Page 1 Headline, Wednesday, 22 December:
"Rendel throws SEPTA a lifeline" -- $13 million, not the $30 million needed.
Buried on page B2, Commentary - Headline:
"Another favor for Comcast" -- City Council accepts $30 million from State for Comcast. (Story from 9 December.)
Which Philadelphia entity has enough cash laying around that they could afford to make a hostile takeover offer for the Walt Disney Company -- SEPTA or Comcast?
Clearly, the $30 million the City and State are paying to Brian Roberts could be spent to better benefit the Citizens of both Philadelphia and Pennsylvania by being used on Mass Transportation.
It is clear that there is absolutely no valid economic rationalization for the "Comcast Tower" at 17th and JFK ... the building will not be built without City and State subsidies. The "projected" economic benefits are such pure fiction, and therefore the risk far to high, for private investors to spend their own money.
If the City really wanted to have that "blighted" property in the heart of the downtown developed, they would tax the property according to it's "highest and best use" -- not according to the myth that it is in a "blighted" area of the City and not worth anything because there is no structure on it. After a year of unpaid tax bills, the City could simply sell it at Sheriff's sale and pocket the proceeds. [Yeah, I know, with the state of the Sheriff's department, the City would probably never see the proceeds, but that's a subject for another letter.]
T.T.F.N. William H. Magill [EMAIL PROTECTED] [EMAIL PROTECTED] [EMAIL PROTECTED] [EMAIL PROTECTED]
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