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Council to hold special meeting on downtown building

Friday, January 23, 2009

(Updated Saturday, January 24 - 7:57 am)

Staff Reports

GREENSBORO - The City Council has called a special meeting for Tuesday to consider a resolution on a $3.6 million development on South Elm Street.

Councilman Zack Matheny requested the special meeting, according to a news release issued Friday by the city. It will begin at 5 p.m. in the Council Chamber in the Melvin Municipal Office Building at 300 W. Washington St.

A public hearing on the matter will be heard at 5:30 p.m. Feb. 3 in the Council Chamber.

The City Council talked about the project earlier this week.

Accompanying Photos

Lindbrook Development Services

Photo Caption: Artist rendering of proposed building at 324 South Elm St.

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ncb

January 23, 2009 - 5:55 pm EST

Man, thats ugly. Does this city still have a planning department, because of all the recent developments lately, it sure as hades doesnt seem like it

papanther

January 24, 2009 - 1:32 am EST

The planning dept neither makes artistic renderings nor decides on the merits of economic incentives. Wrong scapegoat here...

GsoFan

January 23, 2009 - 6:32 pm EST

Will it be televised?

Oona

January 23, 2009 - 7:10 pm EST

It seems that at this time, the city should be so careful with the spending of taxpayer dollars. Unless this project will directly impact a large part of the population with job creation or necessary resources, it is not the time to give $100,000 to a private "A+++" Corporation. If they are confident that their project will be successful, they could find a way to make it happen with their own resources.

nclawkid

January 23, 2009 - 7:40 pm EST

The incentive is to purchase a portion of the city-owned parking lot directly adjacent to the development site. Without that portion of land, there is not enough land to allow for the outdoor dining and other elements pictured above.

It's not like the city is giving away $100K in cash.

Oona

January 23, 2009 - 11:51 pm EST

But t is still taking an assett that is held by the city and giving it to a private company. What is the difference? Why not negotiate a fair price for the land? Perhaps the city (government) should operate more like a business.

nclawkid

January 24, 2009 - 12:38 am EST

Consider yourself fortunate that the government is even operating at all, although the fact that we're even discussing this project would seem to indicate otherwise.

The way the proposal is currently structured, the incentive would act as a loan to the developer and would only be forgiven by the city when the tax value of the building reaches $100k. So while the city would be losing a small portion of the parking lot, the city would eventually get back the value of the land given away through future tax revenues.

The city has a lot more resources than private companies. And this would allow the city to leverage its resources to spur development in downtown. And let us not forget that the developer would be spending $3.6 million on construction which will not only add jobs or maintain existing ones, but the city could further benefit from sales tax revenues from restaurants and shops that occupy space in the development.

And perhaps most important of all, if a developer can move forward with such a big project in this economic crisis, perhaps other developers will give a second look at building in downtown.

I can understand hesitation when it comes to some economic incentives. But the one proposed for this project wouldn't require actual cash to be given out and I think the development will benefit Greensboro many times over the amount of the land the city would be losing.

Oona

January 24, 2009 - 11:23 am EST

Your first comment is vague, although I agree that the business of using tax payer money for incentives or even bailouts is not sound and can not be sustained "as is" within our current economy. Continuing this practice without learning from past projects is irresponsible. Incentives can work and are necessary in some cases, but careful thought should be given to the particular project and the benefit to the overall economic health of the city.

However you word it, the city is forgiving $100,00 from this company, whether they are handing them cash or land, or forgiving future taxes owed, the only difference is time.

Building another restaurant/office space downtown is courageous, but not when the developer of a 3.6 million dollar project demands land from the city or else.... and then storms out of the meeting when concerns are raised.

You are right that at this time any new projects should be lauded, and of course we want to spur further projects downtown, but can we do it without setting a precedent of government handouts that future prospects will want, and rightly expect to receive ?

I must comment though, that compared to other cities, Greensboro has ample parking. When you visit a business in a city, you don't expect to park right out front.

newkid

January 23, 2009 - 10:56 pm EST

Just half a block away, there are complete buildings for sale that could be renovated...they have become eyesores and they desperately need attention. Before the city grants anyone the authority to build a new building--or use a city parking lot--the city should encourage renovation of existing buildings.