Well, well, well ...

Now, the City Council that approved this outrageous tax giveaway can ask the City Manager to provide a current (to-date) version of the ROI analysis that supported the conclusion that Capstone needed that amount of tax break or the ROI would not have been great enough to make the project feasible.

I can tell you that I worked with knowledgeable real estate folks at the time; and even using Capstone's own figures, at most 7 (not 10) years of tax exemption would have been sufficient.

This was one of the most shameful deals that Piercy, Zelenka, Ruiz and the others pushed through at great loss to our community.

What a disaster!

-- Paul