Wednesday, July 18, 2007
To Hell with BankofAmerica
So yeah, they are about as BIG a bank as you can get, what pundits often describe as “Too BIG to fail” (until, of course, they do), and as a result they can squander funds any way they please.
Since Bank of America touts its ‘Community Impact’ by heralding “the financial resources and expertise to help communities achieve their full potential as desirable places for people to live, work and raise families,” then why are they not rebuilding their bank at 75 East Pleasant Street, a prime commercial location?
I’m sorry for the fire, believe me. I know all too well what it’s like to have something burn down around you. My apartment complex, however, was rebuilt. And if anyone else in town owned that prime property I could assure you they would rebuild.
Last year the building was valued at $555,500 so a brand new building would probably be valued over $600,000, thus providing at least $9,000 in property taxes.
The land itself is valued at $246,300 so now Amherst loses $4,500 in revenue. And since banks, unlike Health Clubs, are exempt from the town’s “Personal Property Tax” (equipment) the drive-up ATM will not be taxed at all.
But my main concern is the loss of vitality. A cold, automated operation where once human beings dwelled to help assist customers. And those employees probably had lunch, shopped, or ran errands in our desirable downtown.
Bank of America should be embarrassed.