Pardon me...

...your math is showing.
Mayor Schock defended the Artspace project by saying that it would for the first time be paying property taxes.
Let's examine that for a moment. We are going to use $14.5 million tax dollars and maybe collect $100,000 in property taxes once it gets going.
It will take us 145 YEARS to return our investment!

CORRECTION! I made a mistake above. It is a wrong assumption to think the $14.5 million is the total investment. Remember that this will be SUBSIDIZED housing, so even more tax money will be pumped into the project. If the average per unit Section 8 subsidy reaches $151.52 per month, it will be mathematically impossible to begin paying off the debt.