The key sentence to this letter is where it says:

"The USCF agreed, through various channels, including Mr. Sabine, the
Mayor, the Governor's Office, and Mrs. Alexander, to approve and
provide an approximate number of jobs, and, eventually, a significant
amount of tax revenue, to the City in exchange for the City's
conveyance of real property to the USCF along with, and not
insignificantly, an agreement to change the restrictive covenants of
the office park in which USCF is to locate, site preparation and
public utilities."

This is very surprising. First it is surprising that the USCF agreed
to provide jobs to the local residents. I thought that one reason for
the move was to reduce staff and to shift everybody that was needed
from New Windsor to Crossville.

More importantly, the deal included that the USCF would pay "a
significant amount of tax revenue to the City". How is that? The USCF
is a non-profit corporation that pays no taxes. Even were that to
change, the USCF has lost money eight years in a row and would have a
big tax loss carry-forward even were it to become profitable.

Somebody has a lot of explaining to do.

Sam Sloan

At 01:15 AM 8/15/2004 EDT, wrote:
In a message dated 8/15/04 1:11:07 AM Eastern Daylight Time,
writes:


More importantly, the deal included that the USCF would pay "a significant
amount of tax revenue to the City". How is that? The USCF is a non-profit
corporation that pays no taxes. Even were that to change, the USCF has lost
money eight years in a row and would have a big tax loss carry-forward even
were it to become profitable.



payroll tax, Sam.

ECJ

Payroll taxes are paid to the federal government, not to the city.

Real estate taxes are paid to the city. I wonder how much the tax bill
would be on the empty plot of land which was "given" to the USCF.

Now I understand why the USCF is trying to give back the land, without
success thus far, and why Crossville is refusing to take it back.

Sam Sloan

"Sam Sloan" wrote in message
m...

More importantly, the deal included that the USCF would pay "a
significant amount of tax revenue to the City". How is that? The USCF
is a non-profit corporation that pays no taxes.

Federal and state income taxes only. Real estate taxes and wage taxes are
not normally exempt.

"Sam Sloan" wrote in message
m...

Payroll taxes are paid to the federal government, not to the city.

Nonsense. I pay payroll taxes to my locality and to Philadelphia. I withhold
those taxes but the township gets taxes they wouldn't if I were in a
different locality.

Real estate taxes are paid to the city. I wonder how much the tax bill
would be on the empty plot of land which was "given" to the USCF.

Never having owned real property it is easy to see why you wouldn't
understand how it works. The couny gets @ 10%, The city @ 20%, and the
school district @ 70%. In Philadelphia the city funds the schools. The empty
plot of land has low taxes but factor in the tax loss from not developing
the land.

Now I understand why the USCF is trying to give back the land, without
success thus far, and why Crossville is refusing to take it back.

Easy Sam, I don't have my waders on.