Flawed reasoning on development

Iam responding to the ridiculous op-ed piece, “The numbers don’t add up.” Either one of these scenarios are true:

The author assumes that the reader is an idiot. Or, possible she thinks that the owner of Sandy Hook Partners is an idiot. Or maybe she is an idiot. Perhaps all three are true. Her calculations and her argument are so flawed that I had to reply.

One does not have to be a financial genius to figure out that a builder does not borrow $80 million up front, in one lump sum, to renovate a few buildings. Her calculations and assumptions are patently absurd.

It is obvious that the author has an agenda and is not going to let a little bit of common sense get in the way.

I suggest that the author stick to counting fish and stay away from complicated financing arrangements.

Jim Fitzmaurice