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Location: The place where the road & the sky collide
23,814 posts, read 34,670,113 times
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Quote:
Originally Posted by GCharlotte
City Council just approved spending $13,942,536 of the $15,984,000 that was set aside previously in the 2008 Neighborhood General Obligation Bonds dedicated to Eastland.
The vote was unanimous. One republican was pessimistic about the purchase but since the people already spoke in 2008 to spend even more money he yielded and voted yes.
This is good. I hope that they have a viable plan.
This is good. I hope that they have a viable plan.
Here's what the agenda looks like:
Staff plans to issue a Request for Qualification and Proposals (RFQ/P) for development proposals to support the film and television production industry.
Any such development would likely occupy only a portion of the 80-acre site and would be designed to encourage redevelopment of the remainder.
If the film and television industry RFQ/P does not yield an acceptable development proposal, staff will propose for Council approval specific steps for an interim strategy until the real estate market materializes.
Location: The place where the road & the sky collide
23,814 posts, read 34,670,113 times
Reputation: 10256
Quote:
Originally Posted by GCharlotte
Here's what the agenda looks like:
Staff plans to issue a Request for Qualification and Proposals (RFQ/P) for development proposals to support the film and television production industry.
Any such development would likely occupy only a portion of the 80-acre site and would be designed to encourage redevelopment of the remainder.
If the film and television industry RFQ/P does not yield an acceptable development proposal, staff will propose for Council approval specific steps for an interim strategy until the real estate market materializes.
That sounds like a winner to me. The building will need modifications for the TV/film usage. That's doable. I once worled at a station that started out as an Acme supermarket. If a developer is looking at it & feels that the modifications would be cost prohibitive, They'll look around the city & the area.
The slow decline and closing of the mall has really taken the entire East side with it.
Question is: Can the Charlotte market support another "mall"?
Wrong, the decline of the neighborhood caused the mall to decline and close. The major event that really made the mall hurry up and close fast was a gang shooting in the food court. The area has gone down even more sense the mall closed, but it was already the hood before the mall closed, that's why it closed. Too many damn shootings and robberies to attract customers that wanted to spend money instead of steal.
Good for eastland mall.. I take it that all the problems with latino and other gangs, and crime, and drug dealing that is rampant in the entire area has been taken care of...This is good news. How did they do it by the way? lol
The city dems will buy anything in hopes of possible success. If this was such a hotspot or instant success for movie making, the movie entreprenuers would have bought it themselves. IMO this is a very bad deal for the taxpayers and a failure in the making for the city. Gambling on mere speculations!!! Someone or alot of people in this deal are full of BS.
If you are a member of the very rich Belk family, or that guy down in Texas, or a Sears shareholder, or one of the other owners you did quite well at the hands of the taxpayer. And now that it's passed, the news has already come out that one of the reasons for the city buying it, that is single ownership, was invalid. They are saying now that it's too big and will have to be subdivided for different industries. LOL.
The city and county also lost the tax revenue from this place. Money to fund CMS will have to come from somewhere else, or they will have to make more cuts in the schools. Maybe they will cut the teachers from that part of the city to make it fair.
If you are a member of the very rich Belk family, or that guy down in Texas, or a Sears shareholder, or one of the other owners you did quite well at the hands of the taxpayer. And now that it's passed, the news has already come out that one of the reasons for the city buying it, that is single ownership, was invalid. They are saying now that it's too big and will have to be subdivided for different industries. LOL.
The city and county also lost the tax revenue from this place. Money to fund CMS will have to come from somewhere else, or they will have to make more cuts in the schools. Maybe they will cut the teachers from that part of the city to make it fair.
The money that will be used for the purchase of Eastland Mall, is from an earlier bond, that was passed by voters in 2008. This money was already allocated for Eastland Mall for years now. Whether or not the city had approved the purchase or not, CMS' budgets and potential teacher lay-offs would not have been affected by this. This also the reason why the two Republicans on City Council voted yes, is that the voters approved of this money four years ago.
If the city is considering purchasing the property several factors need to be taken into consideration. Cost is just a minor issue. What can we do as a city to make sure that we are progressing forward and no one is left behind? Wasting money on a building that by the way should not have been closed was a waste of tax payer’s dollars. I know the crime in the area played a big part in the mall closing however we could have cleaned our community up. Properties in lower income areas are easily shut down. No one ever thinks about it again until someone has a light bulb go off”oh we can do this with Eastland mall”. If the mall is a rehab project it should be used solely to revitalize the area. The area should be used to educate individuals and prepare them for the working world a homeless shelter that assists people with becoming self sufficient. Think about it more jobs less people on welfare and more money. I hope this is not another silly investment but an investment that will help our city in a major way.
The money that will be used for the purchase of Eastland Mall, is from an earlier bond, that was passed by voters in 2008. This money was already allocated for Eastland Mall for years now. Whether or not the city had approved the purchase or not, CMS' budgets and potential teacher lay-offs would not have been affected by this.....
This is totally incorrect.
The bond passed in 2008 was for neighborhood improvements which is what the voters across the city thought they were voting on. The city instead decided to spend most of this on just one project.
Bonds are nothing more than an approval to borrow money. The money is not borrowed until used for a project. Additional taxes will have to be collected to pay the interest. Bonds approvals do not have to be spent.
There was no consideration by the county for the city to buy Eastland mall in future budgeting. It was not voted on until last night and the vote could of failed. Now that the property will be removed from the tax rolls, the county will have to make up the tax revenue else where. Since a huge portion of county taxes funds CMS, hence this is a place they might be forced to cut.
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If a developer is looking at it & feels that the modifications would be cost prohibitive, They'll look around the city & the area.
