Dear Editor,
First of all, Hammes Co. of Madison, WI, operating as Landmark LLC, is both conducting the feasibility studies and would also be the developer. Second, over $500,000 of taxpayer funds, consisting of city funds and related local partnership tax increment funds, have gone into this “study.” They are now using these same taxpayer funds to lobby our State Legislature, local officials, and the public, on why we should spend even more monies on their $2.5 billion business venture called One Big Sky District (OBSD). Is this not a conflict of interests?
Heywood Sanders, Ph.D., in his exhaustive book ‘Convention Center Follies’, describes how convention centers are promoted, but fail to deliver on the promised benefits, contradicting claims that they will contribute to urban economic development. He does systematic analyses of their forecasts and promises and how they have been manipulated and proven false. Instead, “only a tiny handful of convention centers in the U.S. actually make an operating profit.” And “some lose humongous amounts of money”.
Here are some questions which need to be answered before this project goes forward:
1. Will taxpayers be responsible for solving the possible logistical nightmare, and exponentially increased crowding and congestion to the downtown area when this large complex is put in?
2. Will taxpayers be responsible for reimbursing the businesses that will need to be shut down and displaced in order to accommodate this large complex?
3. Will taxpayers be responsible for the increased public safety needs?
4. Will taxpayers be responsible for the increased load and stress on our water/sewer and garbage systems?
5. If OBSD fails, will taxpayers be left holding the bag?
Our County Commissioners have told us that taxpayers are currently subsidizing MetraPark and that a new convention center such as OBSD would compete directly with this venue. Will taxpayers now be required to fund and subsidize both MetraPark and OBSD, and by extension downtown businesses?
Public-private partnerships are based on a Fascist Economic Model. It is a “capture” of public funds and assets to leverage financial gains for private investors and corporations. It is also a predatory and parasitic business model to gain advantage over other businesses and developers.
Our national economy has been slowing and we are now at Global Peak Debt. The IMF(International Monetary Fund) is warning that another global recession is looming by 2020, and that governments and financial institutions are not properly prepared.
It would therefore be prudent to identify and limit risky and questionable multi-billion-dollar ventures that are NOT based on sound economic principles and NOT based on sound business practices.
Please contact your state and local representatives to let them know that a new downtown convention center complex such as OBSD, based on the evidence, is way too risky, too dangerous, and will be an unnecessary burden for our city and its residents.
Mae Woo
Billings, MT
