Monday, October 19, 2009
A Columbia Association Bonanza
We spent part of our rainy weekend going over the recent downtown Columbia presentations before the County Council and learned a couple things.
One is that more development downtown means more revenue for the Columbia Association.
A lot more.
According to the Economic Development Authority's economic impact study, the Columbia Association would net $10,733,786 annually under the General Growth plan, compared to $1,030,044 if current development plans remained in place.
That assuming the current lien rate stays the same and CA doesn't use all that new dough to cut the so-called "Columbia tax."
So what would CA do with an extra $9 million? A sum like that could keep open a passel of underutilized swimming pools.
One is that more development downtown means more revenue for the Columbia Association.
A lot more.
According to the Economic Development Authority's economic impact study, the Columbia Association would net $10,733,786 annually under the General Growth plan, compared to $1,030,044 if current development plans remained in place.
That assuming the current lien rate stays the same and CA doesn't use all that new dough to cut the so-called "Columbia tax."
So what would CA do with an extra $9 million? A sum like that could keep open a passel of underutilized swimming pools.
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