Quote:
Originally Posted by CliffFletcher
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.
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I understand that completely...my point is that conceptionally, this is still the city "subsidizing development". They are taking the upfront development risk away from the private sector, in the hope that the investment will increase the tax base. I was just using the west location as an example....it is up to the city and the flames to define where the partnership works best. The point is that it can conceptionally be a "net benefit".