Phoenix is closing on the downtown Sheraton sale, remember that the real loss to taxpayers is $200 Million.
This is the final, sad chapter in an orgy of corporate welfare and insider dealing that has cost the citizens of Phoenix far more than anyone at City Hall will admit.
Inept staff who insisted on making this deal are saying the loss is $36 Million. Even using their numbers, anyone in the private sector who did a deal like this would get fired in a heartbeat for such a loss. Yet the politicians and city staff do it, and our public media watchdogs never hold them accountable.
How many cops could $200 million have added to our force?
How many miles of paving?
How many units of low-income housing?
Those are real things our citizens will never get because of this deal.