MDC Agreements: Incentives? Or Clawbacks? Which is it?
Question: What is an "incentive" for a company other than an opportunity to reduce its risk in any given venture?
And if there is any sort of meaningful "clawback" provision contained in an agreement with the MDC, how can there then be reduced risk for the "incentee" company?
And doesn't it then follow that the only way a company can look at any agreement with the MDC that contains a "clawback" clause as an actual reduction of their risk is if that company believes that the clawback provision won't actually be enforced if push comes to shove?
I guess we are about to see how seriously the MDC and the City Council take these Clawback provisions that have been trumpeted as having been set in place to protect the taxpayer's interest.
Or if these companies have guessed correctly on how willing the MDC and the City Council are to actually enforce the contracts.
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5 Comments
Yes . I too believe that when the discussion of the "clawback" clauses was brought up , there were many winks and nudges .
Sorta like a political cartoon by Nast .
Here's an idea..use only consultants from out of town willing to throw 20 percent of the cost at any project suggested.
"reduce it's risk"
What does this mean? "It's" is the contraction for "it is" or "it has." reduce it is risk is gibberish.
The possessive form (intended by the author) is "its." Please save that apostrophe for later use, since it is sadly lacking from many possessive posts, signs, texts, etc. (The real reason for the shortage is the superfluous use of billions of apostrophes to pluralize words which do NOT need them--such as TV's, 1970's, vote's, etc.)
Duly noted.
The obvious answer is they do not care about enforcing the claw-back provisions. They are there to make the giveaway look like a reasonable deal to the populace.