Quote:
Originally Posted by MalcolmTucker
The city could choose to build the parking garage.
Someone else building it on a city asset is not a neutral proposition.
I doubt the lease revenue to the city will be anywhere near what it would be if the same project without a stadium was built.
That doesn't mean the project is bad. Just that it needs to be compared to something other than 'do nothing'.
|
This is well understood as the concept of opportunity cost, but an analysis would rely on details that are not public.
As somebody who follows this saga and municipality closely, I don't agree that we can know ahead of time that the private Wanderers proposal must require some kind of net municipal subsidy to be viable. Actually it is very likely the municipality can get more utility and revenue out of this land parcel with this private partner. I think it's premature to frame this as municipal largesse or a generational publicly-led project.
One factor is that it is a public common with specific zoning requirements. It has to have a public use, for example, and it cannot be sold. Most of the common land around there has been underused for decades.