A boost for University Circle, and a huge sucking sound for all the rest of us. When the 150 million dollars hit University Circle (golly, I just marvel at how these bankers couch "taking risk"), it will put that much more pressure on for putting freeways through our Cleveland neighborhoods, so that scores more suburbanites can breeze blithely over to the new jobs in the Circle and never really touch down in Cleveland proper, never be breathed on by a Cleveland resident, never stop in a Cleveland business. Heck, they'll never have to lock the car doors, until they park.
I wonder: How much of this money will work its way up into East Cleveland? Over to Glenville? Let's start keeping track. Let's help redefine "risk."
And, by the way, we don't need any more "affordable housing." We already have it, tons of it, and we just need to fix it up--"waste not, want not" should be our motto, just like in the old days. We also don't need any more "market-rate" housing, the new buzz-word for the type of residential unit which, when built, leaves two or three (figures, anyone?) existing houses vacant, and does so on a tax-abated basis.
I heard yesterday that Cleveland will collect $800,000 less in property taxes this year than last, and the city income taxes are flat--none of the anticipated gain is showing up.
It's time to end the con.