Thursday, December 06, 2018

Taxpayers Will Pay $1 Million to Tear Down $18 Million Baseball Stadium That Predictably Failed to Rejuvenate Camden - Hit & Run : Reason.com

Taxpayers Will Pay $1 Million to Tear Down $18 Million Baseball Stadium That Predictably Failed to Rejuvenate Camden - Hit & Run : Reason.com:
"The stadium never turned a profit and the team skipped town when local officials decided to start charging rent.
..."Well, soon we will see a field of dreams right here in Camden, and my prediction is 'they will come,'" Whitman said.
Taxpayers spent more than $18 million to build the stadium that would eventually be named Campbell's Field...
Less than two decades later, taxpayers in New Jersey will pay another $1 million to tear down Campbell's Field.
The sad saga of the Camden Riversharks—the Atlantic League team for whom the stadium was built prior to the 2001 season—will come to an official end more than three years after the team picked up and moved to New Britain, Connecticut, leaving Campbell's Field vacant...
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For all that money, all the city got was a large concrete arch along the riverfront.

1 comment:

Jess said...

Foolishness is expensive, and the bondholders cross their fingers in the hope there won't be a default.