I Want My Half
by Maria Tomchick
The City Council voted last week to put Key Tower on the block,
because the city needs the money. Big surprise. Who could have
foreseen it? Especially after the city gave away $73 million
for a parking garage for Nordstroms, including a $23 million
"incentive" over and above the cost to build the damn thing.
Last Thursday, Washington State Auditor Brian Sonntag gave his
approval to the Nordy garage deal. Yet he also criticized the
city council for the lack of public debate and disclosure while
they worked out the details of the scam with developers. The
council held only one poorly publicized public hearing
after the deal was already completed. Sonntag says
that's not illegal ... just not very smart. As if we needed his
opinion...
Yet one more disgusting detail has surfaced over the management
of this money pit. If the city buys the garage (which they
surely will--why else sell Key Tower to free up extra cash?),
the city will be required to subsidize 50% of all parking
validation coupons issued by Nordstroms and other retailers in
the Pacific Place Mall. In effect, the city will be giving
Nordstroms and other retailers half-price parking in the new
luxury garage. Already, critics claim the garage won't pay for
itself. With this subsidy figured in, the operating loss to the
city could be staggering.
On the other hand, folks could consider the new parking garage
a public facility, and demand free access to it. Let's see, the
garage holds 1200 vehicles, and at least 600 of those spaces
will be subsidized by the city (rented for us). A few of us
could pitch tents in our favorite parking spaces. Why not? I
want my share.
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