And the deception you espouse also speaks for itself. Taxpayers WILL pay back the bond, in full which will be in excess of $75M. This is what it will cost US.
"Cost to taxpayers" is not the same as $37M, far from it, and the fact that you want to use the smaller number exposes your fraudulent argument because that is what yo want it to be, an argument about numbers.
If the stadium tax were for only the stadium the tax rate could have been lowered to 2 cents - yet no one on the "pro" side picked up on this and railed against city hall for "killing" the bond through greed. I guess since the bond (If passed) gives you what you want - makes this money grab OK. Correct?
OK try this
$54M JUST for the stadium. If RE doubles in the 20 year length of the bond and the city revaluates every 5 years as has been their history (more or less), how much will that $54M bond cost in total? Get the picture?
The problems associated with this bond are two fold
First the bond over reaches on revenues. This is not PCB's fault but your continued silence on this is a tacit approval of this money grab.
Second - the bond payback is tied to RE valuations. In the last 50 years how many times has real estate fallen in value in this area? You could say 2008, 2009, 2010, and possibly 2011. But other than that you would be hard pressed to come up with another annual drop in valuation.
That being said I would hope that don't mistake my saying the stadium cost is $37M is somehow making you think I support your post - far from it. Construction costs and selling price are always different. Purchase price and payment price are also different.
The COST to taxpayers, which is the thrust of the ad, is $75M at a minimum. To cast this as anything different is in fact, a lie. Just like your website saying we'd get "X" amount of economic benefit without using the terms "estimated" is implying some sort of guaranteed return. You cannot in good conscience make that claim.
But considering your past posts and your silence on the excess revenues, I would gather you have no conscience.
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