Once again another one of Louisville's major businesses is seeking government assistance with expansion or renovation plans! Now the Galt House is jumping onthe bandwagon. With all the weight this wagon has on it,I hope it does'nt get stuck. Churchill Downs,Any professional sports team, and The Galt House now need public financing to improve the facilities and increase their corporate profits. Now don't get me wrong these are all Louisville landmarks or hope to be soon in the case of professional sports. But should we give tax relief to these type of projects. We(the taxpayers) have built a convention center adjacent to the Galt House making it very convenient for room occupancy at this hotel. Why should we do more. What does it profit the city or the taxpayer. They claim their occupancy rate is full already. Churchill Downs wants 30 million to renovate their clubhouse and grandstand area leaving only the Twin Spirals intact. Yet when they bought 5 racetracks around the country they didnt need help getting the money to buy them. Their revenues are up 16.8% from last year,their stock rating hasgone from a hold to a buy, and have sold 3 million shares at about $25 a share. That's almost 60 million in some form of cash to them. But the taxpayer's should help with the cost of a new grandstand! This is a disscussion section so I will stop here and give someone else a chance to speak their mind now.
Paul Bloodsworth
Maybe this will be the topic of disscusion at the next neighborhood meeting November 19, 2001 at SLNA office 2824 South 4th St @7:00 PM
Paul Bloodsworth
Maybe this will be the topic of disscusion at the next neighborhood meeting November 19, 2001 at SLNA office 2824 South 4th St @7:00 PM
