It really concern me that the price is determined after the sale is agreed upon? Shouldn't we get the offer up front and maybe there are better offers? Is there not a fiduciary responsibility to the citizens of Worcester to get the best price for this city owned asset?
Also what about the line "compensation price, meanwhile, would be reduced by the actual amount of any past state expenditures, subsidies and payments for operating costs". I read this to mean that any monies MassPort has paid the past ten years towards the operating deficit will be deducted from the purchase price.
In other words if it is determined that MassPort has contributed 15 million dollars the past ten years. This comes right off the purchase price. Now add "other past federal and state grant assistance for airfield improvements." What the hell is that number? It has to be large. Lets says that is another 15 million. We could theoretically agree on a sale price of 40 million, but in this example only get 10 million spread out annual installments.
Still not too late to invite AvPorts, National Express to ORH. If we sold the airport to one of these companies none of the monies being deducted from the purchase price above would be taken off the sale price.
I am all for the selling of ORH and I would be happy to have MassPort be the next owner, but lets make sure we get a fair price? Lastly there will be a local advisory committee. I truly would like to be on that.
Tax Classification Hearing Continued to Dec. 1st -
1 day ago