I watched the City Council Meeting tonight only for a couple minutes. There was one section of the meeting that talked about the valuation formula for ORH that are being tossed back and forth between the House and Senate. Tomorrow I will review exactly what was posted in the City Council agenda.
Bottom line was that the valuation referred to various deductions from the price; for example, grants that have been received from the Federal Gov't, grants that have been received from the State Gov't and then monies that have been paid by MassPort during the various operating agreements. Versus debating these deductions, the one thing that nobody can tell anyone is what is the value of ORH before all of these deductions?
How are we doing to come up with that number? THAT IS THE MOST IMPORTANT NUMBER!!!!! In the end although getting out of the airport business was the best course of action, we are going to regret not talking to any other potential buyers and just MassPort.
Let me also give a kudos to Councilor Eddy, who started askiing some very good questions.
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