The city may have only had a minimal net gain based on fees collected but there were many other gains. For example, it appears that figure does not include any taxes collected on lodging or dining.
It also does not account for the revenue generated that helps pay taxes to the city. Our bike week rental almost generates enough revenue to pay our property taxes for the entire year.
As a weirs owner I'm all for some improvements to the area that will increase my property values and rentals but at the same time we bought there because we like the area and enjoy going to the arcades, drive-in, etc. and not spending a fortune to do so.
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