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$16M! Great investement or another failed endeavor

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buddhalite View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote buddhalite Quote  Post ReplyReply Direct Link To This Post Topic: $16M! Great investement or another failed endeavor
    Posted: Aug 17 2022 at 9:11pm
"Every government intervention [in the marketplace] creates unintended consequences, which lead to calls for further government interventions." -Ludwig van Mises
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buddhalite View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote buddhalite Quote  Post ReplyReply Direct Link To This Post Posted: Aug 17 2022 at 9:15pm
Well, I was supposed to write this first - but this place has been dormant for far too long.

What's the going thought on the $16M the city now has to stand good for with the purchase of the Towne Mall?

Personally - it looks just like Austin Landing, Liberty, et. al...and those aren't exactly shining examples of what they were to be and from a standpoint of retention - certainly not what the developers hoped.

Do we need another 'destination' exit off I-75?  How many do we have to have in a 15 mile stretch of interstate.

Is there really enough youth hockey in the area to build hotels and retail around?

I'm seeing visions of every past failed project our councils have undertaken - and I feel that this is just another of the same.

This council has now, I believe, devolved into the same as every previous council - had such high hopes - but I've lost faith.
"Every government intervention [in the marketplace] creates unintended consequences, which lead to calls for further government interventions." -Ludwig van Mises
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spiderjohn View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote spiderjohn Quote  Post ReplyReply Direct Link To This Post Posted: Aug 19 2022 at 12:48pm
Much better than what is there now—-city/warren now control the next step—river/former downtown projects seem stalled—makes sense to me—I have no skin in the game
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buddhalite View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote buddhalite Quote  Post ReplyReply Direct Link To This Post Posted: Aug 19 2022 at 8:35pm
How do you not have skin in the game?
"Every government intervention [in the marketplace] creates unintended consequences, which lead to calls for further government interventions." -Ludwig van Mises
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spiderjohn View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote spiderjohn Quote  Post ReplyReply Direct Link To This Post Posted: Aug 21 2022 at 12:50pm
Don’t own anything commercial in town anymore, so no connection to any area of the city….

Something needs to happen at the east end site, and this sounds like a beginning. Creates another priority outside of the former downtown also.
IMO much better way to spend govt $$$$ than hollywoodtown and continuing storefront improvements again.

To survive, DMI needs to expand up Central to the Jug…and something needs to happen at my old center on S University to compliment a new Sonny Hill building and the surrounding neighborhoods.

Jmo——so much to say……
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buddhalite View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote buddhalite Quote  Post ReplyReply Direct Link To This Post Posted: Aug 23 2022 at 12:20pm
Ah. Well, I still have skin in the game - and taking $.5M of my (taxpayer) money for earnest monies and then the city still being on the hook for the $16M ('cause ya know - TIFs don't always pay out the way they're expected) and you have a recipe for disaster.

When government picks winners and losers - the people always lose.  How much you wanna bet that we'll be giving tax breaks to all these businesses 'just waiting with baited breath to build in Middletown' when and if they come here.

I haven't seen one single named business that wants to build here. We talk about 'retail' we talk about 'hotels' we talk about all this as though they are done deals - but what retailer, restaurant and/or hotel isn't within 10 minutes on the interstate at this point?

I am not a pie in the sky guy - I think governments role is to encourage - NOT FUND - economic development. 
"Every government intervention [in the marketplace] creates unintended consequences, which lead to calls for further government interventions." -Ludwig van Mises
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