Today the Downtown Debt Plaza Foundation launched a new PR campaign called Elevate the 10.
We believe “Elevate the Debt” is a more appropriate name for their project to promote the construction of a 6.5-acre concrete slab over Interstate 10.
Their webpage claims that “in addition to becoming a new destination for all El Pasoans, attracting over 1 million visitors a year from across El Paso and beyond, the [Debt] Plaza will generate $1 billion in economic activity, create new jobs, expand opportunities for local businesses, support affordable housing development, and ensure environmental and health benefits.”
They left out that it will end hunger, lower global temperatures, and cure herpes!
We took their claims and ran them through our patented Bullshitometer, which registered more bullshit than was produced by all the steers in Texas since the Battle of the Alamo.
Elsewhere in the “Elevate the Debt” webpage, we read about “$74.15 million in funding commitments,” including a commitment to raise $35 million in “private philanthropy” to support park amenities (but apparently not the structure itself).
Meanwhile, $60 million in grants have been denied and no one is telling us who will pay for the $18,932,000 shortfall for the “future proofing” phase and the $412 million cost of construction (which the City and County still insist is only $207 million).
We can see where this is going.
Our local governments will commit just enough public dollars to insist that they are in too deep to desist and must close the massive shortfall by issuing hundreds of millions in bond debt and burdening the taxpayers for decades.
At least the Republicans are not fooled. In the recent election, 15,241 of them (64.6%) cast their ballots in favor of Proposition 1: “We the Republican Voters and Taxpayers of El Paso City and County oppose the spending or commitment of tax dollars for the promotion, design, or construction of the proposed Deck Plaza over the downtown portion of Interstate I-10.”
Amen.