Wednesday, June 18, 2014

Austin Energy's latest $40 Million Swindle

"Dishonest scales are an abomination to the Lord,
But a just weight is His delight."
Proverbs 11:1

Are you kidding?!?
If you owned a business that needed more space, what choice would you make on this deal. Would you build a brand new building for $67 million, or would you buy a bigger building with plenty of parking right next door for less than half the price?

Well, guess what…Austin Energy not only wants to spend $67 million for the new building, but on June 12th they will ask the City Council for an additional $9 million to develop the PLANS for it! The bureaucracy is alive and well, but this time we can’t let them get away with it.

Brian Rodgers, who is well-known for exposing the commercial tax appraisal inequities several years ago, sent out an alert this morning on the Austin Energy building boondoggle. A broker friend of his advised him that the huge 48 acre campus formerly owned by AMD is available for sale for $25 million. The address is 5900 East Ben White. It is located just a few feet away from the spot where Austin Energy wants to build their boondoggle. The price tag for AE’s dream building comes in at $375 per square foot, which is higher than the going rate for many downtown buildings. There is also another building nearby that should be evaluated for cost.
Read the whole thing, including Austin Energy's nauseatingly arrogant response, here.

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