Quote:
Originally Posted by Buster
Dont be fooled. A CRL is just a tax on general revenue with an extra step added in to assuage the masses who don't think too deeply on the economics of it.
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Spot on. The city's revenue pot is it's revenue pot. Whether you redirect $240M from "just" the taxpayers in the CRL zone or $240M from the entire tax base, you're redirecting $240M of revenue out of the city's revenue pot.
Now, if the present value of advancing a higher West Village tax base up in time minus the present value of any lost potential tax base from development that gets shifted from elsewhere to the new west village exceeds $240M, then it's worth it. If it doesn't then it's not.
I'm not sure if it is but my gut tells me that it's not and that the CRL will end up being negative value for the city's revenue pot and therefore would be considered a handout of public funds.