Ronald Reagan is famous for saying “Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.” This has been proven over and over again. I was reminded of the quote when I read that B'game Planning Commission is recommending a "Developer Fee" for new residential development. The DJ notes the amounts as
Under the proposal, rental developers seeking to build up to 50 units per acre would be required to pay $17 per square foot; those proposing up to 70 units per acre would be required to pay $20 per square foot; and those proposing more than 70 units per acre would be required to pay $30 per square foot. Condominium developers proposing 7 units or more would be required to pay $35 per square foot.
That last bit seems like a typo, but the point is adding some costs that could total $15 mil over the next five years for the 400-600 units that are in the "pipeline" may have the unintended consequence of slowing down development. If it does, I'm all for it, but that ain't what the initial goal is. What to do with $15 mil and where to do it is another political football. While we ponder that eventuality, here is another Reagan quote: "The nine most terrifying words in the English language are “I’m from the government, and I’m here to help.”
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