Town Square plans split GT
By Stephen Wall Staff Writer
Wednesday, June 01, 2005 -
GRAND TERRACE -
Residents are divided over plans for the city's first major retail center.
......................... "The project is expected to generate about $600,000 in annual sales tax revenue money that could pay for law enforcement, fire protection and road repairs, Schwab said.
The new 7,500-square-foot county library branch would be nearly three times the size of the existing library branch at City Hall.
The city or Redevelopment Agency would lease the library from the developer for about $7,000 a month, Schwab said. "
Schwabs Library Lease Plan
@ $7,000.00 per month times 12 months
=$82,000.00 a year paid to the Developer
in 10 years, that would be $820,000,
and in 20 YEARS
$1,600,000.00
AND THE DEVELOPER WILL STILL OWN THE SPACE.
NOT GOOD USE OF CITY OR CRA FUNDS
