Rail Spur

The Tribune reports today, that the City still faces a conundrum with respect to the malt plant rail spur. You see, somebody promised the malt plant a rail spur, but didn't have the money to pay for it. Now somebody needs to figure out where to get $4,000,000.00.

I suppose I could get all critical of the City's error, but it's Friday and I just don't feel like it. Besides, it's been done.

I do think, though, that the Tribune piece offers an interesting insight into City 'optimism.' Fiscal Services Director, Coleen Balzarini, offered an idea:

"One approach would be for the district's current property taxes to be used to cover only interest on a $4 million loan for a set number of years. In the meantime, more development in the industrial area would be expected to cause the district's tax revenues to grow. At some point, taxes would cover both the interest and principal."

Please, no. Solve the problem now. If we have to suck it up and pay for it, let's do so. Don't just pass it on, hoping it will go away.

I wonder how much of this '0ptimism' pervades the City's planning for the Highwood Generating Station?