"Gloucester has a real revenue crunch and I'm pulling in $400,000 from that project so unless somebody wants me to close another fire station or lay off more teachers, I need a stronger argument," said Kirk.
Kirk said the $2 million grant will help offset the tax concessions the city is expected to make when it enters into a Tax Increment Financing agreement, or TIF, with Park.
While the project is expected to generate $500,000 a year in property taxes, Park says he needs a total of $2.4 million in tax concessions to help offset project costs.
"We need the TIF to help bring down the land cost," said Park, who also said the assisted living facility may not be built if he doesn't receive the $2.4 million tax break.
So Sam Park gets almost $5 million in GRANTS and Gloucester might see $500,000 a year and maybe be able to sustain already limited services within a crumbling services. What a fuggin' bargainYou dumb fuckers!
