Math doesn't work

Lamont

The recent Whitman county commissioners’ decision to borrow $15m instead of $9m for the Hawkins development doesn’t make economic sense.

According to the article in the Gazette, they are expecting total tax revenue to increase somewhere between $11m and $18m over 20 years-if the project is successful.

Let’s assume it is and I’ll keep the math minimal.

The County has to pay at least 1% interest to upwards of 5% interest on the borrowed money.

At 1%, that means $150,000 a year in interest payments alone or $3m over 20 years.

Total cost (Principal + Interest) is $18m.

At the 5% interest ra...