Comment 32188

By M. Desnoyers (anonymous) | Posted June 29, 2009 at 13:22:16

-In response to BALANCE

The true economic benefit of HIA is not an easy thing to ascertain. Without question there are other finacial spin offs but how many of these can you DIRECTLY point to and determine what they are. This is why in my original message I clearly stated that the city has DIRECTLY netted $600K in rental based upon a complicated Revenue formula. As an aside, the lease agreement requires that we give half that back. Anouther example is property taxes which is running around $1 Million per year. At the current rate we are investing 3 to get 1 and are on a slippery slope. At the end of the lease term (2036)there is an automatic renewal but if Tradeport decides to walk then you are absolutely correct, the City gets all the assets back. If the experts are correct and expensive and scarce fossil fuels continue to decimate this industry then it is quite possible we will be left with a totally worthless asset.

Your point about moving my business has no merit and would only be valid if I was actually looking and didn't consider the alternatives. In regards to running for Mayor, I thought in a democratic society it was possible to institute change without being an elected official.

If you look at it from a different perspective I have put much more than money where my mouth is, I sign my messages with my real name!

Michael Desnoyers
Co-Chair
HPD

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