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« Escapism redefined | Main | WASP RIP »

Jan 27, 2010

Comments

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Tim

so the question is, does this mean the project is getting full support from city council or do some on council believe because of legal reasons its best not to reconsider?

Kim

So Skip wants to threaten council with a recall election and a visit from Al and Jesse. Just when I was warming up to his fiscal conservatism. Sheesh.

Thomas

Isn't there still a qualifying process before any money is handed out? I guess there's a bond sale and any investors would vet the project before investing. I mean, no one would by potentially worthless debt instruments without completely understanding what is behind them....wait...never mind.

Tim

im so sick of this crap! enough with the racist bull! My concern is that Alston and Hayes are becoming a bullseye for this hotel project and in the end all this crap will lead to hurting the project.

Tim

Alston needs to dissappear from the public spot light in regards to this project. If he and others keep making this an issue about race, they are going to turn the whole city against this hotel. This is also giving many in the community the impression that this will be Skip Alston's hotel.

Joe Killian

Thomas:

The Local Government Commission is going to vet the projects before giving the final nod on the financing.

But I'm told that their requirement will largely be a letter of credit from a bank taking responsibility for the debt should the venture fail.

Presumably any bank will vet the project before taking on responsibility for the debt.

Then, of course, banks and/or mutual funds will likely do some vetting before investing in the bonds.

None of that means the local governments shouldn't be doing vetting before those stages as it's been explained to me (by the bond authority counsel) that should the LGC turn down these projects that funding allocation will go back to the state, not the individual communities.

Tim

At appears the project has the backing of the banks according to Kaplan. So if what you are saying is true Joe, The feasibilty report may mean nothing in regards to this project getting approved for the bond money.

Sedge

I thought this hotel would be great for downtown and Greensboro as a whole if the numbers work, but once Skip Alston inserted himself and stands to receive a hefty commission if the project goes through, as well as controls how the commissioners vote for the most part even if he didn't vote himself, I lost all confidence in the validity of this project. And then the shrieking from Deena Hayes about race and protests when she stands to benefit personally as well - sheesh. You would hope at some point that their constituents would realize these two individuals are only out for themselves, and continue to use race to keep themselves in office. People deserve better housing, schools, jobs, etc. but all these two care about is getting theirs and making headlines. They are in effect holding all of Greensboro and Guilford County hostage with their antics and until someone says enough and votes them out of office, these games will continue.

Tim

I think their public involvment could put the whole project in jeopordy. Instead of talking about the hotel viabilty the community is talking about Skip Alston and Deena Hayes. We all know when Skip Alston is involved in something, the community doesnt want a part of it. Its part of the reason city taxpayers voted down bonds for the Civil Rights Museum back in 2000.

Sedge

I hope Bill Knight and other council members are not bowing to Skip Alston's threats. That would be very disappointing. And not only should Skip Alston be held accountable next time he is up for re-election, but all of the county commissioners who voted for him as chairman should and will be held accountable as well. We have no leadership in either body and nobody who is truly standing up for the best interests of our community.

Lloyd

We continually elect leaders who won't/don't lead. Our current CC have closed their ears to the people who elected them and lack courage to address an issue they claim they were not given proper information on. So here it is: Our times have been reduced to what is wrong being accepted as right and what is right being suppressed or demonized. In other words the lie is more acceptable than the truth, oppression can be bought with a price and a platform is something created simply to get you elected. The only visible truth about this hotel is where the money off top will go to. There's no great support for this project and you certainly didn't see Ole Asheboro residents fill CC on Tuesday. With a project this big and this much money involved its clear that the only support is coming from the benefactors. Can someone please come sell me an ocean?

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