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Bridge closed for use by public
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The long and slow-going redevelopment of Quincy Center continues to plod along as well as to lesser square footage than long previously touted with two key outcomes.

In the case of this Quarry story, the $15 million or so Generals Bridge which next to no ones has been closed for use by the general public given adjacent construction projects. 

And for the other outcome, local taxpayers will continue to be subsidizing just short of $400 million in municipal debt service that funded on municipal infrastructure as well as covering much of the cost of increased local services provided within the special Quincy Center Redevelopment tax district. 

Per a presentation to the City Council roughly a year and a half years ago, the subsidy cost imposed upon local taxpayers so developers could score nice returns on their projects was projected to run roughly $25 million in the red over the next couple of decades or thereabouts.

“Follow the money.” ALWAYS follow the money
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In turn, so much for Quincy Mayor Thomas Koch long touting that new growth tax revenue from Quincy Center’s redevelopment would cover the nut.

Even worse, the quants on the Quincy Quarry News financial and other affairs desk suspect that the negative will likely end up running several to more than a handful of times further into the red give a proper cost accounting of all of costs and net of the tens of millions in tax breaks handed out by the Koch Maladministration to favored developers.

Developers who have typically as well as surely been coincidentally generous to Mayor Koch’s campaign fund.

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