Bayfront task force meeting on Thursday
— by Jeffrey Wisniewski — 18 January 2012 — 3 comments »
A Bayfront task force meeting requested by residents has been scheduled for Thursday evening — 6pm at city hall. The meeting will supposedly focus on the recent delays in negotiations and will hopefully make headway in solving them.
Ticking time bombs do remain in the development agreement at this point and appear to be roadblocks to a successfully executed deal, but separately, the ongoing sad state of the City’s finances are its own impediment to success. Special consultant Charlie Long included a summary in his most recent project status report:
[S]hortly after the Planning Commission’s [recommendation for approval on November 28], the City completed a substantial reassessment of the City’s capacity to fund the local share of the project costs, including the land acquisition. [...] [T]he plan had been to use advances from capital 2 accounts to be repaid from the sale of real estate owned by the City. The reassessment concluded that the funds available in capital accounts had been severely diminished by massive deficits in redevelopment. In addition, proceeds from the sale of City-owned real estate are not likely to be available for another 12 months and may be subject to “claw back” by the state. Based on this lack of available funding, the City was forced to take a step back and to re-assess how to address the funding for the project.
[Insert snarky comment about the owner/developer refusing to execute on the train station land agreement portion without the other required documents for full entitlement as the reason for delay.]
I fully expect an unadulterated discussion of the pertinent issues facing the project. Anything less will be insulting to the community that has worked so hard for so long to push this project from a perpetual track towards failure to one that has even the potential for success.
The complete project status report by Charlie Long is embedded below:
UPDATE — Charlie Long has sent out an updated report with discussion points for this evening…
