There are still a lot of financing issues that have to be settled before construction of the dome and convention center can begin construction. I think that it will be difficult to finalize the financing portion because of the many objections to the project from people or groups that can derail the project.
http://www.al.com/news/birminghamnews/index.ssf?/base/news/1098869048252570.xml
BJCC offers to settle stadium tax lawsuits
Asks county, city for $10 million yearly for 35 years
Wednesday, October 27, 2004
ERIC VELASCO
News staff writer
Birmingham-Jefferson Convention Complex officials offered last week to settle lawsuits over taxes earmarked for a domed stadium if the county and city each commit $10 million yearly for 35 years for the dome.
County Commission President Larry Langford learned about the offer Tuesday, hours after the commission set a Jan. 1 deadline for the BJCC to line up all its financial backers; otherwise, the county would pull its money from the dome project. The county already is committed to $10 million a year, but it is unclear how long that commitment extends.
Commissioners Mary Buckelew, Gary White and Bettye Fine Collins also said Tuesday they would not support any further funding commitments for the dome after Jan. 1.
Langford said the settlement offer illustrates why dome backers have had so much trouble nailing down money for the $498 million, 70,000-seat domed stadium and 240,000 square feet of convention space....
Birmingham and Jefferson County governments had challenged the constitutionality of two 2003 tax bills that together would raise about $3.8 million a year toward financing the dome. One imposed a "user's fee" at the BJCC that would be paid instead of sales tax. The other allowed the BJCC to get proceeds from a tax on some alcoholic beverages sold in Jefferson County restaurants. Under those two bills, the county stands to lose $1 million in sales tax from the BJCC, and the city $2 million.
But in April, Jefferson County Circuit Judge J. Scott Vowell threw out the two tax bills, saying the Legislature didn't have enough members present to pass them...
Frank Poe, BJCC's executive director, said he had no problem with the commission's Jan. 1 deadline, saying it mirrored an informal policy the BJCC board already had established...
Poe noted that Birmingham Mayor Bernard Kincaid has said he will ask the City Council for an additional $5 million a year and said he believes Gov. Bob Riley will provide $5 million a year by the end of the year.
But the Birmingham City Council already has balked at Kincaid's desire to add $31 million in spending on other projects not included in the budget the council passed in late June. Kincaid said Tuesday he would approach the council for dome money "at the proper time" after "getting some ducks in a row...."
The commission threatened to yank dome money earlier this year during a dispute with the county legislative delegation over transit funding. Legislators responded with a bill that would have forced a $10 million commitment through 2038. It passed the House but died in the Senate.
White, who said he never has favored the dome... doesn't believe that the dome, which voters rejected in 1998, has the support of either the public or business. The 1998 vote was on the Metropolitan Area Projects Strategy, or MAPS, a series of civic improvements that included a domed stadium....
Collins said... would not vote for any continued funding unless it were put to a vote of the people.
"In my district, people are outraged that we seem to be implementing MAPS piece by piece when they already have voted it down," she said.