Developer should pay city bill with condos, committee says I have to take issue with the Condos for cash deal. It is not the issue of supporting the arts that I have a problem with. It is the question of is this the best use? IMO, no. As the Chicago's succsess with promoting the arts shows, and similar in the way shopping malls and public attractions work, the city needs anchors. This type deal favorus only a few. Small spaces like these will spur nothing, as the same impediments remain. Forgoing $6,100 in yearly tax revenue, on top of the $75,000 capital outlays, give far to little in return. Perhaps use the funds to provide some seasonal art shows for local artist only. Our use the space solely as a public gallery. Or even convert these spaces to residential, enjoy the recapitalization of values (value will go from est. $300 per ft. to $500) and put to better use the extra $200,000.