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Hornet's Nest lease math 'does not add up'to the editor,
Posted September 19, 2012
Regarding the Hornet's Nest lease, deputy mayor Rick Milne is quoted saying, "I thought it was a good deal... we made $150,000 in the last five years on this. We didn't lose money."
Correct me If I am wrong, but spending $750,000 in lease-hold improvements to "make $150,000" in 5 years, does not add up.
And that's not even taking into account the interest to service the $750,000 or the fact the condition of the lease-hold improvements by the time they are paid off will most likely be worthless.