The complex deal to use casino-tax money to buy Nationwide Arena has hit a snag: there’s not enough money to make loan payments. Officials expected to pay off the loans with taxes from the new Columbus casino. But casino tax revenues are below projections. The city and county have not made a single loan payment for the arena.
A little history
To keep the Blue Jackets from leaving town, the Franklin County Convention Facilities Authority bought Nationwide Arena and gave the team free rent.
President Obama touted his plan to raise taxes on wealthier Americans and shift defense spending to help pay down the deficit. The president made his comments yesterday in one of two stops he made in the buckeye state.
President Obama says Republican Mitt Romney is promising to cut income taxes and spend trillions more on defense while, at the same time, reducing the deficit. Mr. Obama says it’s important to note that Romney isn’t saying what he’ll cut from the federal budget in order to be able to do that.
The National Transportation Safety Board continues to investigate the train derailment in Columbus yesterday. Most of the people who were evacuated yesterday have returned to their homes.
National Transportation Safety Board Member Earl Waynur says the train appeared to have a clear signal when it went into the area where cars derailed. And Waynur says preliminary reports show speed was not a factor.