Quote:
Originally Posted by Ice_Weasel
So the city should spend $300-$400 million to develop the area to subsidize condo's for "millionares" and corporations? Sounds ok to me, but a little surprised that this makes sense to you.
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If you want to debate this stuff, you really should take the effort to educate yourself a little more. Read the article. The city will only make the $300-$400 million investment in developing the area if it can eventually make the money back in taxes. The taxes the city would make on 12,000 residential taxpayers and a bunch of office towers is much higher than what they would make on an arena and entertainment district. The low density - and low tax base - of an arena district does not warrant the huge up-front remediation and development expense.