Comments on: Avimor Parent Could Leave Arizona Buyers On The Hook

By: dog

dog — Thu, 06 Jan 2011 22:58:08 +0000

We need to give the rich more tax breaks so they won’t feel like fleecing us tax payers so much.

By: Sisyphus

Sisyphus — Thu, 06 Jan 2011 20:29:06 +0000

As I recall, the bill had bipartisan support until Mayor Bieter warned of just this consequence. Then Republicans rammed it through.

Capitalism should have risk. Developers used government to ameliorate their risk and spread it to their dupes, er, homeowners allowing the developer to escape the consequences of failure. Sounds like socialism to me, and one which would artificially create an unsustainable real estate bubble. People better wise up and recognize whose got their hands on their wallets.

By: sam the sham

sam the sham — Thu, 06 Jan 2011 19:24:02 +0000

Rather like the problem residents of Boise County are facing… the people they trusted made an error in judgement, were sued, lost the law suit and (do the idiots making the decision pay – no o o o ) the tax payers will foot the bill.
Always it trickles down leaving the money in the deep pockets.

By: Bill

Bill — Thu, 06 Jan 2011 16:32:54 +0000

Suncor probably wishes Team Dave had won its lawsuit against Ada County.

By: Jimmyz

Jimmyz — Thu, 06 Jan 2011 05:09:33 +0000

Boise got its first equivalent to a CFD with the CID that was set up for the new Harris Ranch subdivision. First of its kind in Idaho. Similar requirements…extra taxes based on value of the home to fund the development. I didn’t know the homeowners were on the hook if it didn’t work out though. I thought the bond holders took that risk.

EDITOR NOTE–We often hear the idea the risk is on the backs of the bondholders. Do you think they will simply say, “aw shucks I lost $14 million?” There aren’t many loan deals that don’t require collateral and the bondholders will quickly go after sewer, water, roads, etc….or even ski lifts!”