By KATY BURNS
beautification of Main Street simply is....not....Not...NOT...... a government job it is a private industry job and Steve Duprey's work is proof that the private sector left alone will do great things
Not a government job? That explains the proliferation of companies like "Roads R Us" and "Sidewalks 2Go".
who paid for the sidewalks in front of Duprey's new buildings?
Steve Duprey has received a generous tax abatement on his Smile building. Using RSA 79:A, he is able to aviod paying property taxes for 5 years on a building that is valued at about $10 million. He does pay property taxes on the value of the old Sanel building that was there before the project started, but he does not pay any taxes on the value of the new buiding.
He also was able to cut a deal with the city that has him leasing parking spaces at below the cost of the spaces to the city.
Steve has done nothing wrong and is a savvy businessman, but to state that he received no assistance through the use of special tax incentives is just plain wrong. At the onset of the project Steve stated he would net about $125,000, after his expenses, just from the tax abatement.
The idea that tax incentives are wrong is not wise. Think about it. If there is no tax incentive say for Verizon to build an arena and bring jobs, taxes etc, to Manchester, why would they build it?
Plus we forget what wealthy investors do pay in taxes. My guess is that Duprey pays a lot of taxes, investments are about making a return on your investment. If you make no return than nobody invests.
The problem with tax incentives is that nobody actaully knows if they benefit the community or only the developer. On the surface it looks like a good idea to offer incentive in areas of a community that are blighted or the costs to develop exceed usual and customary development costs due to contamination, etc. I am not philosophically opposed to tax incentives, public / private partnerships, revolving loan funds and matching grants with a dollar cap. However, there is mounting evidence that many tax abatement and incentive programs only benefit the
developer. If tax incentives are to be offered, far more information is needed to determine if in fact the community will benefit in the long term. The NY Times' Louise Story did an excellent piece on this. http://www.nytimes.com/2012/12/02/us/how-local-taxpayers-bankroll-corporations.html?pagewanted=all&_r=0
Care to state how much it cost Duprey to rebuild the infrastructure and sidewalks as part of his project
I also have lived here for quite a long time. I have seen many businesses come and go.
What has not changed is the fantastic service that small business provides. One on one service, and always going the extra mile.
The idea that pretty streets and benches will atrract customers, is a fallacy. Services attract customers at a decent price. That goes against the idea of boutique shops which rely on small inventories, and higher prices.
It is simple.Incomes decide what businesses prevail. We are not Concord MA, or Portsmouth. Those places have high incomes and are supported by other things like colleges, location to ocean, etc. And most of all, high incomes.
Just the way I see it.
I think Katy missed the point of the "anonymous cyberspace snipers". The city of Concord should do whatever it feels it needs to do to attract people to the downtown. But shouldn't Concord be responsible for maintaining basic municipal services like water and sewer and not let them fall into neglected 100 year old time bombs? The above earth redo seems like more of a want than a need. In fact, it IS a want, not a need. Shouldn't these TIGER grants focus on the needs first??
$8 million for a street beautification and .....$zero....$Zero.....$ZERO...... for the homeless - way to go democrats
You must be registered to comment on stories. Click here to register.
ConMonitorSport: High schools: Offense is Tideâs best defense in 5-0 field hockey win | Concord Monito(link)1G
A number of years ago I had a drink with an old friend. We’d first met as very young reporters and hit it off immediately, sharing a fascination …
So Scott Brown – the erstwhile Massachusetts senator who recently took it into his head that the scenery in New Hampshire is so much more attractive than that …
Republicans have lately been stewing about their problem with the ladies. That is, the fact that they really, really aren’t popular with women. Look at the results of …