Quote:
Originally Posted by Jay Random
The theory, of course, is that without the CRL to kickstart development in the area, there would be nobody paying taxes inside the CRL district. This is a dodgy assumption at best, but it does have the effect of reducing the outright subsidy.
The East Village CRL is a big drain on the general revenue, because all the taxes from the Bow project are diverted into the CRL fund – yet the Bow was already approved for construction before the CRL was passed, and the boundaries of the CRL were gerrymandered to include that block. Basically, the East Village project was given a free gift of all the property and business taxes from the Bow building.
If that doesn't raise anybody's hackles, it's not so easy to see why the West Village should.
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The difference being that the CRL in east village went towards infrastructure spending. River walk, streets, st Patrick's island etc. The WV CRL, according to the flames, will be given to the Flames to build the arena. If WV is developed and CRL is used on interchange and street development along with extended river walk, many wouldn't bat an eye.