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mlk 
Member since Nov 30, 2012

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Re: “N&O: Dix deal emerging, Council of State to consider on Tuesday”

I'm torn on the issue myself, but by any reasonable calculation that deal is for far, far less than the $35 million that even the city thinks it's worth. It's all about the discount rate, which is in turn all about the state's cost of capital. The 12-month average interest rate on state 20-year general obligation bonds is 3.87%. If you used that as the discount rate, the deal is worth $17.3 million, or just half of the appraised value.

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Posted by mlk on 11/30/2012 at 5:46 PM

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