To the editor:

This is about the Eldridge Hotel’s 95 percent, 15-year tax abatement. First, I would like to respond to Jeremy Farmer’s statement, “It is crazy to me how the community, in a sense, vilifies people who want to spend money here.” (Journal-World, Feb. 18)

I don’t care how people spend money here. I just don’t like them spending my money in the form of tax abatements. Taxpayers have to make up that shortfall.

I would also like to respond to the statement that without incentives, the $12.5 million expansion would only produce 0.02 percent rate of return over 15 years, likely making it infeasible. With incentives, it still only produces a 1.1 percent rate of return, the city estimates. (J-W, Feb. 15) Does anybody really believe one would invest $12.5 million for a 1.1 percent rate of return? Capitol Federal’s eight-year CD rate as of Feb. 17 was 2 percent. That is a no-risk return.

Or if one wanted a really high return, they could do this: Gov. Brownback’s camp anticipates selling $1.5 billion in pension obligation bonds for 5 percent or less, and collecting pension return funds of 8 percent. (J-W, Feb. 10) Caution: This investment may be slightly riskier

Please don’t spend my tax money to further your business interests. Please don’t spend my tax money to reduce your taxes.