IS IT TRUE it was reported that construction has started on the downtown hotel?….most people

fall into the category that sees the value in downtown development?….none of us really want to

live in a suburb of nothing?

IS IT TRUE assuming that we want a strong downtown, people fall into three categories thereafter?….the first category is those who have no problem with a hotel but object to the tax payer’s involvement in funding the project?….this group of people see the inherent unfairness of subsidizing one private business to compete against those who did not receive a leg up from government?….this is a tricky topic given that business on its own would not build a hotel with 244 rooms in downtown Evansville?…the government has an idea of what’s good for the community but must make a financial offering to help pay for the project to get it done?…the question for these people is what are the odds that any business requiring public dollars to get started will thrive over the long haul?…when we say long haul, we mean at least the length of the 20 years of bond payments?

IS IT TRUE the second category of people are those who recognize that government must at times invest public monies to leverage some amount of private investment?….the Mayor’s office would point to the Arts District as a good example?….the Arts District, with the Department of Metropolitan Development’s math, has garnered about 2.5 million in investment with the City putting in 500,000 of that total?….these people are just as unconcerned about restaurants that must compete with the new subsidized restaurants in the Arts District as they are hoteliers that must compete with the subsidized hotel?….it’s a bit of a greater good argument- what’s best for the community?….it has little basis in conservative views on economic policy?….it’s also probably a NIMBY (not in my backyard) argument, in that hotels and restaurants and barber shops are fine, but don’t go subsidizing someone in my industry?…..these people simply want what they want without any reflective thought on the hotel’s ability to make a profit or the future in general?…they just know it will be grand for 3-5 years before the drapes and carpets need replaced, and the hard truth of lack of profitability of the business sets in?…and after all, it’s the elusive, faceless tax payer’s money anyway?….the hard question that persists is why did this business model need a subsidy to get started if it’s going to be so great once it’s opened?

IS IT TRUE the third category of people were skeptical to begin with but made their way to the compromise that 20 million in City and County combined tax payer funding was loads better than the originally filed 38.5 million bond request?…..they agreed that downtown development is important and found their way to accepting the original deal?….and then something happened?….the price went up, the building got shorter and the amenities and quality of the project were reduced?….to make matter worse, government and its partners fumbled around for years with false start after false start that ate up at least a million dollars in wasted services?….to add injury to insult, the local government had the audacity all through the mistake laden process to act as if nothing had happened?…they called people who questioned the wisdom of continuing the project in light of the changes and medical school approval obstructionist and claimed they were being political?….their overall response in a nutshell was, “look, we’re still getting a hotel, so shut up already”?

IS IT TRUE the devil is always in the details?….the end does not always justify the means?….it is a very real possibility that the cost of any endeavor can ultimately outweigh the value of the finished product?…..for those that crunch the numbers, the issue was never that the hotel would pay for itself?….we’ve always known, even before the price went up, that the bond payments would not be recouped by property taxes or sales taxes in the new sports district?…the argument was that although the City would be upside down after revenue at least 500,000 a year, the economic activity generated by the hotel would put money in the pockets of employees and local businesses?….those are the folks that are supposed to pay it forward by putting their income back into the local economy in all sorts of ways?….ultimately there’ll be some number collected in income taxes from the souls specifically benefiting financially from the development?

IS IT TRUE it all begs the question of just how many endeavors can the City of Evansville go upside on in an attempt to generate economic activity for its citizens?…..where is the point where all of the upside down numbers could have been invested very differently or just handed out as wads of cash to residents?….the Victory Theater was going to transform the downtown, and it annual operating deficit is 700,000 before capital expenses are calculated?….the arena is 600,000 upside down every year on top of a 8.2 million bond payment and varying capital investment needs?….the zoo runs 3.2 million to the upside down every year and is screaming for a 40 million investment?…..Goebel Soccer Complex, Swonder Ice Arena, CK Newsome Center and all of the pools also operate at a deficit?….should we even strive to break even with this idea government sponsored economic activity?….we certainly don’t need to make money, but the concept of breaking even is largely driven by the need for the ability to keep investing?

IS IT TRUE the medical school will cost 3.5 million annually in bond payments and is the only medical school in the state of Indiana built by a municipality?….no one disputes that there will be a positive economic impact?….it won’t have a positive effect on City coffers, but the goal again will be to drive economic activity to employees and local business owners?…it’s just as laudable a goal as all the ones before, except now the City’s credit card is all but maxed out?….the idea (again) in breaking even on these ventures is to be able to keep doing them?…the devil is always in the details?