December 15, 2011 09:46
A report coming to City Council on Monday, December 19 shows that, when all is said and done, River Landing will return an estimated $8 million back to the city. This will be a huge relief to tax payers who may have had the perception that River Landing is a black hole that is costing the tax payers ever increasing amounts of money. The latest report shows quite the contrary. Any cost escalation from the original investment will, in fact, be covered by the sale of the land. We also expect that the operating revenue at River Landing will cover the ongoing costs of operation.
The result is that River Landing will end up being a WIN/WIN project. We will have rejuvenated our river bank, and we'll realize an $8 million return on our initial investment. Furthermore, the residents of River Landing will supplement the tax role with multiplied millions of dollars in property taxes over the years to come.
For more details view the documents below...
River Landing Report.pdf (333.10 kb)
River Landing Attachments.pdf (72.22 kb)