Post by D Thomas on Feb 26, 2010 14:43:52 GMT -8
Seems like there should be some worry and concern here. Karen says everything is great. Think so? The first two 107 unit buildings will be apartments, not condos. What does that tell you? Even those will be built with federal help from HUD. If you had condo sales commitments, which would you build, condos or apartments? So out of 1000 proposed condos, there aren't enough sales to build 200 condos? No condo sales, no taxes on sales. No taxes on sales, no revenue to the town. I know the apartment buildings are on the Tacoma side but what, and when, will anything ever be built on the Ruston side? What kind of project will it end up being if it's mostly apartments?
We now learn that the Silver Cloud hotel will be built only when certain conditions are met. That wasn't what the town council was told when certain members rammed through MC's requests to enable construction to get started as soon as possible. The town council was told that the hotel HAD to be built by 2011 (and they were already behind schedule so hurry up and give them whatever they want!). No one mentioned any other conditions or commitments then.
The LID work is being done by MC so Tacoma is keeping them going by having them do their own work. It's good that financing is "loosing" up but the project was designed when a condo building could be sold out before a building ever went up. Now, you can't even get enough sales to start building.
We now learn that the Silver Cloud hotel will be built only when certain conditions are met. That wasn't what the town council was told when certain members rammed through MC's requests to enable construction to get started as soon as possible. The town council was told that the hotel HAD to be built by 2011 (and they were already behind schedule so hurry up and give them whatever they want!). No one mentioned any other conditions or commitments then.
The LID work is being done by MC so Tacoma is keeping them going by having them do their own work. It's good that financing is "loosing" up but the project was designed when a condo building could be sold out before a building ever went up. Now, you can't even get enough sales to start building.