Speculation On Taxpayer’s Backs – Government In Private Sector (Bountiful)

Not long ago, I noted some potential progress on Bountiful, finally, questioning if it was wise for government to intrude in the private sector.  So much for the hoped for progress:  Bountiful RDA OK’s $400,000 Loan For New Fitness Facility

A “business enhancement” loan was OK’d recently for Skills Fitness, 1525 N. Main, on the ground floor of the Village at Main.

It’s to be paid back in monthly payments over 10 years at a 3 percent interest rate.

RDA board members Fred Moss and Scott Myers expressed some concerns, but voted with other members for the project. No action was taken when the issue was first discussed in a January meeting.

As I noted in the aforementioned post:

I strongly disagree with RDAs.  They are typically are abused (see the Kilo case) and just another form of corporate welfare funded by taxpayers.  Further, the tax increment financing used in RDAs smacks of commercial real estate speculation to me…with taxpayers assuming the risk.

So, the city has decided to risk tax money on a venture that should remain in the private sector.  I hope that those fed up with Federal government intrusion provide the same amount of scrutiny at local government intrusion into markets.

Ironically, the manager of this gym found himself out of a job because of another one of Bountiful’s intrusions into the private market.

Ending on the positive.  An entrepeneur in Saint George shows Bountiful City that recreation projects are not the domain of government (Ice rink gets St. George residents into the chill):

The Dixie Igloo Ice Centre opened its doors the Monday after Christmas and has provided a slick recreation opportunity for residents of the southern Utah city rimmed with a redrock desert…

Now it’s so popular, especially since the recently-concluded Winter Olympics, that the company supplying its hot chocolate became suspicious about the quantity it ordered…

England began toying with the idea of a St. George ice rink in 2003 and teamed up with local investors to open it on land leased from the Washington County School District and the city. His goal is build a permanent structure…

All that without having to saddle local taxpayers with a $18.8 million debt for a special interest project (despite having a potentially huge slush fund).

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s