tag:blogger.com,1999:blog-3429342286679609717.post6130366500619697204..comments2024-03-06T06:52:39.051-05:00Comments on The Lexington Streetsweeper: Some Things That I Cannot Let PassThe Lexington Streetsweeperhttp://www.blogger.com/profile/15951887343694165562noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-3429342286679609717.post-55071720981290291232009-07-24T09:33:55.159-04:002009-07-24T09:33:55.159-04:00Just cam e across this response - it's too bad...Just cam e across this response - it's too bad you did not post it to the AceWeekly blog where we could discuss it in a more widely read forum. <br /><br />It's funny to look back at this article after a few months as a lot has changed.<br /><br />$10,000 a day comes from the Webb's website - it's the amount of revenue the completed project is estimated to earn for the city once it is complete. When the project is complete, they will get a discount rate of 0.36%. Their current rate is roughly 1% and they are paying that on the new valuation which is either eight or ten million.<br /><br />The point is that the city is losing a lot of money having a big empty lot sitting in the middle of the city as opposed to having the income from the completed project. The city council should be upset about the situation, no?<br /><br />As we established elsewhere on the interwebs, the city can use eminent domain to buy properties and resell them - they are doing just that in one part of town as we speak. Not surprisingly, Webb is trying to make the property look less blighted - why else would he spend $300K for grass that he does not need to.Andrew Wylliehttps://www.blogger.com/profile/06699424907771483776noreply@blogger.com