Meanwhile, the city is watching its dream of an arena, uh... "events center" exit stage left. So the city council in a 7-1 vote with Councilor Lewis objecting and Councilor Winter recusing himself, resolved to urge the mayor to try and negotiate a deal with APS to allow the two governmental entities to share the site (ABQ Journal - Subscription).
The real question is what are either of these two taxpayer paid for entities doing spending our tax dollars on a school for the performing arts or an "events center?" Both the city and APS are in the middle of what can only be called a serious budget crisis. Layoffs and cuts are rampant at both but don't worry, you'll have an "events center" or a magnate school to go to even if you can't afford the tickets or pencils.
[Sidebar]The problem is that money for capital projects like this purchase come from the sale of bonds. They're essentially loans supported by taxes. Sometimes money will come from various federal programs like the spending package euphemistically known as ARRA - The "American Reinvestment and Recovery Act." But in the final analysis all of the money comes from us.
Notice how the unpopular arena has become an "events center?" Like global warming - now climate change - the arena has become increasingly unpopular with the public. So we'll build an "events center" not an "arena" - a distinction without a difference. Or more like a boondoggle by any other name still stinks the same.
More importantly, the completion of these monuments to entertainment will require operational money that comes from already depleted general funds. Remember, both APS and the city are cutting salaries and laying off personnel.
In short, there are a number of very compelling reasons not to build either project. The school board looks like it's got $617 MILLION burning a hole in its pocket courtesy of a tiny tilted turnout. The city doesn't have the $400 MILLION it wants for an arena, but if or when it does you'll be the one paying for it.
This isn't about economic development and it's not about education. It's about spending every dime provided by taxpayers regardless of the long-term consequences. By the way, today - June 30th - is the last day you'll be paying 6.625% on purchases. Tomorrow you'll be paying 7% in Albuquerque - sending even more of your tax dollars to "work" so that bureaucrats and politicians can play.