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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Mar 29, 2003
Page
5
Cedar Rapids officials stress no major risk as Kernels commit to a 35 million stadium project funded by bonds. Roeder portrays a confident plan to boost attendance to about 210000, with ad sales up, concession tweaks, and balanced lease payments tied to city debt.
Iowa legislators face a complex push to reform tax and regulatory systems alongside proposals to create an economic growth fund. Leaders warn reforms may be tied to the Iowa Values Fund, with debates over shifting from income tax and property tax changes, bonding options, and gaming revenue to support life science investments. Projections suggest a $250 million Iowa Values Fund could spur 52,500 quality jobs in five years, boosting state revenue though critics seek clearer, bipartisan paths.
The Cedar Rapids city government has reached a settlement over the ice arena opened three years ago after rapid construction and escalating costs. The arena faces 17 years of debt payments totaling 650000 annually, with RoughRiders hockey as principal tenant and Compass Facility Management improving operations. Management projects debt coverage rising from about 135000 this year to 200000 next year, aided by higher use across multiple hockey and skating programs, though RoughRiders attendance has fallen.
Iowa lawmakers debate a multi year program labeled Iowas Values and BIO funds to channel 2 billion into job creation in life sciences, advanced manufacturing, information services, renewable energy, and regional development. Proposals include sunset of property tax, simplified income tax, higher sales taxes, cap TIF growth, and expanded Internet access with bonds and new revenue sources.
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