Sunday, February 7, 2016

Jeb Doesn't Mention When Attacking Trump on Eminent Domain that Brother George Used Eminent Domain to Build Ball Stadium in Arlington Texas

Eminent Domain OKAY for Bush family

Governor Candidate Bush got the taxpayers of Arlington to spend $135 million toward building his team's stadium, yet the Republican party espouses keeping government out of the way of private enterprise. The Ballpark stands as a monument to what critics call corporate welfare, yet his party advocates reducing welfare rolls. The entire complex stands on land that includes 13 acres taken by eminent domain, yet when campaigning in rural Texas Bush told voters he would keep the government from seizing their private land for public use.
Ann Richards was nationally famous and locally popular. The Democratic incumbent was a formidable opponent for the Republican aspirant. She had a track record. He had a ballpark.
January: Bush is first mentioned in news reports as a potential candidate to run for governor of Texas in 1990.
April: Bush helps arrange a syndicate to purchase controlling interest in the Texas Rangers for $89 million. He receives a reported salary of $200,000 and begins lobbying for a new stadium for the club, which plays in a renovated minor-league facility, Arlington Stadium.
April: Bush buys an additional $100,000 ownership stake in the Rangers.
October: Arlington Mayor Richard Greene crafts a deal that will go before voters and devote $135 million toward a new stadium for the Rangers by raising the sales tax by a half-cent. At the time, Greene is among a group of former executives being sued by federal regulators for his role in the widespread savings-and-loan scandal.
January: Arlington citizens, by a 2-to-1 margin, approve public funds for the new $191 million ballpark.
April: The Rangers shepherd through the Texas legislature a bill that creates the Arlington Sports Facilities Development Authority (ASFDA), a quasi-governmental entity that is given the power of eminent domain. Shortly after the bill is signed by new governor Ann Richards, 13 acres of private property are seized for the Rangers' new ballpark, later prompting two lawsuits.
July: Bush buys another $6,302 ownership interest in the Rangers, increasing his financial investment to $606,302.
September: George W. Bush announces his intention to run for governor of Texas in 1994, making the decision after expressing some interest in the baseball commissioner's job that has been vacated by Fay Vincent.
Bush is elected governor with 53.8 percent of the vote, defeating popular incumbent Ann Richards despite her attacks on the stadium deal and Bush's grasp of issues. (She had declared that it was "difficult to run a race against someone who doesn't have a clue.")
December: Before taking office, Bush resigns as managing general partner of the Rangers but keeps his ownership stake in the team. At the time, his share is 1.8 percent equity interest, plus another 10 percent bonus if the team is later sold and the investors get back their original investment plus interest (Rose, the other general partner, gets a 5 percent bonus for his role).
July: Baseball holds its All-Star Game at The Ballpark in Arlington. But the Rangers, like other major-league teams, continue to suffer from the fans' adverse reaction to the labor stoppage. The team averages only 27,582 fans. That, in turn, reduces the value of the franchise to $138 million, from $157 million the year before, according to the annual Financial World magazine evaluation.
June: Tom Hicks purchases the Rangers for $250 million, the second-most ever paid for a Major League Baseball team. With his 10 percent escalator bonus, Bush receives $14.9 million for investment.
January: The Rangers agree to future payments, including interest, to the ASFDA that will total $22.2 million to cover costs that the sports-development authority incurred related to litigation over the seizure of private property for the ballpark. The agreement brings closure to a dispute that goes back to the Bush era, when the club refused to reimburse the authority after a court judgment.

March: As expected, Bush forms an official committee to explore interest in his running for president of the United States, the first step toward securing the Republican nomination in 2000. Contributor to Article ESPN and Center for Public Integrity
Related: Was there Crimnal Behavior