I haven't checked the forum for a while, so maybe I missed a thread about this. If not, I'm surprised no one has mentioned the upcoming Bryan Blues Fest which the CoB is contributing $30,000 to.
It is easy to see why the city is contributing money to this. After all, they have excess taxpayer money to spend and apparently didn't clear it out by spending enough of it on Texas Reds.
Not to worry though -- they're going to get it back through tax revenue from all the people attending it according to the above article. They only have to spend a bit over $300,000 to generate enough tax to cover it. No wait, my math is wrong. Of the 8.25% sales tax, the state gets 6.25%. The county and city split the remaining 2%. Bryan's take is 1.5%. I'm sure the attendees will definitely spend over $2,000,000 in this community, more than making up for the $30,000 the city is giving the organizers.
[This message has been edited by nought (edited 4/11/2012 5:23p).]
It is easy to see why the city is contributing money to this. After all, they have excess taxpayer money to spend and apparently didn't clear it out by spending enough of it on Texas Reds.
Not to worry though -- they're going to get it back through tax revenue from all the people attending it according to the above article. They only have to spend a bit over $300,000 to generate enough tax to cover it. No wait, my math is wrong. Of the 8.25% sales tax, the state gets 6.25%. The county and city split the remaining 2%. Bryan's take is 1.5%. I'm sure the attendees will definitely spend over $2,000,000 in this community, more than making up for the $30,000 the city is giving the organizers.
[This message has been edited by nought (edited 4/11/2012 5:23p).]
