Wednesday, February 25, 2009

Mayor won't spend money to make more money???

The Herald reports that Menino won't fix the garage at Winthrop Square garage. What they don't report is that the previous tenant who rented the garage from the City lost a lawsuit from the City for not maintaining the garage properly. As a result of the suit, the tenant had to pay the City $2 million dollars according to the BRA.

What did the City do with the money? Well, they never got the money they just let the settlement go to the BRA to give away. The city and the citizens got nothing, and that money didn't go into fixing the garage. The reason? Menino wants to give away the property for free to one of his developer buddies.

If we sold this one piece of property we would get 70 to 100 million dollars and we would start collecting tax money on the property as well. That is what I would do as Mayor in my first year. The budget deficit would be nearly over with just the sale of this property and Hayward Place.

See my video of this property here.

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