Here we go again.
We have the Main Street restaurant and pink house. We have the properties on Deyer Drive. Now the Sussex Village Board so the village can have more property for development? It's time, no, it's past time to say ENOUGH!
Just take a look around the village. We have office space available. We have light industrial space available. We have several buildings in the business parks available. that has been foreclosed on available. We even have lots in the Sussex Corporate Center that have never beeen built on. Yet they want to spend $7.1 million for more property? ENOUGH!
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The economy is growing at an anemic rate of 2%. Nationally, unemployment is over 8%. Consumer spending and confidence are once again declining. Yet they want to spend $7.1 million for more property? ENOUGH!
The village financial consultant forecasts the village will gain $7.3 million in tax revenue over a 20 year period with this purchase. Even if you accept that forecast, the numbers don't work. If anyone in the world of business proposed a plan to spen $7.1 million to get back $7.3 million over 20 years they would be lucky to keep their job.
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Spending $4.14 million for public improvements is questionable at best. Spending $2.7 million to purchase the property is totally ridiculous. If it is such a great deal let MLG spend their money and reap all the rewards. It is not the place of government to take risks of this nature.
Our neighbors in Menomonee Falls are now learning this lesson the hard way. They are on the hook for more than $17 million with . They are involved with multiple lawsuits from this fiasco that will only drive the costs higher.
Let's learn from their mistake and not have to learn frm our own.
