Bailout: For Dash, math looks a little fuzzy
From Lenox Rawlings, Winston-Salem Journal: Ballpark bailouts and other notes:
Billy Prim, the developer with the Babe Ruth appetite for public money, insists that he will pay everything back one day. No problem.
According to his calculations, the Winston-Salem Dash can make the 25-year formula work by drawing 300,000 customers each season. For a 70-game schedule, that's 4,286 fans a night. No problem.
But maybe everything isn't so simple. By Prim's original calculations, the Peters Creek project was going to cost $22.6 million -- at least until he concluded that it would cost $40.7 million. Prim worked out a deal with supportive Mayor Allen Joines and other city officials for $15.7 million more, which the City Council approved Wednesday night.
Billy Prim, the developer with the Babe Ruth appetite for public money, insists that he will pay everything back one day. No problem.
According to his calculations, the Winston-Salem Dash can make the 25-year formula work by drawing 300,000 customers each season. For a 70-game schedule, that's 4,286 fans a night. No problem.
But maybe everything isn't so simple. By Prim's original calculations, the Peters Creek project was going to cost $22.6 million -- at least until he concluded that it would cost $40.7 million. Prim worked out a deal with supportive Mayor Allen Joines and other city officials for $15.7 million more, which the City Council approved Wednesday night.
posted by Andy W. Rogers | 7:41 AM
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