Friday, May 06, 2011

Fix now, collect later

Dear City of Pittsburgh potentates,

Before what is potentially the biggest private real estate transfer in the city happens, can somebody please fix the statutes surrounding the transfer tax so the city does not lose out again.  Sort of like what they did in Philadelphia.

If you work out the NPV of the potential revenue gains into the future, you may be talking more value than the entire parking lease.

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