Mariano had a column in the Telegram earlier this month
Projected revenues always paint a rosy picture $7.29 million per year. Based on these revenue projections, guess we have nothing to worry about..
Mariano had a column in the Telegram earlier this month
Projected revenues always paint a rosy picture $7.29 million per year. Based on these revenue projections, guess we have nothing to worry about..
Comments
If you look carefully,most of the original estimates have decreased dramatically, with the exception of parking and advertising.
With regards to the parking estimate, although the City has increase rates I have seen an increase of private lots competing for parkers so the City may not get the revenues they are projecting.
Additionally, the timing and size of the "new" developments need to be carefully reviewed.
The development on the Wyman Gordon site is seriously delayed which means there is no additional revenue coming in to pay for the bonds. The estimates for the "new" development could follow suit.
Construction costs have risen as of late and financing costs are reported to rise as well. This could effect the "new" projects adversely.
The ball park has opened with resounding success and fan fare which everyone expected.
It is now time for the City leaders to get there feet back on the ground and in a transparent fashion review the financial status of their redevelopment plan and adjust accordingly, if possible.
There are taxpayers like myself who believe the City taxes excessively and does not address my needs or concerns, like the condition of the City streets, so when someone says a project like this will not cost me any money, I am apprehensive and plan to continue to watch the project progress and comment accordingly.