There has been a lot of activity talking about the water park the last few days.
Part of the package involves the city trading property with a local land owner.
The city then plans to lease their newly acquired land to the resort company.
The rest of the story is that the city does not own the land it plans to trade. Our water utility does. The city is planning to buy the land from the water utility and pay for it over a 30 year period.
We deserve better
Brutus
elpasospeak 
’cause the PSB ain’t what it used to be, either. And, doesn’t it occur to them that we will pay much, much more for that land than we will ever get back? And, if we pay for it over 30 years, the interest alone will exceed whatever we get out of that business! How the hell can this be considered a good thing?
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Do you not get it? “We” the taxpayers aren’t supposed to get anything out of this.
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shell game
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It just amazes me how often the name Foster or Hunt gets associated with these screw the taxpayer deals.
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If the city pays the water district what both the city and Foster claim is market value, the city will buy it for $18,000,000. The city has given Wolf an option to purchase the land for $10,0000. So taxpayers will be paying for an $18,000,000 gift to Wolf for 30 years. Meanwhile, we can’t get our streets repaired. Think about how many new police officers could be hired with the money being given to Wolf.
Svarzbein declared that he was voting for this wonderful deal before he took the time to hear the first word of input from any of his constituents. Think about that if you haven’t yet voted.
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That’s the exact same thing that they are trying to do to Institute TIRZ 12. When is the voter base of this city going to wake the hell up?
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