All across the country, cities and towns have been stuggling to function on reduced revenue due to the economic hard times caused by the dot.com crash post 9/11. Many cities, such as San Jose, have built expensive convention and conference centers to try to bring in more revenue.
Most have had disappointing returns, most notably San Jose which has only a third the revenue their Redevelopement Agency hacks predicted they would net.
Our city cannot afford to take on $30 million in debt to fund a for-profit hotel offering rooms for as high as $350 a night.
We have no business putting the city at that kind of risk. RDA funds by law must address blight (the West Coast hotel may be ugly, but its not blighted) and to build the affordable housing our community so desparately needs.
Stop corporate Welfare!
Date Edited: 13 Feb 2005 05:34:49 AM
Most have had disappointing returns, most notably San Jose which has only a third the revenue their Redevelopement Agency hacks predicted they would net.
Our city cannot afford to take on $30 million in debt to fund a for-profit hotel offering rooms for as high as $350 a night.
We have no business putting the city at that kind of risk. RDA funds by law must address blight (the West Coast hotel may be ugly, but its not blighted) and to build the affordable housing our community so desparately needs.
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