Quote:
Originally Posted by Table 5
Keep in mind that the City not only offered a "favourable mortgage" to build the arena, they offered to have their property taxes go only towards paying off that mortgage. A lot of people seem to forget that with every property there is the cost to build it, and the cost to own it. If my property taxes were 100% going towards paying off my mortgage, I'd be pretty elated.
But apparently that's disrespectful!
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Exactly. With the city's offer, they're either getting 1/3 of the building paid for by the city and paying regular property taxes, or they're paying back the city for 1/3 of the building's cost and paying nothing for property taxes.
Either way, it's a hell of a deal.