One other thing I can't get out of my head is the silliness of using a NPV (net present value) calculation in the staff report to City Council. Whoever placed that language in the report was clearly attempting to distort the issue. NPV had absolutely no place in the subject discussion. It was used only to a) impress someone that they knew how to calculate one, or b) was deliberately trying to produce a lower number, or c) had no idea the calculation was totally useless in a downside risk evaluation. NPV is nearly always used to evaluate income stream.....not expenses. We would have no income stream on this property for approximately 17 years. If they were really showing off, they could have calculated an IRR (Internal Rate of Return). That doesn't work either, but it sure looks fine. There are really people around here that know about this "stuff." The gamble taken was that nobody did. That's how smart Rowlett "officialdom" thinks it's citizens are.
Try paying your ad valorem taxes with a NPV calculation. Google "net present value" and click on the EXCEL site. It will show you how to do it.