Quote:
Originally Posted by Regorium
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.
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If the condos (or any other business) is on the City owned land they will pay rent, not taxes. Like the Burns building downtown.