Demaio Questions CCDC Assumptions
A new financial analysis suggests redeveloping San Diegos City Hall would not save millions of dollars. The citys downtown development corporation, CCDC, had suggested it would save $60 million o
A new financial analysis suggests redeveloping San Diego’s City Hall would not save millions of dollars. The city’s downtown development corporation, CCDC, had suggested it would save $60 million dollars over 15 years. KPBS reporter Alison St John has more.
San Diego city councilman elect, Carl Demaio, went over CCDC’s analysis of the cost of building a brand new city hall, versus staying in the existing aging facilities.
He says San Diegans need to question the assumptions underlying CCDC’s conclusion that it would save money to redevelop the Civic Center.
Demaio : and it's important for them to understand there is no current proposal on the table that the city is proposing that will save money on office space.
Demaio says his analysis shows the city would spend $7 million more in operating costs over the first ten years, if the plan by the developer, Gerding Edlin, goes through.
Plus, much of the savings calculated in the CCDC analysis are based on the sale of blocks of valuable, city -owned land to the developer.
Further city council discussion of the project wont happen until next year.
Alison St John, KPBS news.