New Yorkers Face $850 Million Tab for Buffalo Bills New Digs
Many people that live in the Empire State think that taxes are too high. Especially, following the pandemic, the average taxpayer is tapped. Well, New Yorkers about to get another tab put on their bill by the Bills, no less!
The Buffalo Bills have been lobbying the State of New York for a new facility, including a state-of-the-art football stadium, outdoors of course. Highmark Stadium does not feature the amenities that most NFL stadiums take for granted, especially corporate hospitality. According to reports by The Athletic and the AP, that looks like Buffalo is going to get its wish.
From the reports from the Associated Press on Monday, New York State and county taxpayers will be asked to commit $850 million in public funds toward construction of the Buffalo Bills’ new stadium, which has a state-projected price tag of $1.35 billion.
The report says that the overall cost is considered to be the largest public commitment for an NFL facility, with the Bills and the league picking up the rest of cost. The figure was revealed as the Bills prepared to present their stadium proposal at league owners meetings in Florida.
The report said that owners were scheduled to "vote on the proposal as well as approve granting the Bills what’s called a $200 million G4 loan to go toward construction costs. Under the G4 program rules, Bills owners Terry and Kim Pegula would be required to at least match the loan. NFL approval would mark the first key step in a critical week for a project. The parties are closing in on reaching a formal agreement, with details of the plan remaining a closely guarded secret." The $850 million of taxpayer commitment would represent about 63% of the projected cost of construction.