To the Editor:
I wish to comment on the story about the athletic complex and officials blaming “naysayers” for investors backing out (May 16th issue of The Press Register).
I have not heard people actually oppose the project, but I have heard complaints for unanswered questions.
An example, the paper mentioned that Mr. Brown was readying bonds for the project. People are asking, “Who is going to be responsible for backing the bonds?”
Bonding is another word for "borrowing". If investors, who I assume would make payments on the bonds, defaulted, either the city if it issues the bonds or if the Mississippi Development Authority issues major tourism bonds, one or the other would be responsible for paying back banks which lent the money.
I believe people want to know how much the city or state taxpayers would be liable for should the investors default.
The other question that needs answering is, "What will be the entrance fee for the water park?"
Neither Jackson nor Memphis has a waterpark. I imagine businesses who invest in such things researched and discovered there are just not enough people who can afford to pony up the $10-$20 entrance fee.
The other major one is "Who and how will the complex be managed?"
Southaven has probably the largest athletic complex within 150 miles of Clarksdale. Desoto County attracts tens of thousands of people throughout the spring and summer for softball, baseball and soccer tournaments. All of those tournaments have major sponsors and professional managers operating them.
Where will our complex obtain sponsors and how are we going to attract the teams to come here?
I do not believe the investors who backed out of financing and building the complex did so because of "naysayers", but I suspect they might have because they see the project as a risk they do not wish to take - but, then I also suppose, one excuse is good as another.
Most people probably agree that "something" needs to happen for Clarksdale to survive. But, in order to buy into this project, they also need to be assured the city will be held harmless from the potential tax liability that comes with it.
John Mayo
Clarksdale
