Ever since the financial terms for the proposed Austin Street project were announced by the city, questions have been circulating about whether or not Newton’s taxpayers were getting a bad deal.
Well last week in the TAB, Rob Gifford, a Newton resident,president and CEO of AIG Global Real Estate Investment Corp and a guy who clearly understands these things far better than any of the arm chair critics or defenders of the project possibly could, analyzed the terms of the deal.
..I recognize and respect that there are different perspectives and concerns being discussed and debated by the community and the Board of Alderman. However, we should take the questions surrounding project economics and city fiscal benefits off the table. This is a fair deal resulting from a thorough planning process, resulting in manifold benefits to the City of Newton.
Read the whole thing and let’s discuss.