[ScreamingViking]

Isn't that part of the issue here though? Mac doesn't pay property taxes.

So for these two sites (which will be institutional buildings, I believe) the city will get nothing, at least not directly.

The indirect economic benefit of the additional students living at King/Bay and Main W. and spending money at local businesses will be important of course (presuming there are new spenders; if it's mostly housing students who would otherwise have lived elsewhere in the area, the net gain will be limited). The city's commercial property tax revenue will grow if that demand generates new business, but the two developments themselves will not bring tax revenue.