Here’s a worrying headline out of Wilmington:
One year in, Wilmington’s Water Street project sees cost jump $7.6 million
This is a public-private partnership to revitalize part of Wilmington’s downtown and, a year in, the taxpayers find themselves on the hook for an additional $3.6 million, according to some reports. This is precisely why these sorts of developments are better left to private investors, rather than risking unknown amounts of taxpayer money for years to come.
