As a follow up on the post below about Boise City’s land manipulations, the GUARDIAN will attempt to run a play-by-play as we learn more under this post.
–The land at 950 Citation off Gowen Rd. is valued by the County Assesor at only $232,600, but the city is acquiring it for $415,000. We can see no “public purpose” for the city to own the parcel on the north side of Gowen which is bounded by other private land.
–We checked with a CPA and confirmed that if a private party trades property valued at more than he or she receives, they can indeed claim a tax deduction for a “charitable donation.”
–Boise City has previously traded three other parcels in the 25th and Fairview area to the docs, again skirting the open bid law.
WEDNESDAY 9/17/08 UPDATE
Boise Cynic offers some insight in comments below which prompts us to consider this project in the context of the overall financial news in the world today. Banks are failing at a record rate, insurance companies are bankrupt, corporations are cutting jobs, natural disasters are a daily event, and GOVERNMENT BAILS OUT EVERYONE! In Boise they pay with land while the Feds just print more dollars.
Where the hell does the money come from? Truth is, there is no more money–we just go deeper
and deeper into debt, either as a nation or individuals. Some people and businesses should be allowed to fail. That translates into smaller houses, more efficient cars, lower wages, fewer airlines, etc.etc. In short, less GROWTH.
Unfortunately, GROWTH has become synonymous with living beyond one’s means. Diddling cost estimates or appraisals doesn’t create more value.
Boise Councilors Tuesday approved the deal explained in the previous post without a word of debate. It was buried in the “consent agenda,” a batch of items approved in mass.
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