Thursday, September 4, 2008

annexation issues

Why would ANYBODY in their right mind give away 6 lucrative parcels of land to VG, and receive NOTHING in return? The properties lie on the North side of 36 st, the natural boundary between the parcels WE want to annex and those they want. The stockade also lies on the North side of 36 st and we will receive NO taxable income from that property at all. We have agreed to take the good with the bad. While the overall taxable numbers are very important, other considerations should come into consideration. For instance, if both VG and MS annex land worth a billion dollars each, and the expenses of one are 20-30% more than the other, for whatever reason, that should be part of the consideration. Examples of such possible situations might be a pollution or construction debris cleanup, or additional necessary policing like we have at the Embassy Suites. It is the net benefit that matters at the end of the day. Another concern would include the development potential of each area under consideration, as none of them are equal. It is a difficult and elusive concept to quantify but surely there are honest and independent people who have expertise doing exactly that. Hire them.

No comments: