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100 _aSroka, Robert
_955992
245 _aGetting STIF[ed]:
_bLouisvilleā€™s Yum! Center, Sales-Tax Increment Financing, and Megaproject Underperformance/
260 _bSage,
_c2020.
300 _aVol 56, Issue 5, 2020:( 1553-1580 p.).
520 _aThis article evaluates the revenue performance failings of the Yum! Center, a sports arena in Louisville, with the primary objective of explaining how a flawed deal arose in the first place. While the literature addressing public subsidization of sports facilities primarily contemplates economic impact underperformance, Louisville provides an extreme instance of failed financial performance leading to a bailout. The revenue challenges, arising from sales-tax increment financing and the lease agreement, link the arena to a wider literature on megaproject underperformance, characterized by three primary threads: rent-seeking, governance structures, and project cultures. This article evaluates the Yum! Center through representative lenses from each of these threads before offering key lessons for future projects.
773 0 _09296
_916911
_dSage Publications
_tUrban Affairs Review
856 _uhttps://doi.org/10.1177/1078087419830527
942 _2ddc
_cEJR
999 _c13860
_d13860