The current council majority has shown, through their dealings with this property, and the Library lot property, that they cannot be trusted to extract the maximum community benefit when disposing of Public Lands. In addition, the terms of the bond deal seem designed to benefit the banks and not the taxpayer - if we are suggesting an interest-only payback in a time of uncertain credit markets. Could have a poor outcome for taxpayers if we fail to dispose fo the property in a timely manner.
The current council majority has shown, through their dealings with this property, and the Library lot property, that they cannot be trusted to extract the maximum community benefit when disposing of Public Lands. In addition, the terms of the bond deal seem designed to benefit the banks and not the taxpayer - if we are suggesting an interest-only payback in a time of uncertain credit markets. Could have a poor outcome for taxpayers if we fail to dispose fo the property in a timely manner.