The Baltimore Examiner Newspaper
2008-08-03 07:00:00.0
Current rank: Not ranked

What’s the real story on Baltimore’s incomprehensible decision to tear down 1st Mariner Arena and build a replacement on the site? The story better be good, because the numbers don’t compute.

Baltimore Development Corp. President M.J. “Jay” Brodie, Mayor Sheila Dixon and Gov. Martin O’Malley owe the people a better explanation for putting an 18,500-seat, $300 million arena on the downtown site.

Is a new arena really needed? Is it the top public investment priority right now? Will it pay for itself? Is the city-owned site the best possible location for the greatest number of citizens?

No, no, no, no.

The 45-year-old, 14,000-capacity blockhouse is booked about as close to solid as any venue can get. Its last three years were the most profitable ever. Manager IMG Inc., has an optimal mix averaging 7,500 patrons a night despite the second-highest amusement tax in America. The place is paid for, is in good basic shape except for cosmetics and is affordable for a wide range of users.

OK, but if we did need one, would we need it right now? No. Baltimore and Maryland have a lot higher priorities. The economy isn’t exactly booming, taxes are up and going higher, housing is down, business is struggling and all the experts say we haven’t found bottom yet.

If, by some miracle of reason or legerdemain, O’Malley, Dixon and Brodie can explain why we need one and why now, let’s hear them explain how they can pay for it without sticking their hands even deeper into our pockets. The current arena generates $3.7 million a year in tax revenue. Even if their $300 million estimate turns out to be something less than an hallucination, and they secure mythical interest-free financing, it will take 81 years to pay for.

Worst of all, how do they explain tearing down 1st Mariner and building on the same site? If it really only takes three years, the city still will lose $150 million in economic benefit and $10 million in taxes. Add that to the cost. While putting an arena in downtown half a century ago was a bold move helping a beleaguered city, that mission is accomplished.

Facts fail to support this project at this time in this place. The burden of proof is on O’Malley, Dixon and Brodie.

Until they prove otherwise, we can only assume their reason for replacing 1st Mariner serves some other interest than the greater public good. What is it?