WPCNR MR. & MRS. & MS. WHITE PLAINS VOICE. February 1, 2006: Former Mayor of White Plains, Alfred Del Vecchio sends in this reaction to the school budget situation:
John,
It's hard to believe that the city and school systems should be in such dire financial straits with the city telling us that much more than $2 billion worth of "renaissance" construction has taken place in the last eight years. When one considers that only 1% of $2 billion is $20 million, one wonders why the city could not have collected at least 1% of the property value in taxes for the city coffers.
It used to be that the justification for commercial development within city limits was that it created wealth for a city with which to fund school programs, construction, and salaries. I remember that to encourage the $2 billion in "renaissance" construction the city even provided an incentive of $23 million up front as well as other inducements promising we would reap the investment ten fold and more. From my point of view, we are not better off now than we were eight years ago. I, for one, wish we had the $23 million back in the city coffers. That would have helped our school system.
Alfred Del Vecchio
