Better give them some ca$h quick, taxpayers!
"Bigger meeting center favored; Panel members say room needed for conventions" by Casey Ross, Globe Staff / June 1, 2011
Many members of a state panel reviewing a proposed expansion of the Boston Convention & Exhibition Center said they are leaning in favor of the $2 billion project, even as some panelists question whether it would generate enough economic benefits to make it worth taxpayers’ investment.
Haven't taxpayers been looted enough by well-connected corporations and land developers?
The expansion, which would nearly double the size of the South Boston complex, would probably require increases in tourist-targeted taxes and fees, and up to $200 million in public subsidies to finance a 1,000- to 1,200-room hotel on adjacent property....
Why would anyone want to vi$it Bo$ton?
Officials have said tax and fee increases will likely be needed to cover debt payments on the expansion.
Related: Massachusetts Sales Tax Swindle
See who is FIR$T IN LINE for the TAX LOOT?
Those payments are expected to be between $78 million and $117 million for 30 years, depending on the project’s size, interest rates, and other factors.
The panel has explored a number of possibilities for financing the expansion, including a 1 percent increase in the statewide hotel tax; raising tourist-targeted taxes and fees in the Boston area; and tapping an estimated $31.8 million in future city and state taxes expected to be generated by the project.....
Why should SOMEONE STAYING in a HOTEL WAY OUT HERE have to pay for BOSTON'S PARTY PLACE?
Why would anyone want to come with the TOURIST GOUGING?
And WHY in the WORLD would you want your government to BORROW MONEY from BANKS (at INTEREST) while giving the SAME BANKS the RIGHT to the TAX REVENUES of the FUTURE?
What the hell kind of government is that?
See: Massachusetts Democrats Keep Making the Same Mistakes
That's insane.
Some panel members who support expansion say making a strong financial case is crucial to getting funding from state lawmakers who are seen as reluctant to approve such a large project at a time of fiscal distress. Many lawmakers represent communities reeling from broader fiscal pressures forcing them to cut services and lay off employees.
Oh, I think the campaign check$ will get them to come around.
“The bottom line is that on a $1 billion plus expansion and hotel project, you can’t just hand taxpayers the bill,’’ said Patrick Moscaritolo, chief executive of the Greater Boston Convention & Visitors Bureau. “That’s a nonstarter.’’
And yet it is getting started.
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Also see: A Second-Class City
