OUR OPINION: River View risk could bring rewards
... There is no question $12 million is a lot of money, and an economic risk. What happens if the city builds the garage, the economy tanks again and the proposed condominiums and other retail slated for the development fail to materialize? The city and its citizens would be stuck holding a $12 million parking garage, a garage that would sit empty and be the punch line of future jokes.
But in order to grow and attract businesses, governments sometimes have to take a leap of faith, and provide incentives. That is what New Albany is doing. The city would build the garage, with hopes it will spur development.
Sunday, May 15, 2011
River View: Newspaper editorial expresses "hopes" for economic development.
That the News and Tribune's editorial board persists in perpetuating a fallacy, wherein the YNCA and River View both are cut from the same bolt of economic development cloth, is depressing. There are other reasons to be depressed, but at least it goes to show that someone's reading DNA's press releases.