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Since 2007, CMLC has committed approximately $396 million to East Village infrastructure and development programs. This, in turn, has attracted nearly $3 billion of planned development (so far). In turn, residential property assessments in the Rivers District have increased from $328 million to approximately $1.2 billion, while non-residential assessments have gone from $647 million and $1.8 billion.
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This too is really just moving money around, so I don't know if whatever tax subsidy the city put in was worth it, but the numbers at least sound better than what we get out of the arena deal.
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