Following are two front page stories from the Arizona Star & the Arinona Republic concerning yesterday's ruling by the Az Supreme Court on the CityNorth subsidy of $97.4 million.
From the Az Star---
Now that the town has a reasonable commercial base,Mayor Loomis said any
new agreements "will be looked at even more carefully than in the past."
Too bad Loomis and the then OV Council didn't look more carefully in 2004. We wouldn't have gotten stuck with these one sided deals, especially Vestar, and that Marketplace anchored by Walmart.
From the Az Republic---
Former Phoenix Councilman Greg Stanton said the ruling showed that the benefits of the project did not outweigh the costs for taxpayers. "The Supreme Court decision made it clear that it was a bad deal for the people of Phoenix," he said.
Our comment--- We couldn't agree more with Mr. Stanton.
Here's The Az Star article
Here's The Az Republic article