I have heard estimates as high as $3 to $4 billion dollars on this board as the total cost for City Creek Center. Yet even today, in an article in the SL Tribune, they referred to it as a $1.5 billion project. Why such a huge disparity in estimates, or is the $1.5 just what has been released so far, with higher estimates to follow?

http://www.sltrib.com/sltrib/lifestyle/50373016-80/creek-lake-salt-church.html.csp

As with all their accounting... no one will ever know.
Maybe Ensign Advisor's know but they ain't tellin. The lower number sounds
so much better to the full tithe paying member that it serves it purpose.
My favorite phrase from RFM was....

"There are two types of tithing...
Tithing and dividends from tithing."

Published: Wednesday, Nov. 4, 2009 12:00 a.m. MST

"City Creek Reserve is spending more than $1 million a day on construction, and the project ultimately will cost around $3 billion, said Chris Redgrave, a KSL executive who also chairs the Salt Lake Chamber's Can-Do Coalition, which is looking for ways to jump-start the downtown economy."

Reasons for the discrepancy:
1. Only $1.5 billion spent so far...
2. Original estimates were $1.5 billion
3. $3 billion looks embarrassing
4. They are lying again
5. All the above

...from the coffers of the 'one, true' corporation of Jesus Christ - The Fastest Growing Church on Earth™! - was virtually pocket change in the mind of the 'Prophet-Builder' Gordo Hinckster.

I shouldn't be surprised, but I am. That is very misleading.


I've always expected more from the Trib. No more.

What number gets reported depends on what is included in the definition by the person writing the article, and what costs are included/excluded.

This happens all the time. You buy a house for $400,000. With closing costs, $420,000. With interest over 30 years, $1,300,000. With costs to furnish and landscape, add $60,000. Then there are real estate taxes over 30 years, utilities, upkeep, replacement of water heaters, furnaces, roofs, etc, savings on rent, decreasing the cost, opportunity costs of not having the cash to invest in other things. So, what should get reported as the actual cost of the house?

Meanwhile, the person who sold it got $400,000. Minus real estate commission. Minus other closing costs. Minus the costs of moving. Minus the costs of home improvements. Minus the original purchase price. Minus the mortgage payoff.

So, for neither side was this anything even close to a $400,000 transaction, but that is what generally would be reported as the value of the house.

The cost or value of something, especially a large project, is exceedingly problematic, unless parameters are set very precisely as to what is being talked about.

In the case of City Creek, there are a number of other buildings going up or planned that could be included or excluded in the scope of the overall project, complicating cost estimates even more. This isn't just apples and oranges. It is the entire produce section.

What number gets reported depends on what is included in the definition by the person writing the article, and what costs are included/excluded.

This happens all the time. You buy a house for $400,000. With closing costs, $420,000. With interest over 30 years, $1,300,000. With costs to furnish and landscape, add $60,000. Then there are real estate taxes over 30 years, utilities, upkeep, replacement of water heaters, furnaces, roofs, etc, savings on rent, decreasing the cost, opportunity costs of not having the cash to invest in other things. So, what should get reported as the actual cost of the house?

Meanwhile, the person who sold it got $400,000. Minus real estate commission. Minus other closing costs. Minus the costs of moving. Minus the costs of home improvements. Minus the original purchase price. Minus the mortgage payoff.

So, for neither side was this anything even close to a $400,000 transaction, but that is what generally would be reported as the value of the house.

The cost or value of something, especially a large project, is exceedingly problematic, unless parameters are set very precisely as to what is being talked about.

In the case of City Creek, there are a number of other buildings going up or planned that could be included or excluded in the scope of the overall project, complicating cost estimates even more. This isn't just apples and oranges. It is the entire produce section.

who buy a paper to see what is going on in SLC. If you believe what the TV stations show of GC, you would think that everyone attending is a minority and from some foreign country. Those are the only ones they interview that are going to GC.

I have this daydream where all the condos in the City Creek center are bought up by a combination of gays, liberals, and atheists. As a result, downtown Salt Lake actually becomes interesting. Alas, this is just a daydream.

Burton says the money is not public money. It isn't "church tithing funds" either.

He will not say what the source of funds is! You don't just pull $1.5 or $3 billion dollars out of your backside. It comes from somewhere.

Probably a bunch of chains like this:

Tithing > Investment > Profits > Mall.

How is that not "using" tithing funds?