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Post by loser on Jun 13, 2013 14:57:05 GMT -7
from the el paso times................
a new lease contract is approved by the City Council on Tuesday, MountainStar's annual rent payment to the city for use of the stadium would double to $400,000 a year, and escalate 10 percent every five years. The term of the lease and non-relocation agreement would be extended from 25
The council would also have to approve borrowing $60.8 million rather than the $52.8 million it approved two weeks ago, Mayor John Cook said today.
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They arent paying for anything. The taxpayer gets hit with another 8 million dollars. The rent is a joke. Think about renting your house. Lets say you paid 120k for it....would you rent it for 0.007 percent per year? that would be 840 per year.... or 70 dollars a month. 0.007 would make the mountain star yearly payback on 60,800,000 at about 425k...not even the 400k they are offering. so they are paying an effective interest rate of 7 tenths of one percent. What a deal! Even with the escalation clause it does little to make this deal worthwhile. Would a bank or business offer such a rate...nope.
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terri2
Junior Member
Love my Jimmy Choo's!
Posts: 67
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Post by terri2 on Aug 29, 2013 11:02:54 GMT -7
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Post by Saint on Aug 29, 2013 12:17:44 GMT -7
we don't need police officers we don't need jobs filled What we don't need is to keep electing crooked dumba$$like Cook and Byrd
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