Quote:
Originally Posted by Roughneck
Which is why they included The Bow, and weren't sneaky about it, and consistently mention it whenever somebody (i.e Ken King) use a CRL as a funding model.
It delayed the Bow's tax dollars from reaching the city's general revenue (and the province) as a bet that the capital projects funded with it will return a greater amount in the future than if the money hadn't been diverted, without taking away from the city's existing operating budget. They're on track to achieve that, making it a net benefit to the city in the long run from a pure financial perspective without taking into account the benefits of turning a blighted, undeveloped area and turning it into a good one.
None of this has been hidden away or avoided, it constantly gets brought up. So what are you continuously going on about? CMLC still has a budget to work with to facilitate development, and they're doing great with it.
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The Bow wasn't included in the original application. It was added, or zoned, after the fact because the original CRL for the EV would not be feasible, or approved by the government, without the billion dollar buildings taxes included.
As to whether CSEC has the ability to develop the area, I think I would put my trust in a group of men who have developed billions of dollars of projects with all levels of government over a group of people who can't even deal with secondary suites in the city (city council has been dealing with this for years and can not even solve this simple item).