Love getting your local community news? Please consider supporting us with a monetary contribution through our Voluntary Pay Program.

Click here for more information
Menu

May 21, 2019  |  

×
Contact
Your Neighbors. Your News.

My Account

To make updates to your Zip06 account or requets changes to your newspaper delivery, please choose an option below.

Welcome to Zip06.com!

If you have an account, please login! If you don't have an account, you can create one.

Login

Sign-Up!

A Zip06 account will allow you to post to the online calendar, contribute to News From You, and interact with the Zip06 community. It's free to sign-up!

Click here to get started!

Register for Zip06

We're happy you've decided to join the Zip06 community. Please fill out this short registration form to begin sharing content with your neighbors.

You must enter your first name.
You must enter your last name.
You must enter a username
You must enter a valid email address
Show password
You must enter a valid zip code

Submit to Zip06

Forget Your Password?

We can help! Enter the email address registered to your account below to have your password emailed to you.

Submit an Announcement

Who Needs It More?

Published Jan. 16, 2019

Email This Story

Fill out the form below to email this story to a friend

×

Mayor Joseph Maturo, Jr’s press release “S&P Reaffirm’s East Haven’s ‘A+’ Credit Rating” published Dec. 27 touting the Standard & Poor’s A-plus rating was clearly intended to whitewash the $1.4 million tax credit his administration gave to Winn Development, the company that will rehabilitate the old high school building and which, according to its website, “owns or manages real estate holdings valued at approximately $14 billion.”

As there’s no such thing as “free lunch,” we the taxpayers will ultimately shoulder the burden of making up for that revenue loss, which beggars a very sensible and relevant question specifically: What tangible economic benefit should our community expect to receive, in exchange for that sum?

I ask the question mindful of the various studies regarding the tax credit subject, which conclude that handing out tax breaks to businesses, most particularly to billion-dollar corporations, is worse than useless.

And then there is this matter of the law of diminishing marginal utility, which, in simplified terms, would be analogous to the commonly held belief that those who have more money, value it less than those who have little, which brings us back to Winn Development and the $1.4 million tax-credit.

Who could use that money more? The Town of East Haven or Winn Development?

From personal observations, there are infrastructures that could use serious improvement or maybe even a bigger pay increase for our town employees if nothing else.

But let us give credit where credit is due and in that regard praise our Finance Director Paul Rizza for the very fine job he is doing for us.

Oni Sioson
East Haven

Love Local News?

Get it Delivered Right to Your Inbox!

Sign-Up for Weekly Newsletters!