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Originally Posted by someone123
Is the office vacancy rate (which has gone up due to construction, not negative absorption) even relevant to this at all? I thought that part of the project was private. Assessments aren't tied to vacancy rates.
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The city administrators seem to think that it's relevant:
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But in general the idea of setting aside property taxes from specific projects to pay for other specific things does seem silly. You don't need to do that for a project to be revenue-neutral. I'm not sure how it changes the overall finances though. HRM collects the revenue it collects.
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All well and good, but isn't the salient point that
for this particular project, Halifax's taxpayers will be paying more than originally anticipated, or at least have less funding available for other projects?
https://www.halifax.ca/sites/default/files/documents/city-hall/regional-council/180410rc1423.pdf
Maybe it's not an issue - as the booked conventions will probably provide spinoff benefits that are not easy to quantify, but surely will be positive.
However, it doesn't seem unreasonable for there to be some media attention when tax money is spent on a project like this - you may perceive it as unnecessary negativity, but the public should still be made aware of the circumstances. They can think for themselves and decide whether it's reasonable or not.
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What is with this trend in Halifax reporting to write articles full of confusing vaguely negative factoids that don't connect together in coherent way and don't provide the full context?
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Is that a Halifax-only thing? Seems to me that the level of media reporting has declined everywhere.