Phantom project highlighted in city bond rating
Housing permits boosted by commercial projects
BY EMMA PEREZ-TREVIÑO THE BROWNSVILLE HERALD
While the city continues to experience a slump in new housing construction, it stands to benefit in taxable gains from a 20,000-unit residential development set to break ground, according to a bond rating report released March 28.
However, city officials explained that no such development has been planned.
“A large 20,000-unit residential development is poised to break ground in West Brownsville providing large taxable gains over its projected five-year buildout period,” according to Fitch Inc., a bond-rating firm.
Well, someone in the city is lying again! Oh, there will be backpeddling, "clairifications", what-have-you but the fact remains that like the Grinch in the story, "He thought up a lie and he thought it up quick.", flashes across the forefront of my mind.
Why didn't they just say, "City is breaking ground on a 2.5 Billion dollar residential development."? Because there is no sane person that would believe that.
How about,"City expects an extra 300 residential building permits per month for the next 5 years straight."? Because that is patently silly, too. Our most killer single month ever for housing starts was in 2006 with 119.
Who are we going to put in all these houses? How much phantom commercial development will be needed to support all this phantom residential expansion? Maybe we could then actually get that phantom Macy's to put in next to the Sports Park (you saw that comming, didn't you?)
Is there someone in our city standing in a corn field hearing an airy voice out of
nowhere saying, "If you hype it, they will come."?
If our financial picture regarding bond ratings is so great, why this? Why risk the city looking like a used car salesman in a plaid jacket with a striped tie? Let us never forget the perenial question,"Who stands to gain?".
Someone made up a whole bunch of supporting doo-doo for this "mistatement" of a "development" that isn't there.
"Of course I know. It is my business to know." -The Merovingian
Tuesday, April 15, 2008
A little late for April 1st, sadly
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West Brownsville? This is, like, some kind of humor thing, right? The only thing west of Brownsville is Mexico.
YAY! The spirit that brought Titan, and Dannenbaum, the Sports Park, and Events Center is alive, well, and obviously festering like an infected fever blister on the lip of Mexican busdriver three weeks into a mescal binge.
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