Here's the facts
Ms. Rose
You posted here saying you knew the facts yet I see that you are giving yet another group of numbers that are different than the ones I have heard before. You are stating that this PROPOSED Community Authority would have 3800 homes in it, at a mean cost per home of $225,000. This would also produce a GROSS $35 Million.
Clearly you talk about funding as if the money coming from this Community Authority will fund the needed Capital Improvements for these 3800 new families. If you go to the bank and say I have a guaranteed $35 million of income over the next 30 years or so (because no one has stated just how many years this CA will be). They will be able to only loan you $22,500,000. The other $13,000,000 will be interest payments for borrowing the money. So you are not correct in saying we will receive $35 Million from this CA. We will receive around $22 million if your gross figure of 35 million is correct.
Bruce Rigelman laid out the capital costs for these new students and I do not believe he was using your figures but more down around 3000 new homes. In any event the figures are so far off that I don?’t need Bruce Rigelman?’s numbers to challenge your claims here. Bruce talked about the CAPITAL costs being upwards of $150 million. So if your CA brings in $22 million and it costs us, as taxpayers $150,000,000 how is that a good deal? It is like buying a bag of quarters for a $1.50 each using your logic.
If we don?’t have the students from these 3800 new homes then we don?’t need to be building new schools and the ones we do build will be over longer time spans. The current High School was built in 1991 and now we have a second High School in 1993. The current tax payers funded or are funding those buildings. If the new high school would not have built until say 2007 I believe the taxpayers would have been more than willing to support the school OPERATING Levy. This district has been more than generous for years now. You can?’t be placing a school issue before the voters every year an expect them to be happy about it. That is exactly what your position seems to be.
If you go back on this web site look for a copy of Professor Alan Pringle study on cost of community services. I am sure you will find that NEW residential housing developments cost the community $1.50 in services for every tax dollar they receive. So all of these new homes being built they are costing us all money. Now if you balance that with commercial then it costs the community about $.50 in services for every dollar received. So if you want to tie residential growth to anything tie it to community development and we break even.
Ms. Rose
You posted here saying you knew the facts yet I see that you are giving yet another group of numbers that are different than the ones I have heard before. You are stating that this PROPOSED Community Authority would have 3800 homes in it, at a mean cost per home of $225,000. This would also produce a GROSS $35 Million.
Clearly you talk about funding as if the money coming from this Community Authority will fund the needed Capital Improvements for these 3800 new families. If you go to the bank and say I have a guaranteed $35 million of income over the next 30 years or so (because no one has stated just how many years this CA will be). They will be able to only loan you $22,500,000. The other $13,000,000 will be interest payments for borrowing the money. So you are not correct in saying we will receive $35 Million from this CA. We will receive around $22 million if your gross figure of 35 million is correct.
Bruce Rigelman laid out the capital costs for these new students and I do not believe he was using your figures but more down around 3000 new homes. In any event the figures are so far off that I don?’t need Bruce Rigelman?’s numbers to challenge your claims here. Bruce talked about the CAPITAL costs being upwards of $150 million. So if your CA brings in $22 million and it costs us, as taxpayers $150,000,000 how is that a good deal? It is like buying a bag of quarters for a $1.50 each using your logic.
If we don?’t have the students from these 3800 new homes then we don?’t need to be building new schools and the ones we do build will be over longer time spans. The current High School was built in 1991 and now we have a second High School in 1993. The current tax payers funded or are funding those buildings. If the new high school would not have built until say 2007 I believe the taxpayers would have been more than willing to support the school OPERATING Levy. This district has been more than generous for years now. You can?’t be placing a school issue before the voters every year an expect them to be happy about it. That is exactly what your position seems to be.
If you go back on this web site look for a copy of Professor Alan Pringle study on cost of community services. I am sure you will find that NEW residential housing developments cost the community $1.50 in services for every tax dollar they receive. So all of these new homes being built they are costing us all money. Now if you balance that with commercial then it costs the community about $.50 in services for every dollar received. So if you want to tie residential growth to anything tie it to community development and we break even.