Bruton Smith Blvd...what a JOKE! (Micro, Speed: money, corporate, sunny)

[mullman]

Originally Posted by sstarrx3

All the things you just quoted are things that a very rich man would get to do. It's the comments he has made to the media that gives light to his true personality. :

I disagree.
Media. Pppfft!
I would probably treat them worse than he does given the opportunity, and in person I am a gentlemen and a scholar.
Generally, there is no more self-serving industry than the media...

[SunnyKayak]

Billionaire Bruton Smith doesn't like waiting up to 40 years to get his $80 million in incentives from Concord and Cabarrus County.

Smith: Incentives to take too long | www.charlotteobserver.com

[flexysteve]

He has Cabarrus County by the bean bags, why not.

They really need to get more businesses in that area if they ever hope to tell him to kick rocks. They need that research area in Kannapolis ASAP.

[theroc5156]

Not very Christian of him.

Of course, 40 years IS too long but didn't he agree to it in the first place?

[Metallisteve]

Dislike him or not, he was wronged by the city (or county, I can't remember who told him to stop now)...and they're lucky they got off this easy. Sure, some say the area would support itself now even without the track...but this would be like Charlotte imposing a new bank tax or something else to tick off banks in the city limits.

You don't bite the hand that feeds you.

[Metallisteve]

Originally Posted by theroc5156

...but didn't he agree to it in the first place?

No...there was no time limit (as I recall) set. However, take note that 40 years is just one scenario. The media (as usual) fails to inform us of the whole story...such as the expected payout time, or the details of how the incentives will be paid out. All we get is that it's based off of property values...which apparently if they take too long to grow or something unexpected happens (a severe real recession), it could stretch the incentive repayment out over the 40 years. The exception rather than the norm in other words.

[Stripes17]

On a related note, when all this was going down I decided to stand behind the dragway versus the NIMBY'S. Today I received our tickets to the inaugural NHRA event at the new Z Max dragway next month. I can't wait. Woohoo!!!

[md to nc]

Whether you pay more in taxes to repay Bruton or pay more in taxes to cover revenue when Lowe's pulls out, either way you are going to have to pay more taxes. It happens everywhere in the country, with growth and time taxes will go up. Just so happened in this way but it will happen.

[anifani821]

Originally Posted by md to nc

Whether you pay more in taxes to repay Bruton or pay more in taxes to cover revenue when Lowe's pulls out, either way you are going to have to pay more taxes. It happens everywhere in the country, with growth and time taxes will go up. Just so happened in this way but it will happen.

Yep, growth means increased taxes. You are right. It all comes down to - when.

[BrianH1970]

Originally Posted by md to nc

Whether you pay more in taxes to repay Bruton or pay more in taxes to cover revenue when Lowe's pulls out, either way you are going to have to pay more taxes. It happens everywhere in the country, with growth and time taxes will go up. Just so happened in this way but it will happen.

But I think the whole thing wasn't going to cost Concord anything until the NIMBY's got involved. It wasn't until Smith was threatening to leave did the city come back with concession after concession. I don't think this had so much to do with growth as it did the people who moved themselves next to a race track.