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Wednesday, July 25, 2007

Just checking

You know all that money the City of Portland has borrowed to build all the pretty infrastructure in the Pearl and SoWhat districts? It's all going to be paid out of increased property taxes as values keep rising.


And if there's a problem with that, we'll figure out something.

Comments (12)

And all the money the city needs to pay for fire, police, and other regular services to that pretty infrastructure will be covered by reducing services to your neighborhood.

Yes, this is the little thing they don't talk about. For example, SoWa has about $100M worth of improvements between road/site/tram. We still need another $100M to make the site accessible by I-5.

So $200M total paid for what 1000-2000 residences (remember OHSU bldg doesn't pay prop taxes.) At best each guy is facing a $100K (w/o compounding) total.

Just to complete your laugh, read yesterday's O, poor Homer is only selling 3-4 condos a month. At this rate, he should be sold out by 2525.

Both are amenable to a final determination of rights with a compete release going forward. Think of it as rivers of cash, not water. In Re Willow Creek.
pdxlawg.us/casenotes/074_Or_592_WillowCreek.pdf (warning 3+ MB)

It is just like a claim to having a priority of right to a public resource, here a dedication of future appropriations or a tax tweak.

See too an early variation of revolving fund derived from sale of prisoner made bricks, in a challenge based on appropriations. Read dissent, ". . . would open the doors to unlimited extravagance in the administration of public affairs."

Think Clean Slate every election cycle as a remedy. Not to tweak assumptions about or promises to be met in the future.

...would open the doors to unlimited extravagance in the administration of public affairs.

No kidding?

Do you really think that could happen?

1914 . . . 2007 . . . 2100 . . . think of the possibilities.

I'm still having trouble wrapping my head around the concept of "unlimited extravagance" on the part of guv.

Could it be...?

Millions for "Dreamers"...

...not one cent for infrastructure!!

"we'll figure out something"

Yeah, out at the new BIG BOX cluster that devored $60 million for an anti-big box plan they need more access for the flood of cars they hate so much.
Since the Airport Way Urban Renewal district money pot is maxed out the city is going to stiff the neighbors to pay for a 92nd ave extension and new bridge over the slough. This forced LID, Local Improvement District, wil require business that have no need for the acces to pay huge sums for nothing.

And Homer is quoted in the Big O as saying that condo sales are down in the SOWA but "not to worry" cause their still good enuff. (But he sold one of his building lots down there to some out of town rubes to build apartments on.)

Greg C

Sam "Chicken Little" shouts:

The roads are crumbling! The ROADS ARE CRUMBLING!


as with Vera, his simulacrum (tee hee), Sam would probably have exactly zero knowledge of the condition of the roads; at least from experience, that is.

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