Comment 39010

By canbyte (registered) | Posted March 23, 2010 at 01:37:22

Interesting points all. Firstly though, i doubt that Siemens developed their plan in hopes of getting a tax break, and i'm sure the property will be on the market ere long. Getting a tax break might motivate some but most developers want to make money and are willing to wait for the right CONDITIONS. I believe that rather than pursuing a punitive strategy, we should all spend more time on figuring out why conditions are not right enough to entice owners to develop.

Imposing a tax penalty is interesting but seems draconian. By the time you get this through, it will be just in time for the made in America Depression 2 (2012?). Owners, unless extremely well funded will likely go bust anyway and who will want to buy at such a time, especially when faced with your penalty? That means more properties not paying any tax at all so the City becomes the repossessor of the last resort. Not very appetizing.

I also noticed (in Business Link) that Siemens is OPENING a new facility in ...... wait for it...... Burlington! What does that tell you about business conditions in the two communities!!! Vote me down if you wish but their actions speak louder than my pipsqueak words. Hamilton (& writers here) seem determined to learn the hard way.

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