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Sunday, April 29, 2012

Gaylord Entertainment: Sucking on the Government's Teat

I know, I know. I've cranked on about the giveaways that Gaylord Entertainment is lining up for their big DIA development. I often feel like I'm the only one.

I'm not.

Joel Judd gives it some perspective:

Gaylord will grab the property taxes a non-subsidized development would have paid to the School District -- $240 million over thirty years or $8 million per year.

If the legislature had the revenue, it could make up that $8 million to the schools. But it doesn't. Since the recession started in 2008, it has balanced the budget by cutting school funding every year. That's why we're now $1 billion under the level mandated by 2000's Amendment 23 and we've frozen funding from at $6 thousand per kid. Diverting another $8 million means all 178 districts suck it up and each of Colorado's 817,000 school kids kicks in $10 per year to subsidize Gaylord.

So this is the question you get to answer: Is Colorado better off using this money for the kids or giving it to Gaylord?
My bold. Cutting back on your kid's education to give a well-funded hotel chain a sweet deal? That's just stupid.

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