JPG - I don't think it is the responsibility of the taxpayers to bail out the developers. If they miscalculated and paid to much for the Arcade, and now have to cheapen their original proposal, or postpone it til times are better, or cancel it, well that is unfortunate, and I wish it were not so. But if they come in with some song and dance about needing to construct something larger on that site, or to tear it down and build a faux Arcade behind a piece of the original facade, or to plead financial hardship, if they ran into a Board that wouldn't fall for that story (again) then they would be the ones holding the bag. They need approvals, permits, etc. If they try a "bait and switch" and people say "No" they may actually have to live up to their original commitment.
Riverside Info » About Riverside
Why a TIF Will Not Result in Better Developer Control
(33 posts)-
Posted Thursday Jan 18, 2007 19:58 #
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Mike, the Arcade is a village landmark. They would be looking for a white knight to buy it as when - in a case I mentioned earlier - some vulgar local real estate agent tried to buy a famous old farmhouse on Lawton, tear it down, and subdivide the land into two lots.
I don't know whether they had an agreement with the village, whether written or verbal, that would result in a breach of contract if they did this.
This is likely more of the scare tactics and intimidation of the pro-TIFfer to try to push their program through. The building is not so run down that any teardown is going to be cheaper than at least a renovation, plus its height is grandfathered in.
Posted Thursday Jan 18, 2007 19:58 # -
Beware of White Knights. We had a Board that refused to accept the gift of the 23 acre Babson estate and insted aloowed it to be subdivided by Walter Baltis. The same Board let Arnold Skow spilt up the Coonley property. Thank God Dean Eastman has restored that, even with the ranchers on the grounds. These were priceless and irreplaceable components of Riverside's history, and that Board squandered them. We should not let our dwindling assets be so treated.
Posted Thursday Jan 18, 2007 20:20 #
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