Wednesday, January 30, 2013

Wisner Fund

Interesting post by Dambala on this covering a lot of background on a nearly 100 year old land trust that is getting ready to expire.  At first glance there appear to be the following possibilites for the approximately $7 million fund.

1) The beneficiaries agree to continue dividing the money along a similar plan to what is outlined according to the current rules. This doesn't seem likely, and possibly not even desirable for a few reasons I'm not ready to get into yet.

2) The city takes a much larger share or possibly even all of the fund for itself.  I can imagine some upside to this but it would depend on a great many things that I'll need to understand better. 

3) All parties agree to sell it off for a one-time windfall.  This sounds very Mitch to me. And Dambala hints that it's definitely a thing that could happen.  Imagine the city is awarded the 2018 Super Bowl and Mitch spends his entire second term preparing for that by blowing this money installing parkettes up and down Poydras Street or three new streetcars that go from one end of the Convention Center to the other or something.

4) Legal chaos!!  Dambala doesn't think that sounds as fun as I do for some reason. 

Anyway, go read what he has over there and tell him or me what I'm not seeing yet.

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