Comment 42126

By Michael Desnoyers (anonymous) | Posted June 17, 2010 at 18:20:07


Unfortunately, there is very little about your comment that is accurate except in regards to the maximum that a municipality can charge in DC's which is 90%. That fact in itself says taxpayers must pick up 10% which based on estimated development costs for the aerotropolis still puts the "contribution" north of $30 Million. Again, unfortunately, Hamilton does not now, has not in the recent past and is unlikely in the future to recover anywhere near 90% of development costs from developers. As we become more and more desperate the city will discount increasingly the DC's (as they do now) to attract any kind of business opportunity. In regards to the AEGD costs as I point out above at the January CLC meeting the consultant hired by the city, Dillon, displayed a finacial estimates chart which clearly showed the estimated "contribution" for the first phase of the AEGD at approximately $100 Million. This is for the EASY part. This is not an HPD fact this was from the city hired consultant! I do believe there is a huge majority of people who have been inadequately informed about the AEGD despite the wealth of information available on the city web site. We should all try to make an educated and informed decision about this subject because it will impact the entire city for decades. A report from 2003 commissioned by I believe Hemson clearly indicated in the summary that the AEGD would only be successfull with municipal contribution to the tune of nearly $150K/ acre. Read the report and do the math!

M. Desnoyers

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