Quote:
Originally Posted by Winnipegger
And how would we pay for this $500 million luxury? That area generates $10 million/year in property tax. Even if this massively increased the vibrancy and beauty of the area, doubling the assessment base over night, it would take a minimum of 50 years for that project to pay for itself.
This is why we can't have nice things. Infrastructure costs are too high and taxes are too low relatively speaking.
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This criteria isn't ever deemed necessary for other infrastructure projects. Is the Waverly underpass going to generate $100 million in new tax revenue at the corner of Taylor & Waverly? Because from what I can see it's the exact same strip mall and Shindico office that were there before. Everyone likes to call for overpasses and interchanges on the perimeter or to create an inner ring road - I've never seen anyone bother to demonstrate how those things would generate enough tax revenue to pay for themselves. The CPT extension is also a money pit if you look at it that way but we will probably forge ahead with those while the inner city continues to crumble.
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