Friday, September 18, 2009

How to Fund Big Capital Projects in Nashville: Commit First and Worry about Funding Later

It has become a formula for big ticket Mayors in Nashville: only worry about how to fund inevitable budget shortfalls and increasing costs after you are neck deep in construction or married to large-box builds. By that time Metro taxpayers are left to ask, "What are we going to do with it if we don't raise property or sales taxes?" Mayor Karl Dean is on his way to breaking it so that the rest of us will have to buy it:

We should take CM Jim Gotto's wish that local taxpayers not be on the hook for MCC with a grain of salt. Mr. Gotto once signed Tennessee Tax Revolt's pledge not to raise taxes and afterwards voted for a budget that did so.

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