11-29-2016, 09:37 PM
(11-29-2016, 07:46 PM)Drake Wrote:(11-29-2016, 08:11 AM)ijmorlan Wrote: Another related question: are these businesses going to pay back a share of their future increased income resulting from increased traffic due to the LRT system? They didn’t build that…
Do you know if the businesses you are referring to own the buildings they are in, or just lease them? Those who are leasing, which I would expect is the majority, can expect elevated rents on their next lease renewal because of the increased valuation of the properties. That could be a double whammy for them.
No idea. I was just responding to the idea that businesses would seek to bill the Region for costs/reduced income resulting from the construction. If the Region does something (perhaps even the same thing) that causes later increased income, will they reimburse the Region? You raise a good point however — often the property owner is the ultimate beneficiary of improvements in the business. I’m not sure what can or should be done about that. I like the idea that a hardworking business owner should be able to reap the rewards but it’s not obvious to me what policies would give that result without having unintended adverse consequences.