Tax Credits to fund new James...

Coliseum Authority is exploring New Market Tax Credits to fund new James Brown Arena

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There may be an answer for how to help pay for development of a new James Brown Arena.

The Augusta-Richmond County Coliseum Authority has entered into an agreement with ILS Corporate Services, LLC of New York to explore using New Market Tax Credits to help pay for the project.

NMTC is a progr...

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2 COMMENTS

  1. OK, we are spending $17,500 when it is “not possible to project how much money will be generated for the project”. The return on this investment might be 0%, The NMTC funds could potentially be $2M, but the arena is projected to cost $240M, probably in pre-Biden dollars and without the usual capital project errors that Augusta always makes. $2M will not cover the inflation costs during design and construction of the new facility. However, if the $17,500 comes out of the mayor’s MBK slush fund (an existing sunk cost), go for it. Taxpayers will never get that money back.

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