Pollin Receiveth And Giveth…But It’s Not For Everyone

The deal once again shows that DC enjoys a good raping from developers. The Verizon Center is no longer the sole engine of neighbhorhood development is Gallery Place, if it ever was at all. I tend to think it wasn’t. Research has shown that stadiums, arenas, and convention centers, all traditionally used as catalysts for development, really aren’t all that effective.

So why should the city shell out $50 million for Abe Pollin again?

The city isn’t really paying the $50 million – the Verizon Center patrons are. Pollin didn’t have the means to increase ticket prices, but the city is permitted to raise the ticket taxes. If Pollin could raise the ticket prices himself, he probably would have and this wouldn’t be a huge deal.

If you do not think the Verizon Center revitalized downtown you are nuts.

Abe Polin opened his own wallet to build the arena which was essentially in the middle of an area that should have been completely razed. It was unproductive land in the middle of a great city.

I am sure if you capitalize the tax base, on a 20 year depreciation schedule for the ten block radius you are looking at something paying off ten-fold.

Knocking Abe Polin for asking for an acceptable return on his investment is completely unfair.

Instead knock the Lerner’s who extracted a pound of flesh from the city without providing a thing.

“We at GPLiving have to reconsider our originally supportive view of the financing mechanism”? Are you kidding? Just because Pollin didn’t give a basketball to two council members?

Doesn’t sound like there was much thought behind supporting this in the first place.

chris – I believe Gallery Place wouldn’t have gotten started so quickly without the Verizon Center. no way to truly tell though.

gpliving – Pollin could (and at some point will) raise the ticket prices outside of the tax. he just wouldn’t be able to get his $50M (or whatever the bonds clock in at) up front.

olesh – we aren’t looking at Pollin for the $50M. we’re pointing out his actions towards the Council, as was the CityPaper.

cityliving – reconsideration isn’t equivalent to retraction nor a change in position. and, it’s not about the cost of 2 basketballs. I’ll spot him the $160 if he needs it [tic]. it’s what his actions tell us about how he treats the Council as a governing body. it’s all in the nuance.

LOL now that’s it’s been approved you’re going to reconsider your position?

i was here before it all happened and can tell you it was HORRIBLE and unsafe after 5 oclock before the verizon center.

rr 446 – I suggest you check the DC Council website. the VC upgrade bill (17-0117) has not been approved nor do I see an approval vote scheduled on the Council calendar for the next two weeks. the first reading out of committee was done on April 3 and that generated the WaPo story. hate to pick nits but there needs to be a second vote taken. the title and the text of the WaPo story say as much.

pqresident,

I didn’t say anything about the “cost” of the two basketballs or anything about “retraction.”

Either this was good for downtown in the first place or it wasn’t. Pollin’s petty behavior doesn’t change this and any “reconsideration” because of it is simply pettiness in return.

That’s okay, but it shows there wasn’t a lot of thought behind supporting this to begin with.

thanks for all the points posted. we’ve enjoyed the lively discussion.