In my opinion, and that of others I’ve spoken with, Isla Vista does not have enough income to support the services it receives now, much less the ones proposed by Das Williams.
I.V. cannot print money. It would have to have cash flow from taxes, assessments, and fees, or have to borrow by issuing bonds or get handouts from the rest of us, as it is now doing.
If you crank the numbers, I.V. will lose 13 percent of its existing property tax base because of UCSB’s recent purchases of the Tropicana and Fontainebleu apartments alone — or a loss of at least $1,300,00 per year in property taxes. In not too long a time the loss will surpass $2 million a year and go north from there. The I.V. service district will be in the red from day one.
As my beautiful wife, Donna, says: “If these plans succeed, I.V. will need an IV!”
Generally, the media and citizens in general do not know finance, so people in government can pull the wool over their eyes. The thousands of Williams types now in governments from D.C. to villages are the reason Donald Trump and Bernie Sanders are hitting nerves and gaining ground on both sides of the political spectrum.
With a declining property-tax base, Das, show me a projected taxes/assessments/fees income flow chart for I.V. vs. outflow for the civil services, by service, that Isla Vista would have to provide for just five years.
Show me the money, Mr. I.V.!