NIZ.. Getting Ahead Of Ourselves

Allentown hotel expects big boost from hockey arena development
Colin McEvoy | The Express-Times

"The Holiday Inn at 904 Hamilton St. is hoping to borrow $1.8 million in Neighborhood Improvement Zone tax money to renovate the hotel and establish a first-class restaurant at the building's ground level... the Holiday Inn has not been profitable and currently has a roughly 35 percent occupancy rate, which the owners hope will improve to the lower 60s after the arena opens."My Comments About The Article Above
Enough said. I think this kind of speaks for itself.

However there are a couple of things I want to add.
How many of each and everyone of you readers have ever stayed overnight for a entertainment or sporting event?

The other is the difference between socialism and the NIZ.
     With socialism, peoples' tax money is deferred and the government retains ownership.
     With the NIZ, peoples' tax money is deferred and certain private individuals retain ownership

What both have in common is us idiots who are forced to pay extra for the lost tax revenues from these projects. I fail to see why I, as a taxpayer, need to help fund commercial business ventures and their owners who's own investors aren't willing to accept these kinds of risks.