Parking Decks, Debt, & Trap Doors
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3 responses to “Parking Decks, Debt, & Trap Doors”
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Virginia is toothless with respect to citizens being able to truly hold their elected governance accountable. No real “recall” ability and no citizen-initiated referenda. We make fun of California but they have both and it does work.
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Does the $22,000 per parking space include the increased costs projected for the time frame when the parking deck will be built. Assuming that it will be on more than one level, new standards to accommodate the heavier weight of EV’s will presumably drive costs significantly upward. Multi-deck parking garages have a projected lifespan of 30-50 years, so they must be engineered to support the projected load. Although it is doubtful that EV’s will ever replace all internal combustion engine cars in the next 30 years, that is the goal of our current governments, so it must be planned for.
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Something I don’t understand. The Development Authority will pay for this by issuing bonds. What happens if no one buys the bonds, or, if enough do not sell?
I assume the bonds will be placed with a big bank or a group of investors who do deals like this. Understanding of how this stuff works is way beyond my financial knowledge.
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