Ron Bolin: Nov. 20, 2011

It seems that current revenue objectives and policies set out in our financial plan do not permit tax exemptions to profit making corporations.  This makes sense to me, but to our Council, capitalism is a thing of the past and corporate socialism reigns.  Council recently gave three readings to “REVITALIZATION TAX EXEMPTION BYLAW 2011 NO. 7143” which, with a fourth reading (perhaps at the farewell old Council Nov.28 Council meeting and these policy changes in effect), will potentially give millions of dollars to private corporations if only they will build or substantially renovate a hotel or motel in Nanaimo.

The current situation where private companies and corporations are forced to compete for business is evidently eminently unfair to our conference centre and this situation calls out for Council action by way of still more subsidies to that too-big folly in the form of hotel tax exemptions. Read the rest of this entry »

Ron Bolin: Nov. 8, 2011

Last Monday evening, in what could only be viewed as a stealthy move as the agenda material was only available shortly before the meeting, Council gave three readings to REVITALIZATION TAX EXEMPTION BYLAW 2011 NO. 7143.  This bylaw has the potential to cost taxpayers millions of dollars in extra taxes to fill the void made by the proposed exemption(s).  Tax exemptions do not reduce the cost of operating the City; they merely relieve a chosen few from that burden.  This bylaw gives Staff the power to negotiate and Council the power to finally approve property tax exemptions for 10 years to any hotel or motel which spends $2 million dollars or more in either new construction or improvements to the quality of rooms in Nanaimo.   Naturally enough, it has already caused considerable dissent from our existing hotels and motels: imagine having to subsidize your competition.  Read the rest of this entry »