$56M Minor League Baseball Stadium May Be Losing Deal For Rosemont
The financing model Rosemont is using has never generated enough new property-tax money for other towns to pay back their bonds, according to Nola Agha, a University of San Francisco professor who studies the financial impact of minor-league baseball stadiums. Also, she says, teams themselves aren’t a big tax base. However, Rosemont may be in a better position than other towns to absorb a loss. The village has only about 4,000 residents, but lots of airport hotels and related businesses paying local taxes. Mayor Brad Stephens recently accepted a 53 percent raise. He earns more money than Chicago Mayor Rahm Emanuel.