For years, politicians have sought a solution that would keep the Preakness in Baltimore. After months-long negotiations between the City of Baltimore and the track owners, a complex deal has been struck between the two parties to keep the race in Baltimore and to ensure both Pimlico and Laurel Park are renovated.
This is great if you think that the City of Baltimore’s most important goal is to keep the Preakness and that they should be facilitating a big payday for the Stronach Group. But here’s the thing which is the biggest problem for Maryland taxpayers: the state would be on the hook to provide $375 million in funding by floating bonds for the project, a tiny-problem that would require a number of changes in state law.
If you’re thinking “this is a bad deal for Maryland taxpayers,” you’re right.
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DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
3 comments:
Reject the Preakness deal let them move out of the ghetto. Marylanders don't need to keep subsidizing them which leads to more subsidies for Baltimore. This would save MD tax dollars and Baltimore will quit getting subsidies they put in their pockets instead of spending as required.
Complex deal only corrupt elites can understand.
Never trust anything the politicians want to do in Baltimore
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