Why do governments that supposedly have a shortage of resources always have plenty of resources to get tangled up in property development schemes?
The county currently has a budget shortage to the point that roads are not being maintained, and Vallejo is coming off a municipal bankruptcy. Yet, the county had $4 million to “research” a shopping development for the fairgrounds. Now they want to sell $94 million worth of bonds to underwrite this lavish scheme.
If this shopping center concept is such an obvious moneymaker, wouldn’t there be a line of capitalists queuing up to get in on the deal, by risking their own money to get in on the profit? At least with private investors, if there is a loss, we the citizenry will not be holding the bag. If all the rainbow and sunshine estimates the consultants have theorized will happen don’t, will the consultants make up the shortfall? Will the politicians pushing it make up the shortfall?
Nope, we the people of Solano County will pay.
The $4 million spent on consultants could have gone to fixing up the dilapidated fairgrounds. If the horse track/golf course is surplus property, then sell it off to a group that can put it to good use. Then take the proceeds and focus on upgrading the portion that will be used by the people. Then have the county return its focus to basics we the citizens of Solano County expect. Hint: developing shopping centers is not one of them.