The city's new aquatics center is still afloat, thanks to a 7-1 vote of confidence Tuesday night by the City Council.
Specifically the council voted to fill a $6 million funding shortfall with certificates of participation financed by hotel-occupancy tax revenues.
Given the substantial promise of the planned facility, which will be built as part of the Greensboro Coliseum Complex, perhaps we ought to be cheering.
Maybe later. Right now it's hard to feel anything but had.
The problem here isn't so much the what as the how. If the council had done its homework, it should have been plain to see that the $12 million earmarked for the swim center in a 2008 bond package probably wasn't going to be enough. For instance, Wake County's privately built swim center cost $25 million to build in 2007. Other experts cited price tags for similar facilities that typically exceeded $12 million.
As it stands now, Greensboro's new swim center will cost a total of $17.4 million even after city staff scrambled to whittle the price through "value engineering" -- and even during a period in which construction prices are supposed to be relative bargains.
What's more, while the price tag has steadily risen over the years for taxpayers, it has mysteriously shrunk for private partners. The first of two previous failed swim center bond campaigns in 2000 included a pledge of $1 million from the local swim community.
That same community has pledged $250,000 in 2009.
Giddy swim center boosters who lined up Tuesday night to sing the facility's praises were missing the point.
The question is not the appeal of the swim center as an economic generator or a community amenity or a need in a city where existing pools are cramped and crumbling. Nor is it the value of the facility to the struggling High Point Road area.
The problem here is the process, not the product.
Even if this wasn't intended as a bait-and-switch proposition, it certainly feels that way -- like a too-good-to-be true credit card offer whose real costs lie in the fine print.
Not all of the newspaper's content appears online.
*There is a fee for downloading some older articles.