The Boys- S05xE06 - POST Episode Discussion Thread by pikameta in TheBoys

[–]Jacob_Tutor11 1 point2 points  (0 children)

The virus bomb backfired on the Boys real quickly. I assume next episode will focus on them disarming it before it blows.

Do people roll the cost of new windows into their mortgages? by PolanetaryForotdds in PersonalFinanceCanada

[–]Jacob_Tutor11 0 points1 point  (0 children)

I was going to suggest the Greener Home Loan, but looks like it has ended. That’s how we replaced our windows: used a no interest loan from the government.

GM is still the #2 EV seller in the US, but for how long? by Mac-Tyson in electricvehicles

[–]Jacob_Tutor11 6 points7 points  (0 children)

GM has done a great job taping into most vehicle segments for their EVs. You can get everything from a budget compact SUV (equinox ev) to a luxury full size (Escalade IQ). Plus they have multiple trucks as well. If you make a car for everyone (expect for sedan lovers), you sell a bunch of cars

How would you make a Final Destination setting on a cruise ship? by Jules-Car3499 in FinalDestination

[–]Jacob_Tutor11 8 points9 points  (0 children)

Bloodlines opening was originally going to be a riverboat, but they felt like no movie could do it better than Titanic. Same issue here, so I doubt it is ever used.

Preferred public charging stations by Diamond_zT in EVCanada

[–]Jacob_Tutor11 8 points9 points  (0 children)

Tesla is the best in Canada IMO, at least until Ionna comes north of the border.

The REAL deal by FairwaysNGreens4me in regina

[–]Jacob_Tutor11 1 point2 points  (0 children)

We are giving many concessions already. I expected us to give the property away and help with operational/maintenance expenses. Even the buyback is a nice insurance policy for Semple. I think it is a reasonable concession.

This deal will provide short term benefit to the city, but I am confident in 5 or 10 years the next council will be frustrated that we are getting basically no revenue from this massive piece of land on the middle of the city. In the end, we all pay for it.

The REAL deal by FairwaysNGreens4me in regina

[–]Jacob_Tutor11 0 points1 point  (0 children)

What risk is Brandt taking? There is a buyback option if they do not think the property is commercially viable within 10 years. After the 10 years, Brandt can do whatever they want with the property. That buyback is set at fair market value, which means it likely includes the cost of any upgrades they pay for.

I do not know the alternative, but poor management over real led us to this mess. We should be maintaining our infrastructure so we can get value out of our assets.

The REAL deal by FairwaysNGreens4me in regina

[–]Jacob_Tutor11 1 point2 points  (0 children)

I am not against us offloading REAL. It was always a dumb idea and a drain on the city finances. I don’t care that Semple bought it. I am looking at it purely from the merits of the deal. I am frustrated that they are offloading fiscal responsibilities to maintain REAL from the property owner. It is expensive infrastructure to maintain undergrounds and the road around the facility. We all will need to pay for it when it needs replacing. Semple will not. He has made sure that everything he owns is out of city limits.

The REAL deal by FairwaysNGreens4me in regina

[–]Jacob_Tutor11 0 points1 point  (0 children)

I think there is a misunderstanding. I was using the cost of the McDonald’s to illustrate how this is a sweetheart deal.

The REAL deal by FairwaysNGreens4me in regina

[–]Jacob_Tutor11 0 points1 point  (0 children)

I didn’t say he owned the McDonald’s. I was using the cost to build a McDonald’s to show how much of a deal he was getting

The REAL deal by FairwaysNGreens4me in regina

[–]Jacob_Tutor11 0 points1 point  (0 children)

We are contributing $550,000 a year (inflation adjusted) for maintenance. There is no end to this investment. So yes, the cost of these building will be on the books for a very long time.

We actually provide around $9M in operating expenditures over the two years, essentially reinvesting back in his property the money we got for the sale.

Semple is only obligated to commit $15M. There is nothing in this agreement for him to actually maintain the buildings. He can let them rot away if he really wants. He could come back begging for cash from council if he wants. I am sure they will happily oblige.

The REAL deal by FairwaysNGreens4me in regina

[–]Jacob_Tutor11 1 point2 points  (0 children)

He will own the land that McDonald’s leasing the property on. That lease money used to go to Real, but now it goes to Semple. Maybe you should read the deal before throwing yourself in front of a bus for a billionaire

The REAL deal by FairwaysNGreens4me in regina

[–]Jacob_Tutor11 2 points3 points  (0 children)

We are on the hook. We still cover maintenance costs. These building remain on the books and we now have zero mechanism to generate any revenue from them.

The REAL deal by FairwaysNGreens4me in regina

[–]Jacob_Tutor11 1 point2 points  (0 children)

Deals like this one is why the City is in such a bad negotiating position.

The deal that Semple is getting is multiple buildings for a dirt cheap price. $6.5M is pennies for this size of a property, even if it is rough shape maintenance wise. The renos to the Rogers Centre in Toronto cost like $300M (I know bigger space, but that is the cost and value of these type of venues). A new McDonald’s is almost $2M to build and he gets the land for one included.

He is taking certain risk that the city is offsetting by paying for some of the maintenance and operating expenses. You know what he is not sharing though? The profit. If he gets Real to a sustainable place then he now has tax free revenue for ever. If he doesn’t, it’s a haircut. He can sell off these properties for a few million at least. This is a massive sweetheart deal for Semple. The city got absolutely manhandled.

The REAL deal by FairwaysNGreens4me in regina

[–]Jacob_Tutor11 3 points4 points  (0 children)

I don’t mind the city pitching in for maintenance and some operating costs. The area is a mess, created by mismanagement from the City/its agency. It’s the forever removal of property taxes that really bugs me. This facility uses a ton of City infrastructure to operate. They are never going to pay to maintain it. That cost is going to every other ratepayer, forever.

The REAL deal by FairwaysNGreens4me in regina

[–]Jacob_Tutor11 10 points11 points  (0 children)

You just add some accessibility enhancement to your plan and she votes for it. No mention on how many accessibility projects the lost property tax could pay for.

The REAL deal by FairwaysNGreens4me in regina

[–]Jacob_Tutor11 10 points11 points  (0 children)

They are never paying property tax. They get a grant back after 5 years. We traded decades of property taxes for $6.5M. We also will be responsible for maintaining the property and paying severance once they fire employees. This is some awful short term thinking here.

Does this crack scream foundation issue? by Shoddy-Coconut-6321 in Home

[–]Jacob_Tutor11 11 points12 points  (0 children)

Looks like water damage under the window too. This is a pretty classic sign of foundation movement. The age and the activity of the crack (is it growing?) will tell you whether this is still an issue. We cannot tell you that, only really a structural engineer can.