Letter: Private sector would do arts campus if it were a good idea

Arts campus proponents claim negative press about their project is unfair. They object to objections.

Initial campus funding would come from a proposed increase in the sales tax. Supporters say it will attract more tourists and sell houses to boomers.

An arts campus is grand so long as taxes aren’t footing the bills. If it is a viable financial proposition, backers should privately finance, operate and maintain it. That there is no private entrepreneur fighting to own it tells you it is not good business.

The town or county should not finance a business the private sector doesn’t want to take on.

Supporters need a business plan of best-, base- and worst-case scenarios, like a private company produces. If the plan demonstrates a profitable business, then supporters can obtain private financing. If it is not profitable, why build it?

The project benefits island, not county, business interests, and fans of Tony Bennett and Yo-Yo Ma. Backers argue tourists will pay sales taxes. County residents will pay the lion’s share.

Backers call this a public-private partnership, which means that the public pays and the private profits.

Backers want $6 million now, another $60 million or so later. Perhaps that will come from Tax Increment Financing, which redirects property taxes from our school district, which itself seeks another sales tax increase.

Backers made a PR blunder in naming Honey Horn as a possible campus site. They’re also making a financing blunder.

Let’s have an arts campus. Let’s fund it privately and site it where it makes sense.

This story was originally published May 26, 2016 at 4:19 PM with the headline "Letter: Private sector would do arts campus if it were a good idea."