Another "pie in the sky" scam to save downtown or build it and they will park , shop and live there.
Several months ago there was an article in the paper with the suggestion of building a new parking garage with a cost of $12 million.
It seems interesting that the Mayor now has his property up for sale. Could Mayor England be getting a "free" condo out of the deal?
We'd bet money on that one, any takers?
How do you think that we taxpayers can afford another bond payment?
Yes, we read the article and it is extremely important to heed the "Red Flags" that pop up in your mind.
Red flag No. 1: "The city putting up $12 million in tax-increment financing bonds to pay for the bulk of a multi-tiered parking garage."
Key word in this sentence is bulk!
Red flag No. 2: "Based on a 20-year bond issue, Bobo projected the city would leverage its investment into about $20 million in tax revenue."
Key words in that statement is 20-year "bond issue" and the word "about."
We smell a big tax abatement coming along with this project, what do you think?
When ever anyone uses the word "about" that means they don't know.
Red flag No. 3: "The developers are not proposing to pay any of the cost of cutting the levy."
We all know how Carl Malysz plays these "Oh, it's not going to cost taxpayers nothing" games with us.
Been there, done that!
Red flag No. 4: "The parking structure would be under control of Mainland Properties."
So, what Mainland Properties is really saying : they want "us taxpayers to pay for it" and they get all the profits...
Freedom Of Speech would like to say:
Taxpayers, we got screwed on the last "parking garage project" do we really want to get screwed on this one too?
Mr. Bobo, if you want a new parking garage: borrow and pay for it yourself!
Mayor England, we hope this is not another one of your "quality of life" projects, cause we got more important projects we need before you waste the money on a new $12 million parking garage!
