david tepper and the great shell game: diving for dollars, billionaire edition

Its too easy and unworthy of a businessman to simply pay for something, say a practice facility for a sports team.  Nay, not only does the city have to pay for his stadium, but the practice combine goes at a premium, too.  The multipronged approach is to let the city attach an annual economic activity figure, to give it a recognized value to elected officials, but then form a dummy construction project, and allow that to go bankrupt early.

Then the city gets to foot the bill, one more time.  It seems like corporate welfare, the usual business tax breaks, where the corporation is given a sweetheart deal in the hopes of recouping tax revenue from the workers.  I mean god forbid the rich have to pay anything.

See also the charlotte fc soccer club, putting the city on the hook initially to the tune of 500 milion dollars in the name of future revenue generating "economic activity".  Of course, come time for a new stadium, expect another exhorbitant investment by the city, and even as city residents cant pay the rents on their 5 room hovels.

Closer to home, a real estate guy in charge, putting the usual vacant real estate to city use.  He had a million dollar corner lot decades back, eventually becomes a huge hotel.  Sure.  He gets his on the property tab for his private company, and possibly the city budget kicks in to pay in part for a private company's construction bill, and in the name of future "economic activity".

To sum that up, the mayor had privately speculated in direlict properties and attached a million dollar price tag.  City on the hook for partial construction.

Prove me wrong, mayor ingram?