At Wednesday's public hearing on Yonkers' downtown development, representatives of community organizations advocated that the City Council commit ASAP to the downtown development project. They espoused the claimed benefits; however, did they mention the immediate additional general operating and debt liability cost that the taxpayers will have to pay over the next several years? Did they they say how long it will take before the new development projects will generate enough revenue to offset the additional municipal general and capital expenses? They did not mention that the council is aware it will have to seek more taxes from the average Yonkers resident this year and in each of the following years.
To read the whole letter by Kevin Gorman go to
http://www.lohud.com/apps/pbcs.dll/article?AID=/20080516/OPINION/805160351/1246/NEWS0224
