Norfolk throwing money around

The editorial in the Virginian-Pilot Saturday discussed the $14 million given in incentives to Fort Norfolk LLC for a “commercial project of no particular importance or stature.” According to this article, the incentives consist of “land, valued at nearly $2.5 million, a grant of up to $6.8 million and, if the developer needs it, a loan of $4.59 million.“

This comes on the heels of the $22 million for Granby Tower announced last December. A story in today’s Pilot discussed the $7.5 million incentive offered to a billionaire to seal the deal on a Hilton Hotel.

See, when the city gives away $43.5 million it is a little hard to understand why the real estate rates remain so high. How can the city give away all this money, on the one hand, and resist efforts to reduce the real estate tax rate on the other? And if the projects are not viable without city help, maybe they shouldn’t be built?

I find it hard to defend, even if I understand the economic development nature of it. One of the biggest problems our city continues to have is a lack of communication. I’ve said it before and I’ll say it again: if those who represent us don’t share their vision for this city with those of us who pay the bills, it is impossible for us to buy into what appear to be unnecessary giveaways to rich folks on the backs of us. Oh, and this isn’t what I call “sharing the vision.”

I urge council to justify these giveaways. If they are unable or unwilling to do so, I urge Norfolk voters to keep this in mind come election day.