Question: If a site is currently paying $50,000 a year in property taxes, and with a PILOT it will pay $300,000 a year, which option pays more in taxes?
O’Donnell Team: Paying $50,000 a year is better. That way we don’t get stuck with a new attractive building that will raise property values.
Question: $300,000 per year isn’t more then $50,000?
O’Donnell Team: No. $50,000 per year is more. Trust us we know.
Question: Do you favor new structures going up on vacant or underutilized properties?
O’Donnell Team: Of course we do, as long as it is not in anyone’s neighborhood.
Question: Why not in anyone’s neighborhood?
O’Donnell Team: Because the neighbors will be unhappy and we can’t take the heat.
Question: Current tax agreements total $516 million compared to $51 million if the properties are left as is. So should we walk away from the $516 million?
O’Donnell Team: Yes we should walk away. The only good tax agreement either produces little for the City, or is not in anyone’s neighborhood. $516 million reduces our budget hole, why do we want to do that? Give me 51 million every time.
Question: Do you have any plan to reduce the budget hole that Mayor Davis inherited four years ago?
O’Donnell Team: Of course we have a plan, it’s right next to our parking plan and our recipe for Egg Nog?
Question: Can you tell us about the plan:
O’Donnell Team: No, but I can tell you we make a mean egg nog!
Question: Really?
O’Donnell Team: Really!