Downtown Mesa ASU Campus ISN’T free.

I’ll elaborate later but this is the quick summary

ASU wants the City to build them a Downtown Mesa Campus costing about $75 million, supposedly without a tax increase.

At the same time they want to raise the sales tax to fund public safety, even though the funds diverted to ASU is equal to about three years of the sales tax.

They say they will pay for the Campus from the Revenue Bonds and the Enterprise Fund, which gets most of it’s money from utility rates.

The city already has $1.7 billion in bonds, and $3.7 billion in liabilities against $4.0 billion in assets and a credit rating among the lowest among Valley cities.

Here is a good summary of comments when the Council decided to go ahead with the project, although we’ve been assured it’s only exploratory and not a done deal.

 

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