Megamillionaire Rick Caruso wants an $18 million subsidy from cash strapped Santa Barbara County taxpayers otherwise the Miramar project may not get off the ground.
What if a non mega-millionaire homeowner threatened not to add a room or two to their home unless they received a 10-year property tax holiday? If the homeowner didn’t think it was possible to pay the additional taxes on a reassessed property then they’d have to sell to someone who could. Caruso should do the same. If the 10% transient-occupancy tax decreases the value of the Miramar property then he’ll have to discount the price for the new owner.
Caruso is a sharp businessman. He knows it’s a lot easier to pick the county’s pocket than make money the old-fashioned way. – Nick Tripodes, South Pasadena, CA
Thank you for the update on the “Miramar Hole.” Looks like Rick Caruso is a pretty busy guy tying to buy the L.A. Dodgers, considering running for mayor of L.A., and developing an investment on the Las Vegas Strip. Pretty busy, except for following through on his promise to our residents to rebuild the historic Miramar Hotel. Now, he’s asking for favoritism from the County of Santa Barbara’s Board of Supervisors at our expense. Personally, I find it difficult to take pity on this billionaire mogul and hope the Board of Supervisors does not acquiesce. – Phoebe Lenhart, Santa Barbara