Washington's Trillion $--we got it beat!

I'm good at looking at developers and politician's numbers, which are always wrong by 2-3 hundred percent!

Some facts: (Dar's Castle)(Now on the ballot!)

A 180,000 square foot thingy on the softball fields in south PTC has suddenly been, as if by miracle, reduced to 76,000 SF at a building cost (no land) of $130 per SF = Oh, say $10,000,000 million bond.

Taxpayers are to pay $941,000 per year X 20 years = $18,800,000 total with interest, that is $19,000,000 rounded!

Now our income from this venture per year is proposed at $436,000 (that is thousands) X twenty years = $8,700,000 income, as opposed to $18,000,000 payments on the bond!
(No inflation on expenses or income).

Now, will the hotels and restaurants collect enough visitor taxes to cover that?

Now that right there is funny, I don't care who you are!

I assume Dar will maintain the whole thing every year for 20 years? New Roof and all you know? New Zambonis? Provide the Moose menus. and Mexican help?

Oh, I'm just getting started!

Let us look at the rent proposed by the developer: $436,000 per year to the town;
Generally rent shouldn't be over 10-15% of a gross income for the owner (renter) to make a profit. So His proposed income must be $363,000 per month! Gotta get about $90,000 from somebody every 6-7 days for that! Isn't that about $15,000 a day?

Maybe he can get enough of those big conventions into that ice rink to pay extra?

Now, how much taxes per citizens home to pay for the bond? Dar says $25 per a $250,000 home, which I guess is $50 per $500,000 home.

That is about $250,000 income from the tax increase that he is proposing! Maybe $350,000.
That is per year!

The income from the leaser added to the income from us the taxpayers would just about pay the bond, wouldn't it?

That assumes that he makes the $90,000 gross income a week, doesn't it?

I'm willing to look at revised numbers similar to these!

Bonkers's blog | login to post comments

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Submitted by Nitpickers on Wed, 10/01/2008 - 4:12pm.

Dar he say he no interested in ice rink just the residue from it for his gym!
Make it worth more--thought he wuz leasin it?

Now Mayor and Council don't want it neither they say but they wuz a votin on lots uf money for some rec with an ice rink man there pushin it! (Oh, I forgot he is not an ice rink man--so he says---Oh, he wants two but don't want to build them. Is that it?

Whar are thu people pushin fer a buildin about thu size uf the first buildin Dar wanted (didn't he)? I mean a building of many uses...not jest ice stuff and gyms!

Lets us build it on the lot where the new library is! Just surround the library wif a two story recreational and study building for the town and specially the yoots. (or was it Yewts?)

I no youngins air a pain to watch after but we ain't invent nothin yet to get adults wifout em!

Want a partial list of the building we nede?

Running circle on second gloor around everything.
Basketball courts with folding seats.
Computer rooms with controlled internet access.
Of course the library.
Auditorium and stage like Starrs Mill has.
Game room--time limited here.
Dance floor with a dress code.
Teen party salons (no not saloons).
Now you add a few!!!

Maybe Dar will manage it at least 8-10 hours of it!

Submitted by Bonkers on Wed, 10/01/2008 - 6:35pm.

Don't you know those kids would smoke and drink in and near such a building?
Of course they do it anyway somewhere else, usually on a golf cart or by the lake, but at least it ain't a botherin the town rec department is it?
Any of you out there that didn't do those bad things as a kid?

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.