Keep on TIFing

The special privileges built into our tax system are more complicated, regressive, and untenable than Ancien Regime France. Of course that doesn't stop our elites from figuring ways to slice out more parts of the pie before it explodes.

Under current agreements with the Louisiana Stadium and Exposition District that control the Dome and the New Orleans Arena, where the Hornets play, there is no sales tax on food or drinks bought at either facility. This means that without a way to lure crowds out of the arenas for food and drink, the city loses millions of dollars a year in potential tax revenue. A new district could potentially help with that conundrum, though such sports districts have not been as successful as hoped in other cities and the development itself could cost billions. The only developer other than Benson who has stepped in, Domain Cos., has already said that “public support” will be needed to realize its vision.

Where that public support will come from is unclear. Domain has suggested a “payment in lieu of taxes” agreement or a tax-increment-financing plan, both of which would dedicate tax revenue to private development.

I'm sure Saints fans in Champions Square would love to pay an extra 3 or 4 percent on top of their $9.00 beer price so that these guys can get their kickback.