EDITOR: Poor Simon Properties. Because it's so inept and cash strapped, it needed redevelopment money from Santa Rosa to upgrade Coddingtown. Simon received this money at 3 percent interest. Let a local business try to get funds at 3 percent.
You could have almost swallowed it but barely. Check out the article buried in Friday's business section. Apparently Simon Properties is bidding for a stake in a Paris-based real estate company. Cost? Two billion dollars; that's right, $2 billion.
With the need for low-cost housing and other community based needs, this really takes the cake. I'm sure the city could have found deserving programs to give the money to. You have to wonder why Santa Rosa would rather give this money to a multi-million dollar company than do the right thing and simply send it back to the state coffers. At least then it would have paid down some of our insurmountable debt, which would have benefited every Californian.
Fool me once, shame on you; fool me twice, shame on me.