Comments on: City’s "Bad Deal" Moves Forward http://www.pubdef.org/2006/12/14/citys-bad-deal-moves-forward/ CHANGE THE GAME Sun, 11 Apr 2010 12:59:57 +0000 hourly 1 http://wordpress.org/?v=3.0 By: Anonymous http://www.pubdef.org/2006/12/14/citys-bad-deal-moves-forward/comment-page-1/#comment-4978 Anonymous Fri, 15 Dec 2006 14:07:00 +0000 http://www.pubdef.net/?p=1255#comment-4978 Why don't we make the St. Louis Centre building the location of our Super Recreation Center, instead of South St. Louis where there are an abundance of recreation facilities?<br/><br/>We may have to rezone and reclassify the land first, but that just takes a vote.<br/><br/>There is enough space in the building, there is already a parking garage, it is easily accessible by the metrolink,it is next to our convention hotels and many other ones, and it may increase traffic downtown.<br/><br/>Just thinking outside of the box on this one! Why don’t we make the St. Louis Centre building the location of our Super Recreation Center, instead of South St. Louis where there are an abundance of recreation facilities?

We may have to rezone and reclassify the land first, but that just takes a vote.

There is enough space in the building, there is already a parking garage, it is easily accessible by the metrolink,it is next to our convention hotels and many other ones, and it may increase traffic downtown.

Just thinking outside of the box on this one!

]]> By: Anonymous http://www.pubdef.org/2006/12/14/citys-bad-deal-moves-forward/comment-page-1/#comment-4976 Anonymous Fri, 15 Dec 2006 00:24:00 +0000 http://www.pubdef.net/?p=1255#comment-4976 It is a shame that people are reacting to this without a full comprehension of eminent domain. If the city uses Eminent Domain to purchase the building, by law a three person panel would set the sale price based on appraised value and other issues. In this case, if the sale price at $20 million, then where would the money come from to do the development? <br/><br/>Remeber, the buildign is downtown and does have some value associated with it, so the price could be very high. It is a shame that people are reacting to this without a full comprehension of eminent domain. If the city uses Eminent Domain to purchase the building, by law a three person panel would set the sale price based on appraised value and other issues. In this case, if the sale price at $20 million, then where would the money come from to do the development?

Remeber, the buildign is downtown and does have some value associated with it, so the price could be very high.

]]> By: Anonymous http://www.pubdef.org/2006/12/14/citys-bad-deal-moves-forward/comment-page-1/#comment-4975 Anonymous Thu, 14 Dec 2006 23:17:00 +0000 http://www.pubdef.net/?p=1255#comment-4975 The Comptroller's opposition may be based on a mistake. According to her press release: <br/><br/><i>"The building, One City Centre, was purchased for about $17 million 5 years ago. Today, the seller wants $37 million of which the city is being asked for upfront TIF funding of $14 million using its full faith and credit."</i><br/><br/>Actually, the "$37 million" isn't the seller's price, it's the cost of the entire project.<br/><br/>No wonder she was upset: she was looking at the wrong column! The Comptroller’s opposition may be based on a mistake. According to her press release:

“The building, One City Centre, was purchased for about $17 million 5 years ago. Today, the seller wants $37 million of which the city is being asked for upfront TIF funding of $14 million using its full faith and credit.”

Actually, the “$37 million” isn’t the seller’s price, it’s the cost of the entire project.

No wonder she was upset: she was looking at the wrong column!

]]> By: Anonymous http://www.pubdef.org/2006/12/14/citys-bad-deal-moves-forward/comment-page-1/#comment-4974 Anonymous Thu, 14 Dec 2006 23:03:00 +0000 http://www.pubdef.net/?p=1255#comment-4974 LRA is not able to market any property the way it currently operates. One must understand that 7 different agencys make up the St.Louis Development corp. This group was put together to facilitate Eminent Domain in North St. Louis and split the spoils of city goverment LRA is not able to market any property the way it currently operates. One must understand that 7 different agencys make up the St.Louis Development corp. This group was put together to facilitate Eminent Domain in North St. Louis and split the spoils of city goverment

]]> By: Anonymous http://www.pubdef.org/2006/12/14/citys-bad-deal-moves-forward/comment-page-1/#comment-4973 Anonymous Thu, 14 Dec 2006 22:58:00 +0000 http://www.pubdef.net/?p=1255#comment-4973 As a 6th ward resident, I KNOW how Lewis Reed would vote! Pyramid and the other developers own him. Other wards worry about absentee landlords. We worry about an absentee alderman. Well...absent to the 6th ward residents whom he represents. If a developer has a cocktail party, however, he's there. As a 6th ward resident, I KNOW how Lewis Reed would vote! Pyramid and the other developers own him. Other wards worry about absentee landlords. We worry about an absentee alderman. Well…absent to the 6th ward residents whom he represents. If a developer has a cocktail party, however, he’s there.

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