July 6, 2007

Private vs. Public

So, a non-major city wants to bring in a minor league baseball team and build a brand new ball-park in the downtown area. No private companies have made this investment so far, because they don't believe that ticket revenues, etc. would make up for the huge cost of the stadium and believe it to be a non-viable investment decision. What other financial considerations need to be looked at before a city nixes the idea of taking on this project with city money?