Quote:
Originally Posted by joey2665
You missed my previous post. I do not and never purchase residential rental property. I own a large commercial building there so I am NOT making your point.
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There could be a variety of reasons why your commercial building is successful, having nothing to do with the vibrancy and attractiveness of downtown. My dad owns several commercial properties, but rents to entities that have nothing to do with selling goods or attracting customers. I would invest in those as well.
My point is that I would not use my or taxpayer money to invest in an attraction, such as a hotel or the theater. In today's economy, jumpstarted by the tax cuts and removal of barriers to business, it is not surprising that downtown has had a modicum of success. Is it sustainable? The City of Laconia has made its decision, invest in Section 8 housing and drug rehab facilities to generate a population to fill the Section 8 housing units. Laconia should focus on making money from these endeavors and spare us taxpayers of the pipedream of making Laconia a go to destination.