Why not waive permitting fees and lock in the current assessed value for City Square the next 7-10 years like they have done in Philadelphia or like we did around the corner at the Hanover Theatre. Someone give me one reason why this makes no sense?
In essence is that what we have given them the last 4 years since they have paid no permitting fees and the assessed value has remained the same or even dropped? At least if we did this we would have a corresponding increase in the tax base 7 to 10 years later.
If it is good not for the Hanover why not expand it?
Same Time Next Year
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It’s been nearly a year since I wrote about the problems that come from
having 11 bosses who are not on the same page about anything, as well as
suggestion...
4 months ago
4 comments:
Not sure what locking in the assessed value for the Hand It Over Theatre will do?? The Hand It Over Theatre "entrepeneurs" placed the real estate into a non profit holding company, so they pay no real estate taxes.
I figure we're losing about $750,000 in real esatte taxes per year that are not paid by the Hand It Over...................yet we bagder the holy ++++ out of the college non profits in an attempt to get a paltry few thousand of dollars in PILOT paymnets....................city dropped the ball when they gave the Hand It Over millions in constr subsidies..........someone should have made the Hand It Over sign a contract that they would not take the entire project non profit upon completion.....insanity.......
Then last month we give these 2 "entrepeneurs" the annual Worc. Cultural award after they pillage the city treasury. If we're going to give a cultural awrd to those who pillage my tax dollars........give it to Paulie's Pajama People neighbors over at #224
BTW......how is the city doing re that old historic church over on Summer St.........another dropped ball and another reason the city shouldnt dapple in real estate.......
The Wyman Gordon property is one that seems like it could use this type of incentive.
That property, specifically the property behind Table Talk has so so so much potential. Townhouses, with yards, affordable to a household income of $80-100 grand.
Young couples.
Only problem I can come up with is the noise from the train tracks. Maybe do a stretch of commercial along the train track side?
Just thinking out loud here folks, don't mind me.
Jahn, the city owns that building (church on Summer St)?
That building is gorgeous. City Sq in it's entirety becomes a reality that building won't lay dormant long.
Bill - The expected increase in real estate tax income due to City Square is being used to finance the demo and reconstruction of the new streets around it (DIF) - if you freeze the assessment you have no $ for demo/new streets. As I see it they are doing what you suggest just in a differnt way
Jahn - The theatre is a for-profit entity that pays the city real estate taxes. $15k in FY '09 - sounds low to me so they must have gotten an abatement as Bill says
Gabe - Townhouse idea for WG parking lots is a great idea, one that I have been promoting lately. Agree with train issue - a nice linear park running along the length and some big trees ought to provide the necessary screening and provide a nice walk from the canal district over to Madison & Southbridge Sts area
GUPU (Gabe's Urban Planning Understudy - keep it up Gabe!)
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