Quote:
Originally Posted by steveosnyder
For 2 reasons, mainly. Mostly because the burbs don't get this benefit (but they won't talk about the benefits they do get that don't come with living downtown). The other reason that people may or may not understand is that the City will still receive taxes for the condos already built, it will just be paid for by the current owner (the developer) rather than the occupant.
EDIT: I suppose that is one reason why I would be for the subsidy; if the City doesn't help the developers get rid of these condos they would need even more justification in the future to build downtown.
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we pay for people to live in the suburbs too....we all paid $55m for roads in waverly west...soon we will build new schools there, sewers, snow clearing, garbage pick up...on and on....we do not incur any more of those costs for downtown development.
it is great to say the market should dictate it all but that simply isnt the reality.....construction costs in downtown winnipeg do not match rental or condo sale prices....the market does not exist without help....hopefully that changes one day but today if we want to steer development into the downtown and create a residential demand that will one day stand on its own market forces, we will have to suck it up and subsidize it....in the context of what we pay for people to live in the burbs its a relative steal.
its bad optics to simply hand out money for sure.....but a real TIFF or the original grant program are essential to move our city forward properly.
like it or not.