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Originally Posted by Bend it like Bourgeois
I don't think that's entirely true.
A CRL creates extra taxes and provincial funds, that wouldn't otherwise be available. Its not a net gain in the end because they borrow first, but it tops up what it takes away. In theory at least.
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CRL creates extra taxes because of buildings that wouldn't have been there originally, but the issue is with a 250M CRL, you're looking at a HUGE amount of development to service that loan.
Consider that the Flames suggest that the City owns the entire facility - that's a massive amount of property tax that doesn't get paid. If you look at the map, there's like 10 condo buildings there max. Will that pay enough property tax on top of what is actually needed for basic services? Remember that any shortfalls in funding get taken from general revenue.