Let’s play the old game, “Who Am I?”
- I will be a regional draw
- I will revive downtown
- I will raise a lot of tax revenue
- I will be self-supporting
Who am I? If you guessed Museum Square, you’re correct. And if you guessed the Civic Center, you’re also correct. Yes, the promises are remarkably similar. Also remarkably similar: the prospect that this project will not be self-supporting and will need ongoing help from the city to keep it afloat.
Councilmen Manning and Jacob ran the numbers, and this project has even less of a chance of being profitable than the water company buyout would have been in its proposed first year. They convinced the council to change the language of the redevelopment agreement amendment to say the museum collaborative will not ask for any more money from the city.
I applaud their effort, but realistically, everyone knows the museum is going to come back for more money around 2010. And what’s the city going to say? “No, we’ll let the museum close down and have a big vacant building on the Sears block again”? Not hardly. No, we’ll be subsidizing this thing for many years to come. And it started last night with the vote to give them more TIF (Tax Increment Financing) money.
Same promises for the Ballpark also. And very similar to those promises at time of Riverfront Development of Festival Park, Gateway Building and Riverfront Village.