I’ve been recently harping on the fact that Elizabeth Kautz’s website claims that there will not be a rise in taxes due to the PAC. While that’s a load of bullshit and everyone knows it, she continues to live in her fantasy world by spouting off claims that the upcoming funds from a decertified TIF district will cover the losses.
The TIF district being decertified will grant the city access to about $900,000 in 2011. With the PAC expected to lose nearly $835,000 alone in the first year of operation and at least (according to original estimates) $220,000 over each of the next four, I have a hard time understanding the mayor rhetoric. Perhaps she took a lesson on the economics of the PAC from Dan Gustafson’s own failures?
By my math, the PAC is going to lose at least $1.5 million but it’s more likely that it will continue to lose nearly twice that much because VenuWorks isn’t doing jack shit to get anything decent through the doors of the Burnsville Performing Arts Center and when it comes down to it, they blame their woes on Burnsville. Instead of Burnsville considering replacing the ineffectual management, as of the last discussion, they’re satisfied with the poor job VenuWorks has been doing.
So the TIF district decertifies and Burnsville pulls out $900,000 to cover some of the PAC losses. Where does the money come from to cover the rest? Remember folks, 1% tax increases cover ~$250,000. How inconvenient for the mayor.
So I want to know, who’s right here? Is the mayor going to make me eat crow when the TIF district decertifies and pays off all the PAC’s current debt or will the mayor have to step down, head hung low, because she took on an impossible bet and lost? So which is it. Crow or not?