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Sales projections missed mark, worried about DC'sto the editor,
Posted September 13, 2012
So let me get this straight, New Tecumseth invested $750,000 in lease hold improvements to build the Hornet's Nest restaurant, then signed a contract for its operation that looks as if it would have taken more than 10 years of lease payments to pay back based on the original projected gross sales.
But as it turns out, the estimated sales revenues were so far off that in reality, even using the best year's rent paid to the Town to date, it will take over 17 years just to pay it off.
Is this the same town that is expecting and "projecting" development charges to finance the ever expanding debt loads being incurred to cover the cost of urban sprawl?