BUS364 Assignment facility
financing proposals
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There are
several notable legal issues related to facility financing proposals, team
relocation, and property acquisition for new stadiums and arenas. The purpose
of this assignment is to analyze facility financing legal issues involved in
prefinancing, postfinancing, and eminent domain.
In
1,000-1,250 words, address each facility financing issue listed below:
Prefinancing
Since
taxpayers often bear a significant bulk of the cost relative to facility
financing proposals, it has become fairly common for new stadium proposals
involving public financing to be challenged in the courts. Groups who challenge
stadium financing proposals make three primary legal arguments. Identify and
explain each of these arguments, citing at least two specific cases.
Postfinancing
There are
additional legal challenges that arise after a stadium has been financed and
built because a team threatens to leave for another city with a newer stadium
or arena. Identify two specific examples of cities exercising their contractual
rights under the stadium or arena lease agreements either to prevent a team
from leaving or to slow its departure.
Eminent
Domain
Modern day
stadium or arena projects commonly include hotels, restaurants, shopping malls,
and other commercial developments. In these types of projects, the privately
held surrounding commercial and residential properties are vulnerable to being
taken over by the city or county. Explain the concept of eminent domain and
provide one example of a notable eminent domain controversy.
You are
required to reference at least two academic resources for this
assignment.
Prepare
this assignment according to the guidelines found in the APA Style Guide,
located in the Student Success Center.
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