In any “public-private partnership” the municipal government’s role is to negotiate on behalf of the city’s residents and taxpayers to get the best possible deal. What the city expects to get out of the deal is increased job creation, and ultimately increased tax revenue as a result of a more prosperous citizenry, but too often the municipalities accept the projections offered by the developer and fail to do due diligence, thus ceding the negotiating power to the private developers of a project.
I strongly believe the municipal government needs independent evaluations of the economic projections put forward by the developers – no one buys a house by simply relying on the assurances of the seller, without getting an inspection done by their own inspector. This should happen in public-private partnerships as well. Newport has recently committed to a major investment in its public schools, so we need to maintain and improve our tax base.
We have to respect our assets and protect our taxpayers, and make sure the city is getting a good deal – a deal that enhances life for our residents.