Letter: Unchecked debt
Published 12:15 am Friday, October 4, 2024
Together, let’s vote “no” on ballot Measure 4-234, the proposed $12-million luxury tourist facility. The city’s three projects, totaling $33.6 million, is excessive for our small village. The 30-year debt, combined with interest, is approximately $60 million.
The unchecked debt poses a significant risk to our town and future generations that will inherit this burden. In the event of an economic downturn, and decline of tourism dollars, the city’s plan to issue a full faith and credit bond may obligate our citizens to repay the debt.
The significant lack of parking and the site’s location in a tsunami zone is a serious concern. This oversized, expensive structure, with no parking, does not align with the character and sense of place of Cannon Beach.
Let’s explore more affordable and fiscally responsible options for the former Cannon Beach grade school. One that better suits our community’s needs and budget (less cost, smaller scale), one that fits the charm and character of Cannon Beach.
LISA NOFIELD
Cannon Beach