Is This What A Partnership Looks Like?
I encourage everybody to download the supporting material for the special meeting of the Carson City board of supervisors on December 10, 2009 (http://www.carson-city.nv.us/Modules/ShowDocument.aspx?documentid=21915). A copy of the Nugget proposal is contained in there. Of particular interest is the list of who gets to build - and pay for - what.
The public spending plan lists the library, the incubator, the media lab, the plaza, the parking and the transit hub. That's what we have to pay for. $40,900,000.
The private spending plan lists an office building, retail space, entertainment venue and residential units. That's what the Nugget will pay for. $46,400,000.
We see, the Nugget gets all the revenue generators while the city is left with the parts that generate only operating expenses. The Nugget can attractively advertise its office, retail and residential units as being close to parking, the library, the plaza and a transit hub, while the city is stuck with the maintenance of those. In short, we get to buy the bait and tackle, the Nugget gets to keep the fish. A relationship like that is not a partnership but parasitic.
Some may argue that the city will benefit through taxes generated by the Nugget's part of the deal. If we let that argument fly, we will encourage any tax generating business in town to demand 46% of it's investment to be covered by the city.
Ask not what Carson City can do for your business, ask what your business can do for Carson City!
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