“People think we have too much” development, said Bob Yates, a council member. “We’re not Detroit.”
Though Yates, a former telecom executive, opposed the moratorium and worries it will make things difficult for businesses in the zone, he understands why people in Boulder, a liberal enclave, were skeptical of an idea enacted by a Republican Congress. He just wishes his city would take a more measured approach.
The zone includes an aging mall called Diagonal Plaza. The tax incentives could have spurred investors to redevelop it to include affordable housing, which is sorely needed, he said.
“Boulder’s teachers can’t live in Boulder,” he said. “It’s not a healthy thing to have socioeconomic divide where lower-income people have to live outside of town to serve higher-income people in town.”
This article was provided by Bloomberg News.