To the Editor:
I have been thinking about my Director of Development tour and the saloon keeper’s suggestion that Casella pay ½ his profits in lieu of taxes … that’s called PILOT (Payment In Lieu Of Taxes) taxation. Littleton just negotiated one with their largest (25%) taxpayer (Moore Dam) and Bethlehem already has White Mountain School ($6,000,000 exemption,$30,000 tax), NFI North ($4,000), Sr. Housing($6,000) and SPNHF($8,000).
A good idea that I rejected too quickly. Here’s the new DOD’s 1st negotiation: “Hi, you’re the new golf course guy … tell me about your plans.” GCG (golf course guy): Well, you guys sold about $300,000, spent about $300,000 … I think I can do better, say, $500,000 in, $250,000 out and I’ll be glad to give you ½, say $125,000 per year for the next 20 years, a $2.5 million deal. Furthermore, I suggest giving free golf to all Bethlehem residents so the monthly payment starting Jan 2, 2020 will be only $10,000.” DOD: “Sounds fair to me … Let me tell you what I did for the town.”
“I’m in the libation business and plan to sell about $1 million/year, spend about $500,000 and I agreed to give half to the town $250,000 per year and give all Bethlehem residents free beer service. Here’s a copy of my last month check for $20,000 … all the current businesses agreed to do the same and I’m having no problem selling new prospects on the same deal.
Bethlehem is a great town, we’re growing like crazy and we got rid of that “rapist” who was ruining our image.”
My new DOD has 2 down … 38 to go and he reminded me of another conversation … Good Friend (RR) hates Casella, but if he pays off Bethlehem’s remaining share of the Profile Bond, I can have his vote. I wasn’t quick enough to do the calculation: $54 million divided by 20=$2.7 million/year= $225,000/month X 7 to cover $1,584,000 pay off by July of 2020 when next payment due.
Bethlehem, New Hampshire