commented on Hedge Fund Manager Hansen Hedges His Bets, Cuts Backup Deal to Move NBA Kings to Seattle
Well, to start, because we're really paying out $400+ million in public funds for the project after debt costs are factored in.
We don't "need" to do this project, so we don't "need" to take out the debt (reducing our capacity to do other projects, by the way).
PS - the so-called "gift" of handing over a fully depreciated arena that Hansen and/or his successors will be demanding public funding to replace 20-some years from doesn't cut it, either.
Debt costs are public costs. I-91 fail. Big time.
commented on Saturday Morning News
@21 and Chris Hansen's flack,
Correct me if I'm wrong, but I'm pretty sure that the "new" revenue that stadium supporters like to cite only covers the face value of $200 million in bonds (assuming, generously, that returns are as anticipated and that Hansen et al don't come back asking for additional publicly-funded infrastructure and/or to "restructure" their agreement - both of which are VERY likely prospects), and not the interest on that debt. We get to pay that - and that WILL come from other local funding sources that could go to real public needs.
It's not what Hansen is doing with his money (and don't kid yourself that this is just some altruistic charity deal - he's looking to make a lot of money by rezoning industrial property to build his new "entertainment zone" and whatnot) - it's what he's doing with the public's money.
commented on Yes, Liberals, We Should Sue That Anti-Gay Florist
What the poster @ 86 said.
I too support the enforcement action, but I have no illusions about the fact that that it will also make for one hell of an effective 30-second TV ad in some swing state where LGBTQ rights are on the ballot.
commented on Council Looks to Kill Some Tall Towers in SLU Proposal
Great comment. Too bad the City wrote the proposal to sell the former Bay Freeway properties so that only Vulcan would be considered - you can bet your bippy LIHI would have done a better job creating housing that is actually affordable had the bid criteria not been rigged to rule them out as a buyer.