Redevelopment is Corporate Welfare

By Ken Mettler | 03/11/09 | 07:37 PM EDT | 0 Comments

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What recession?....not for one lucky developer.  The city of Bakersfield City Council (Politburo) is giving 1.5 acres of taxpayer owned property to a developer to build 57 subsidized apartments.

The best part is that the taxpayers will be giving a $2.7 million dollar loan to the developer interest free for 55 years.............wow, how many taxpaying homeowners have received their building lot for free and an interest free mortgage for 55 years.............sign me up! 

 

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