Desperate to Wrong a Right
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.
Of course, providing such subsidies to newbies is eminently unfair to our existing hotels and motels, but as the ads on TV with the kids so poignantly points out, we can forget our old businesses in favour of some new ones.
Is it right and proper that we should venture still further into corporate socialism at public expense? Is it right and proper that we should favour the new to the neglect of the old at public expense? Come to the FPCOW meeting today (Nov. 21) at City Hall and hear our Council and Staff explain why this is a good deal for you and me and our existing hotels and motels. We had better act fast. Other communities may also have bribes on offer.
(a) Hotel/ Motel Revitalization Tax Exemption
Staff’s Recommendations: That Council:
1. consider “REVITALIZATION TAX EXEMPTION BYLAW 2011
NO. 7143″ in conjunction with the objectives and policies set out
in its financial plan;
2. direct Staff to modify the revenue objectives and policies to
include the new objectives stated in “REVITALIZATION TAX
EXEMPTION BYLAW 2011 NO. 7143″.