You're too kind...
Here's a pretty good assessment (I think) from the "Verifier" as a comment on the story as it was on the Oregonlive site.
"OK, for you brain surgeons that can't figure this out, do the math on what the article says: $225,000 annual lease minus $100,000 annually in rent credits during the first four years = $125,000 rent. Then "The company ALSO would get a rent credit of 80 percent for any improvements made specifically to the racetrack." So if they make, for example, $150,000 in other improvements they get a credit of $120,000 for that and only pay the city $5000 A YEAR in rent.
The improvements make the track nicer so they can charge event ORGANIZERS more and the public more money to attend, so the company makes more $$ and pays almost NOTHING for rent. And for that, Pook and his company keep 92.5% of the profits, ON A VENUE THEY GET FROM THE CITY FOR PRACTICALLY FREE. It's like renting an office to a company for zero dollars but getting a small portion of the "profits." ALSO, city gets 7.5% of "gross annual profits", not gross revenues. That means Pook can pay himself a MILLION $$ a year as company president if he wants, and thus reducing company "profits" but making him a rich man at the expense of the city.
This is the same SCAM that "Portland Family Entertainment' did with PGE park about 10 years ago. PFE company heads took large salaries during the few years they were in business and the city got basically nothing. Which is probably why POOK's proposal is not to pay property taxes for the first 3 years...then if the company goes under after 3 years, they paid NO property taxes at all. So wake up people, figure it out----it's a "Get me rich QUICK" proposal from Pook at the cost of public money. HOPEFULLY Commissioner FISH can figure it out as fast as I did!!! It's all there in the math......"
FWIW