Whole Foods no longer a rumor

[Fnemecek]

If it takes $4.2 million to bring 75 jobs to Detroit then, yes, walked away from the deal and concentrated on other - far more important - matters.

As for starting another group, if anything if would DetroitRealism - but I digress.

[agrahlma]

If it take $4.2 million to bring 75 jobs to Detroit then, yes, walked away from the deal and concentrated on other - far more important - matters.

As for starting another group, if anything if would DetroitRealism - but I digress.

OK - I'll flinch -- such as? Remember $1.2 of it is a tax credit, $1.5 is from the State. That leaves you with $1.5 local and community funds to play with [[I'll even allow you to assume you get all of the $1.5). Maybe you could build a school with that, but you won't have the kids to fill it. You could pay 15 cops [[full loaded with benefits for one year). You could knock down a few buildings. Ok – help me out here??

[Huggybear]

OK - I'll flinch -- such as? Remember $1.2 of it is a tax credit, $1.5 is from the State. That leaves you with $1.5 local and community funds to play with [[I'll even allow you to assume you get all of the $1.5). Maybe you could build a school with that, but you won't have the kids to fill it. You could pay 15 cops [[full loaded with benefits for one year). You could knock down a few buildings. Ok – help me out here??

Agrahlma:

You actually beat me to it - sorry for the duplicative post.

In addition to the question of what you would spend the money on, Frank harbors a belief that there is nothing such as restricted funding. If memory serves, he argued that restricted demo funding for certain buildings should have been diverted to rehabilitating or mothballing them [[or others). BUT:

Government money [[if it is a cash equivalent) is often restricted either by the source [[or by budgeting). If it's a tax credit, it's not cash at all, and it's only available if a development condition is met.

If there is foundation money involved in a deal, you can bet that it is restricted. Foundations require specific proposals and then require accounting of funds.

And in either event, violating the terms of restricted funding puts you out of business with funders.

HB

[agrahlma]

Agrahlma:

You actually beat me to it - sorry for the duplicative post.

In addition to the question of what you would spend the money on, Frank harbors a belief that there is nothing such as restricted funding. If memory serves, he argued that restricted demo funding for certain buildings should have been diverted to rehabilitating or mothballing them [[or others). BUT:

Government money [[if it is a cash equivalent) is often restricted either by the source [[or by budgeting). If it's a tax credit, it's not cash at all, and it's only available if a development condition is met.

If there is foundation money involved in a deal, you can bet that it is restricted. Foundations require specific proposals and then require accounting of funds.

And in either event, violating the terms of restricted funding puts you out of business with funders.

HB

No problem - you did a much better job of explaining it than I did [[or ever could do).

[Huggybear]

According to Crain's, 2.7 million is coming from the Feds and the State. Unless you can show that it can be used for "far more important matters," [[i.e., is unrestricted cash) that part is just found money.

1.5 million is coming from local and community foundation funds [[whatever that means). You don't know what that means, and neither do I. It could mean 90% foundations, 10% city. Or the reverse. Or 100% city. But the bottom line is that 1.5 million caps your "worst case" from the standpoinbt of contribution by the city.

If it takes $4.2 million to bring 75 jobs to Detroit then, yes, walked away from the deal and concentrated on other - far more important - matters.

As for starting another group, if anything if would DetroitRealism - but I digress.