The Plain Dealer is reporting tonight on its Cleveland.com site http://blog.cleveland.com/business/2008/04/enlarge_image_pdfmost_of_a.html [1] tonight that a deal is in the making to further subsidize the Wolstein project in the Flats, already in line for tons of public money.
The Port Authority is trying to work a deal so that Wolstein will avoid sales tax (can you do that?) by running the financing through a public body (the unelected Port Authority), which will give the developer "below-market interest rates and an exemption from sales taxes on construction materials," according to the PD report. It doesn't say how much revenue from this tax will be diverted from the public treasure.
To assess what various levels of government are giving to Wolstein's development see:
The list of subsidies is at the end of the article.
As long as we're giving it away, they'll be a'taken it.
Happy tax day, folks. You too, Mayor Jackson.
Links:
[1] //00000049/!x-usc:http://blog.cleveland.com/business/2008/04/enlarge_image_pdfmost_of_a.html
[2] //00000334/!x-usc:http://www.lakewoodbuzz.com/RoldoBartimole/RB%2005-03-06_Flats_Deal_Disgrace_Lakewood%20Ohio%20Roldo%20Bartimole.html
[3] http://smtp.realneo.us/content/politics-breeds-bitter-racial-sterotype
[4] http://smtp.realneo.us/content/roldo-bartimole-0
[5] http://smtp.realneo.us/content/propaganda-fake-crusading-pee-dee