The city should not take on a $20 million debt for borrowing $10 million for improvements to the La Laguna campground (or any sum for that matter).The city has no business running a campground (or a restaurant, hotel, supermarket etc.). If no private investors are interested to pay for improvements to the La Laguna campground, that means it's a bad idea? The city says the La Laguna improvements will pay for itself and will bring businesses. The Diamond Stadium was also going to pay for itself and was also going to bring businesses. 23 years later, the city is still $12 million in debt for the stdium and is still paying $500,000 out of the city fund to patch the financial hole of the Diamond Stadium. No businesses. Did the council members learn anything? I am documenting the lake (boats), the boat launch and campground occupancy. There is no way the La Laguna campground will pay for itself. The worst case scenario according to the staff report is 40% YEARLY AVERAGE occupancy. The occupancy of the La Laguna boat launch and the campground were UNDER 40% occupancy during the busiest weekend of the year, the weekend of 2, 3 and 4 July. The city will pay back $640,000 each year out of the city fund over 31 years (totalling $19,840,000). The city cannot guarantee the lake will not dry up and/or there will not be a new recession in the next 31 years. It is a certainty that the income of La Laguna will not cover the yearly payments for the loan. The city will have no choice but to cut in police and fire services and city maintenance. Lower security and bad maintenance will further lower home values. No residents will use the campground. Putting $14 million in a campground in a run down area infested by meth shooting homeless drug addicts is putting lipstick on a pig. You might as well flush the money down the toilet. Why is it that the council members are willing to follow you (Grant Yates) in a high risk venture that has FAIL written all over it, putting the importance (priority) of improvements to the La Laguna campground ABOVE the security of the residents and ABOVE their home values?
More on this + images documenting the campground occupancy:
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