Hartford Expected to Lose Big on Dunkin’ Donuts ParkMarch 28, 2017
Dunkin' Donuts Park, to many, seems to be another example of the city's inability to responsibly manage its finances.
According to a recent Hartford Courant article, Hartford is expected to lose money on Dunkin’ Donuts Park – for at least the first two years:
Projections show the city is expected to operate at a net loss on the downtown north development during the first and second year the stadium is open. Hartford will lose about $2 million this year and $3.5 million next year.
Its no secret that the capital city is in dire financial straits. Mayor Luke Bronin (D-Hartford) has expressed interested in borrowing money to cover some of the city’s estimated $65 million budget deficit:
With a deficit of about $65 million estimated for next year, the mayor said he’ll probably have to factor a significant amount of state aid into his spending plan, even though Hartford won’t know how much funding it will get until after that plan is adopted. Hartford’s deadline to adopt a budget is May 31; the legislative session ends June 7 and there are no guarantees a state budget will approved by then.
Bronin has strongly advocated “regionalism,” looking to small towns and suburban communities to “step up” and bail the city out of its financial nightmare:
As city leaders scramble for solutions, Bronin is seeking relief from neighboring towns and the state. At public meetings and in private conversations, talk has turned to regionalism.
While Bronin has been unable to get meaningful union concessions, the city has looked to cutting education funding, canceling cultural events, and cutting city services. Dunkin’ Donuts Park, to many, seems to be another example of the city’s inability to responsibly manage its finances.
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