Billy Jones questions the process for the RIDICULOUS downtown hotel giveaway... No study, no shame, no problem, no consequences... for now!
The deal was brilliantly engineered...
Kaplan and Ko. will simply be the landlords and will lease their buildings to the hotel developers... They will in exchange be the recipients of the city council awarded tax rebate, which will absorb the immediate projected increase in property taxes.
In summary, the developer will build the hotel, Windham will operate it and Kaplan and Ko will receive a renovated building, lease payments and tax rebates.
Thank God for rich ex wife, smart partners and "flexible" economic development policies.