"There is no tangible evidence that there's going to be any net job growth because of this," claims Dr. Thode. Sure, Allentown will get new jobs, but they'll be poached from other portions of the Lehigh Valley.
Updated Sunday, 12:15 AM: This story also appears in The Blaze, along with 55 comments! I liked this question: “How can a city/state spend money on a sports statium when there are people living on the streets and eating out of garbage cans?”
25 comments:
Pray tell, how did they blame Obama for this?
And when they explained it did the hoochie mammas uncross and recross their vasolined legs while looking provacatively into the camera with pursed lips?
12:35 am
What are you talking about palumpashitsky main cheerleaders lower lips to grease the fat folds for penatration.
both the city and mr. thode are wrong. needless to say, the arena will not be transformational. as for mr. thode's contentions; first and foremost, although the payments may have exceeded the apprised price of the real estate, the merchants were not otherwise compensated for the interruption of their business, and in some cases, the termination. furthermore, in the one specific cited, the previous deed transfer (referred to as price paid) actually represented two partners buying out the interest of a third, in the real estate. the notion that the taxpayers overpaid for the arena real estate, ironically blames the true victims of the arena.
It's usually not constructive to rout for failure. But in the case of this arena boondoggle, abject failure would be particularly sweet as a teachable moment for those who think rewarding rich developers will someday trickle down to a community that was just displaced because they aren't considered to be the right element for a Caucasian downtown. I hope Allentown ends up worse than Reading. And there are pretty good odds it will.
Yep, saw this on the Foxnews Website yesterday. Amazing how we make the national news always in a dubious fashion!!
I wouldn't expect Bernie to care much about whether he's making economic predictions that are accurate, but I'm surprised that Dr. Thode seems to be writing off agglomeration economics wholesale. This is what Paul Krugman received the Nobel Prize for in 2008. The central finding is that there are increasing returns to density. Even if the only thing the NIZ did was pull businesses from surrounding municipalities and pack them more densely into Allentown's CBD, agglomeration economics would predict that this would result in a faster overall rate of job growth than if those firms remained spread out in low-density areas. I don't believe the idea that there's going to be no net job growth from the NIZ, but even if it was just shifting businesses around within the region, that alone would result in faster job growth. It's disappointing that an academic professional would ignore such an important corner of the development literature to make a political point.
I saw today's paper and everything is going to be OK again,senator Browne said so.
Allentown Democrat Voter
Paul Krugman received the Nobel Prize for in 2008 for bashing Bush. All the intelligentsia were fine with that. Please don't pretend otherwise.
Scott Armstrong
Wizard of OZ time in Allentown. If the arena gets built we will see what reality develops.
All the rest is BS theory the deluded pseudo erudite idiots connected with this project spout.
Build the damn thing. The scene will be like the beginning of a Clint Eastwood western compete with tumbledown rolling down Hamilton Street.
Jonathan,
There will be no net growth bc Reilly's strategy is to poach other LV businesses into the NIZ. He is already sending them flyers, although you would not know that from NYC. It's not complicated.
Speaking of disappointments ....
Citing an article by Pulitzer Prize-winning reporter Dan Hartzell on Pennsylvania traffic fatalities involving drivers over 65, Geeting brilliantly concludes that: 1) this is due to sprawl; 2) driver's licenses should be taken away from seniors (his predictable call for a "policy intervention"); and, 3) by confiscating seniors' drivers' licenses, this would lead seniors to occupy his marvelous "dense urban cores."
That our public school system (and some university, somewhere) socially promoted this demagogue incapable of even basic critical thinking should give pause to every American who believes education is the key to our future.
That he expects anyone to take this stuff he spews seriously leads me to believe he is one of those kids who was raised in an environment where he was rewarded for accomplishing even the most mundane of tasks.
"Look, mommy, I had a poopy."
"Good boy, Jon, you deserve an ice cream cone!"
Amazing!
So did Glenn Beck!
http://www.theblaze.com/stories/pa-city-pays-too-much-to-buy-off-businesses-to-clear-way-for-hockey-arenataxpayers-foot-bill/
I love this part of yesterday's Call article about Sen. Browne's meeting: "The bottom line is the zone is going to create enough capacity to handle the annual debt service without tapping into the current funds," Browne said. "I think they understand what we're doing, and I think they are more comfortable about how we're doing it. It was a good meeting."
Senator Browne cannot be serious. Obviously, the worst case scenario here involves using the EIT funds to service the arena debt. Why else would this EIT grab be written into Browne's law?? If the "powers that be" didn't think we'd need the money, they wouldn't have stolen it in the first place.
Outrageous.
Another point. There is nothing in the law that creates a pecking order, relegating EIT to use ONLY if other funds are insufficient. t guess is that EIT, along with sales and income tax revenue, will be apportioned to pay the debt service ... and for a project outside the municipality of the tax district. In the case of L Scn Tp, it is directly against the wishes of voters who designated the funds for open space.
Retired ASD teacher here.
The Morning Call article is very light on details. So what's new?
Agree with Monkey Momma. If the funds will not be needed, why are they even written into the scheme?
Why not write them out now to assuage anyone's concerns?
If the funds are merely to be held in escrow, will they be paid back with interest, and at what rate?
Does not eventual use of these funds represent building a private individual's equity with public money?
Use of these funds would never stand up in court. Unfortunately, it appears no one is willing to challenge.
With B Obama being given a Nobel Peace prize for no contribution to society whatsoever I believe we can all conclude that that 'prize' is no longer of value.
The Nobel Prize has been rendered political bullshit. Evidence: Paul Krugman. He's borderline retarded. Good grief.
"Use of these funds would never stand up in court. Unfortunately, it appears no one is willing to challenge."
Isn't Abe Atiyeh challenging this? What is the status of his most recent lawsuit(s)?
Everyone should keep in mind that although the legislation speaks of what revenues Allentown can use to service the debt, according to my sources, it does not specifically say which cannot. Therefore, anything can happen in a worse case/very likely situation.
Scott Armstrong
Speaking of Senator Browne and the NIZ, I wish he would stop sending invites a few times a year for his fundraisers....party at the Grube's...now an "Irish" get together... I don't even live in his district, yet he solicits for hundreds of dollars from me, and then is a driving force to take tax dollars from the outside municipalities for this NIZ??
Related, I saw in the paper that all the home hockey games will be televised for free on Service Electric....who needs to go to the arena now?
Lighthouse,
Browne is also now running to represent the 15th Congressional District at the National Republican Convention this Summer. I don't believe that he deserves that king of honnor, and to be honnest I hope someone primaries the heck out of him!
This outrageous behavior proves Senator Browne is nothing more than a classic RINO.
He can run all he likes but he will not be able to hide from his major involvement in the $ 160.0 million dollar PALACE of SPORT.
Plus, people WILL remember his wife's activities, as well.
ADRIANO THE SPAMMER
PS FDAA,
Thanks for all the traffic!
It does not take a rocket scientist to figure out why, all of a sudden, Adriano has become such a "loyal reader" who likes to comment so much.
Noch ein Mal, vielen Dank.
Looks like FUTURE DOWNTOWN ARENA ATTENDEE got a little bit of ink over at The Blaze, as well.
I wonder if Glenn Beck will be calling FDAA to schedule an interview?
:)
FDAA, If you want to personally attack a reader, you'll have to identify yourself instead of being a coward.
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