Remember that one? You know: what's good for GM is good for America. Of course you don't because damn few of the Greatest Generation are still with us. And we've come a long way since those days and much the worse for it. Instead of societal and corporate patriotism we have been wallowing for decades trying to ignore the squeals of delight from greedy beneficiaries of the new-age policy of privatizing profits while socializing risk.
Dunwoody has taken it a to a whole 'nuther level handing out a $160,000 gift to benefit a local, profitable real estate development. And yes, it is a gift. How do we know? First this is what was said: the recipient of the loan 'would only be responsible for paying back the loan at the end of 2023 if the complex does not produce a provable “public benefit.”' Next is the fact that much important information was (willfully?) withheld. What exactly is the definition of "public benefit?" What metrics will be used and who will apply them and when will this be done? And just where the hell did the money being used, not to pick a winner or a loser, but to fund a new business operation come from? Is this from the slush fund created by skimming PILOT?
Here is the most likely outcome. Public benefit will be defined as "business success." Remember GM? And what this will mean is the money will NEVER be paid back because a "successful outcome" is exempted and an "unsuccessful outcome" will go bankrupt. Kind of like the integrity of this city.
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