Having the city maintain the boardwalk would not be a good thing. They can barely provide routine maintenance to city infrastructure as it is...They'd be spending the absolute minimum. I'm sure Wolstein wanted to go this route because they'd have greater control over how their money is spent...and there is no option to diverting some of the funds generated here to other parts of downtown.
I'm not saying that the things slated for the tax shouldn't be on the developer, but you also can't tell them how to spend their money. Without a dedicated stream of money, it's all gonna come down to business.