Ten Myths of the Legend of NFL Stadium Myth #1: IT’s Good for Walnut and Diamond Bar It’s not good for Walnut or Diamond Bar. It’s only good for the personal pockets of the developer and City of Industry!! Myth #2: Thousands of new jobs, millions in new revenue The new jobs will be minimum wage jobs. Independent studies show that local revenues fall after a stadium comes in. See FAQ for 01/15/2009. The only ones who benefit are the developer, City of Industry, and the teams themselves Myth #3: Pump Up The Economy! Money will migrate from Walnut and Diamond Bar businesses and other surrounding cities to the City of Industry. In the end, many existing local business will lose revenue. Walnut and Diamond Bar city tax revenue will be lost forever!!!! Myth #4: Located in the City of Industry, the complex will be home to restaurants, movies, entertainment, parking, offices, a state- of-the-art medical facility and two National Football League teams – all contributing new life to our valley economy. The complex would contribute instead to pollution, traffic congestion, noise pollution, and crime. The rural way of life for Walnut and Diamond Bar will be destroyed. We will get more motels, liquor stores, and a jail too! The so call “state-of-the-art medical facility” is actually a “sports medical center” catering to injured football players!!! Myth #5: No tax money will be used to build the complex But the City of Industry passed a $ 500 million bond measure, by 78 voters, to mitigate stadium related impacts such as widening roads to accommodate event traffic, and the developer is relying on $ 245 million of state and federal funds for freeway improvements. These are all public dollars supported by you and me, the taxpayers. Myth #6: Majestic Realty developed the “Staples Center” – turning a blighted area of Los Angeles into a thriving economic powerhouse. Walnut and Diamond Bar are not “blighted areas” waiting for Majestic Realty to “rescue.” The area proposed for the stadium has green rolling hills where one can see cows grazing on the slopes. The bedroom communities of Walnut and Diamond Bar will be destroyed by the stadium project, along with the beautiful hills and our quality of life. Our communities will then become what Majestic Realty described as “blighted areas” AFTER the stadium is built!!! Myth #7: “…the Majestic Realty Foundation has already donated over $2.4 million to community service organizations throughout the San Gabriel Valley – including Mt. San Antonio College and youth sports groups here in Walnut and Diamond Bar. The truth is that residents of Walnut and Diamond Bar will have to pay higher taxes for road widening. We will sacrifice our rural ways of life and suffer depreciation in the values of our homes. The best charity work from Majestic Realty would be NOT to build the proposed stadium and NOT to destroy our children’s lives and health!!! Myth #8: Help score an economic “touchdown” for Walnut and Diamond Bar by uniting in support of the Los Angeles Stadium – a major economic boost for our community. Unfortunately, the development will do much damage to our community, including siphoning business away from our local shops and businesses. It will be an economic “meltdown” and not “touchdown.” Myth #9: Join the Team – Return your attached “stadium supporter” card to-day! Yes, do return the card to-day and write in block letters: “THANKS, BUT NO THANKS.” Myth #10: “THIS PROJECT IS A WINNER FOR WALNUT & DIAMOND BAR!” “New jobs, new revenue, more entertainment and professional sports.” Heidi L. Gallegos, CEO, Regional Chamber of San Gabriel Valley “The lone beneficiaries of sports subsidies are team owners and players." "Our conclusion, and that of nearly all academic economists studying this issue, is that professional sports generally have little, if any, positive effect on a city’s economy. The net economic impact of professional sports in Washington, D.C., and the 36 other cities that hosted professional sports teams over nearly 30 years, was a reduction in real per capita income over the entire metropolitan area." From the Cato Institute.
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