At last night’s meeting the Greensboro City Council unanimously approved a loan program to help developers renovate vacant big-box retail buildings:
The program will allow developers to seek market-rate loans from the city that they could not, due to current economic conditions, get from a bank, city officials said. It will target buildings that so-called big box retailers have left vacant, sometimes causing blight in neighborhoods.
“This is great opportunity to help stimulate economic development in those shopping centers and create some jobs for our citizens,” Councilman Jim Kee said.
Some might say the reason why we have so many vacant big-box sites is due to the unregulated free market; yet here’s the city handing out very favorable terms. Not even favorable enough for Mayor Robbie Perkins, who, according to the N&R, said he “he thinks the requirement that the developer must turn over tax return information to the city is too restrictive.”
Interesting that Greensboro developer Marty Kotis and the Sunset Hills neighborhood also come up. Assistant City Manager Andy Scott identified Kotis as a developer interested in the new loan program as a means of redeveloping the old Winn-Dixie store on the east side of town.
Turns out Kotis is seeking to redevelop property in Sunset Hills, including the original Ham’s site. It’s a desirable location –in the middle of the city, walkable for nearby neighbors. Yet it sits abandoned, right next to the former Southern Lights. What does that say? It says there’s a reason why these buildings sit vacant –the economy still stinks.
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03
2012 At 9:25 am, DavidH Said:
“Too restrictive”? If these “businesses” can’t get loans from a bank, and the city is offering favorable interest rates – then it would seem that it would be good stewardship of the taxpayers money to be a little restrictive, and check the applicant companies’ risk factors, including past tax returns, in return for said favorable interest rates. Or, not be in the loan business, because that’s not what the council was elected for.
As for the east side vacant building, about the only way that place will ever be able to support any kind of retail establishment, is to make said establishment shoplifter-proof. The true stories of what happened in the Winn-Dixie store that was located there are appalling. Here’s an idea, instead of retail, how about some sort of alternative energy production facility? Wind mills, solar panels?
Sunset Hills? Sam, you said it, “the economy still stinks”.
03
2012 At 9:27 am, Sam Hieb Said:
Thank you for your insight, Mr. H.
03
2012 At 6:55 pm, Billy Jones Said:
Insight? True stories? Mr H is confusing that Winn-Dixie with the Phillips Ave Winn-Dixie. The Winn-Dixie at Cone & Summit used to serve Irving Park and NIP before the shopping centers were built at Cone & Yanceyville and Cone & Church.
The Phillips Ave Winn-Dixie that was 0.03 of a mile from my house is the store Mr H is referring to but even that has changed as that neighborhood is now as safe as New Irving Park according to GPD stats: http://greensboroperformingarts.blogspot.com/2012/10/greensboros-deadliest-neighborhoods.html
As for the big box bail outs, Robbie is beginning to look very much like a 1 trick pony so he and his cronies are out to steal every dime they can get before the voters toss him out of office. A better solution to the problem would be zoning changes: http://greensboroperformingarts.blogspot.com/2012/10/developer-loan-program-i-donno.html
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03
2012 At 6:57 pm, Billy Jones Said:
and if you would please tell your readers to join Impeach Robbie Perkins http://www.facebook.com/groups/412224032177160/