An Open Letter to Tom Henry
Dear Mayor Henry:
In 2009, Fort Wayne will recieve a windfall of $40 million from the City Light Lease fund. As promised in your campaign, the public will be consulted. I ask that you don’t spend a dime of that money.
Let’s say we spend that money on another huge project all at once, if that project flops we’re out the money and the reserve that could have been hundreds of millions in the future.
If invested at a conservative rate of 8% (not even close to the markets average of 12%), that money will generate a return of over $3,000,000 - so lets be conservative and use half of that to provide city services. We’ll add money to the pot and Fort …
Tags: City Light Lease Fund, finance, financial, fort wayne, IRS, money, spending, Tom Henry
