One needs only to look at Beaverton and their money pit, as an example of government trying to “play developer” with zero experience on the part of the city personnel, and all 100% tax payer money. Then if looking at Beaverton is not enough—look at the Federal Government trying to play “economist”—those folks have never (generally) signed the “front of a paycheck” (as a business owner/manager/ using their own money for payroll). They just are out of their league in every case, because they don’t know what the hell they are doing.

If the private sector thought this development was a great opportunity, they would have done it—when the government decides to play developer—it is a guaranteed loser.