The Padres have been spoiled, er, I mean lucky enough to have the the city of San Diego footing the bill for much of the cost of Petco Park. Now San Diego, like every other city, is strapped for cash, and has had to look for help to make the debt payments on the ballpark bonds:
San Diego’s downtown redevelopment agency will shoulder debt payments for Petco Park for the next five years, relieving the city of one financial burden as it struggles with ongoing deficits and budget cuts. Under a deal approved by the City Council yesterday, the Centre City Development Corp. will cover the $11.3 million annual debt payment through 2013 . . .
. . . In the past, San Diego used its general fund – which pays for parks, libraries, fire and police services – to make debt payments . . . Representatives from the Downtown San Diego Partnership and San Diego Downtown Residents Group spoke in favor of having the CCDC pick up the debt payments, but they also cautioned that the city should not continually raid the agency’s funds to balance its own budget.
They fear that the CCDC will not have enough money left to fund fire stations, parks and other amenities for downtown residents. About 30,000 people live downtown, but the population is expected to triple by 2030.