I could not have said it better

Keep Super Bowl Bid Win In Perspective
http://advanceindiana.blogspot.com/2008/05/keep-super-bowl-bid-win-in-perspective.html
You will be hearing from plenty of people in the coming days who will be touting the huge benefits Indianapolis will reap from winning the opportunity to host the 2012 Super Bowl. You will hear economic benefit numbers being tossed around in the range of $250 million. And you will be hearing various politicians and elitist insiders standing in line to take credit for today's announcement. The local news media will be gushing more than anyone because they stand to benefit economically more than most from the event. Here's some thoughts to keep in mind as people celebrate today's win:

In order to land this event, Marion County and neighboring counties had to raise taxes and borrow money to build Lucas Oil Stadium at a cost of $750 million. Without the new stadium, Indianapolis stood no chance of hosting a Super Bowl.

Private sources will have to contribute at least $25 million to front costs for the NFL to put on the event.

The NFL and its affiliates will receive special tax benefits at your expense for the privilege of allowing us to host this event.

Both the State of Indiana and the City of Indianapolis have essentially written blank checks to the NFL "to provide all governmental services and support reasonably necessary to the success of Super Bowl XLVI and related Official Events within its jurisdiction". The City alone will shell out at least $1.5 million in over-time pay for police officers to support the event.

Very few Indianapolis residents will have an opportunity to attend the event. Even special events for the Super Bowl are "by invitation only" and a large section of downtown will be cordoned off to keep the "uninvited" out and limit access to "invited guests only."

The revenue benefit from hosting the Super Bowl will be less than the economic benefit the City enjoys annually from hosting the Indianapolis 500 and the Brickyard 400. Only a relatively small number of businesses and employees associated with the service industry will directly benefit from the Super Bowl.

Hosting the Super Bowl will not improve Indianapolis schools. (See Detroit)
Hosting the Super Bowl will not reduce crime in the City. (See Detroit)
Hosting the Super Bowl will not reduce the growing number of abandoned homes in declining neighborhoods outside the mile square. (See Detroit)
Hosting the Super Bowl will not fix the City's crumbling infrastructure. (See Detroit)
Hosting the Super Bowl will not clean up the corruption in city government. (See Detroit)
Hosting the Super Bowl will not make up for 2,000 lost jobs at Eli Lilly and thousands of other high-paying manufacturing jobs which have been leaving the City in recent years and will probably continue to do so.
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For those who does not know what tax breaks are given, here it is:

Tax exemption Sec. 3. All property owned by an eligible entity, revenues of an eligible entity, and expenditures and transactions of an eligible entity: (1) in connection with an eligible event; and (2) resulting from holding an eligible event in Indiana or making preparatory advance visits to Indiana in connection with an eligible event;are exempt from taxation in Indiana for all purposes.

Marion County admissions tax not applicable Sec. 4. The excise tax under IC 6-9-13 does not apply to an eligible event.

This is all while we have to dig down deep to keep up with property taxes. Great Job!!