4 ms·
Something I don't get here. The normal model of RE development is you build stuff, you rent it out or sell it, you collect the rent or sale proceeds, hopefully
by smsm42 8y ago
Something I don't get here. The normal model of RE development is you build stuff, you rent it out or sell it, you collect the rent or sale proceeds, hopefully earn a lot, move on. The property taxes and fees go for developing public infrastructure - roads, schools, parks, etc. Now why Google would need to get part of property taxes? Are they going to build road and schools? Why?
I am not sure why there needs to be a model where private company collects taxes. They're building private light rail? Excellent, charge to ride it and recoup your costs. You're building timber factory? Excellent, factory should be financed by selling its output, not by collecting taxes. What am I missing? What is so special in this particular development that it requires Google to get part of the taxes?
- sonnyblarney 8y agoThey are going to build services and infrastructure beyond just what a contractor would do.
- smsm42 8y agoWhy? And how - aren't all services and infrastructure ultimately built by contractors? (except those that are built by Army Corps of Engineers).