Comment 27089

By WRCU2 (registered) - website | Posted October 29, 2008 at 22:52:01

amalgamation wrote: "I wish I was optimistic enough to believe that a rail line down the middle of King St. was the magic bullet that would turn Hamilton into a shining beacon of light..."

jason wrote: "...please keep in mind, many LRT systems have been built in US cities which are FAR worse than downtown Hamilton ever was at it's lowest point."

Jason is absolutely correct and could be referring to Buffalo's pitiful stagnation, which is our closest living relative of a once jubilant industrial region. The weakest limb of the old T H & B, which ran out of steam along with the once majestic beast known as the NY Central Hudson, a 4-6-4 steam driven loco-motive which even appeared royal at times. Back in the days of iron men and women that ironed, a half a century ago at least I imagine. Then about a quarter century back or so, Buffalo set out to grow with the LRT flow but lo and behold the glow did not show. Oh no, here we go...

Again and again suffragists for LRT are saying the new transit is gonna be all that and then some. Maybe it will. But amalgamation has brought up a very valid point, that the residents on the outskirts of town aren't going to reap the benefits of LRT right away, but instead will be helping to pay for it anyway. Amalgamation is worried that the city is going to have to tax us all harder and faster to compliment financing of the planned operation and to finally deploy it. But jason failed to mention that this particular project is funded almost entirely by Metrolinx and any relief of slack will be fueled by City Residents Underwritten Municipal Bonds or CRUMBS for short.

It's almost like in Saskatchewan, what might well be done here in Hamilton. Instead of raising our taxes, the leviers are gonna lower them hard and fast. At the same time we'll have an opportunity to esquire some of this flood of CRUMBS down at city hall, sort of as a way to put that money right back into the civilian circulatory system. The good thing about the arrangement is that a CRUMB may be purchased for whatever amount one wishes to spend, let's say 50 bucks. Now the best part of it is this, that CRUMB will be worth $100, DOUBLE in just seven years. That's right folks, you'll be tooting your horns in only 7 years time with twice as much money to spend than you have today! Ah, sweet Jubilee, no more Oy Oy Oy is me.

It's like when you mortgage a house. Is it half paid for after seven years of a 25 year loan? Not a chance in hell but you've damn near remitted in full to the lender by then with nearly 75% of the term remaining. It's the same principle applied with a CRUMB only WE become the bank and WE benefit by eliminating the meddle men.

Here's what ya gotta do. Pull your clean pressed slacks down to the convention center for the Metrolinx Open House and show your support by jeering, "CRUMBS For The LRT, We Want A Jubilee"

Just kidding of Bourse, and best wishes to our LRT crew, I gotta work late so I won't get to see you.

PS - It's not a "silver bullet" it's more of a mechanical Joan D'Arc, we're still ironing out the D'Tails

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