Sat Feb 11 2012
Winning at the game of Monopoly involves a strategy of securing critical locations on the board. Recall that you hoped to land on "Boardwalk" and "Park Place" so you could buy them from the bank and later build houses and hotels to collect the greatest rents. Idle real estate was the "curse."
Hudson's city administration has been playing the Monopoly game lately. I'm thinking about the Route 8 corridor, our western border -- the Season's Road interchange; the Route 303 intersection; and Hines Hill Road/Boston Mills Road and the Turnpike. With the planned hospital development at Seasons Road, the Hudson Crossings commercial zone at 303 and 8, and the Youth Development Center grounds on Hines Hill, is our game board secure?
Reports are we have risked about $2 million on shared infrastructure cost at Seasons Road; approved tax abatements for new business at Hudson Crossings, amounting to $1.5 million for the schools alone (which is asking for a 5.9-mill tax levy bump this fall); and about $7 million for the YDC (with potential uses still under consideration). Added up, a sum of $10 million to $11 million perhaps. Rewards are all based on a "Pollyanna" view of future business conditions. Not too promising.
Each decision by our city required a big up front investment or expenditure. Risked funds are dear. Our "rainy day" surplus has been compromised. We've bet house money on a potential hospital, additional commercial development, and speculative parkland with its use not predetermined. Our school system bargains away significant revenue, and we pirate commercial firms from our neighbors with a better incentive. But our tax revenues still depend on our residential property owners. Do we just have more idle real estate now?
Council is not playing with Monopoly money any more.
Don Flower
Hudson
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