In the fairyland of Leftism, Choo-Choos create wealth, not to mention beautiful unicorns and happy marriages, strictly above-average children, strong women, and handsome men. Besides that, 'the rain may never fall 'till after sundown.....'
...An estimated $8.7 million would help pay off a $9.6 million debt, an
amount that includes interest, from the tax district used to help pay
for the renovated downtown Intermodal Station, 433 W. St. Paul Ave.
The Common Council and Barrett approved that district in 2005, with
the city providing $6 million for the $15.8 million project. The station
is owned by the state of Wisconsin, which leases it to Los
Angeles-based Wilton Partners. Wilton subleases space to Amtrak and
Greyhound Bus Lines.
The station's value has declined dramatically, from $14.8 million in
2009 to $4.6 million in 2012. Most of its office and retail space
remains vacant, according to a Department of City Development report.
Also, expected housing developments near the station failed to happen,
the report says. As a result, the financing district is generating a lot
less tax revenue than expected.
Gee. What went wrong?
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