Ahwatukee Foothills News
City Councilman Sal DiCiccio thinks some heads should roll after Phoenix lost millions in taxpayer money on its ill-fated entry into the hotel business.
The City Council last week approved the sale of the downtown Sheraton for $255 million – about $50 million less than what the city still owes for building the 1,000-room hotel in 2007 in an effort to draw more business at the Convention Center after spending $600 million to enlarge it.
“Remember that the real loss to taxpayers is $200 million,” DiCiccio posted on Facebook after issuing a city news release that called the sale “the final, sad chapter in an orgy of corporate welfare and insider dealing that has cost the citizens of Phoenix far more than anyone at City Hall will admit.
