Can the (Greensboro, NC) News & Record please get a friggn' straight answer to the question of Greensboro's liability for the hotel bonds?
Amanda Lehmert and Joe Killian reported, without attribution, that "local taxpayers are not liable."
Today, Taft Wireback and J. Brian Ewing report, also without attribution, "local taxpayers would not be on the hook if the project failed" but add the curious and unexplained "at least not directly." [Emphasis added.]
Still, Killian promises there are absolutely no circumstances under which the City would have any liability for the bonds.
Hello?
Am I wrong in thinking that this is federal money which means it is taxpayer money?
ReplyDelete--Brandon
What the bonds deliver is a tax-free return -- that is the extent of the government's upfront contribution: taxes uncollected on the interest earnings of the bonds. The government is not providing the project capital.
ReplyDeleteI'll be writing more about this this week.
ReplyDeleteBut I'm not promising anything - I'm just reporting what other people far more knowledgeable about and involved in this process say emphatically.
I meant "promises" to the extent that you stand behind the accuracy of your reporting.
ReplyDelete