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« WotD | Main | Corrections »

Apr 17, 2012

Comments

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Hartzman

You have to love all the biggies
fighting over everyone else's money, no?

Hartzman

look how fast it disapeared
from the GN&R's front web site page.

Andrew Brod

You're right: everyone's in on the conspiracy.

In fact, come to think of it, how do we know you're not in on it too?

Mick

What does this have to do with reval Hartzman? Is your value to high? Too low? Did you appeal. I believe by law, reval has to be done every 8 years (minimum) and can be done wvery 2 years (max.

Fight the fight about rates but reval is what it is... market. At least in theory.

Billy Jones

Saw this one coming a mile off.

Brian

The article does raise some pretty significant questions, so I hope that it get the appropriate visibility in the N&R online version. If it doesn't appear in print version today than I would expect the article got pulled for revisions. If it never appears again, then that's a different story.

I remain steadfast in my belief that it would be best for the passing of the bond to not have Matt Brown or the Coliseum involved in the picture. If that means no hotel/motel funds, then build something that doesn't need those funds, or raise it elsewhere.

P.S. Typepad officially hates Chrome.

Ron

You know there is a loop hole the task force is considering that would use tax dollars to build this place without voter approval.

Triadwatch

In article all they need to do is amend the law, simple fix when legislators have their short session but to do so need every single guilford county delegation on board which is hard to do. Community Foumdation sanders calls Henry short sighted but to me they are interpretating state law and until you amend the law then no money can go towards downtown only coliseum.

Brian

I haven't read the state law, but don't you think they tried to address the use of the hotel/motel tax by placing the "downtown" PAC under Matt Brown's management - thus making it a Coliseum facility?

Hartzman

"don't you think they tried to address the use of the hotel/motel tax by placing the "downtown" PAC under Matt Brown's management - thus making it a Coliseum facility?"

Xactly

Hartzman

"You're right: everyone's in on the conspiracy."

Who recomended the consultant?

Any conflict of interest there Andy?

Billy Jones

Ron wrote: "You know there is a loop hole the task force is considering that would use tax dollars to build this place without voter approval."

Really, no kidding?

Brian wrote: "I haven't read the state law, but don't you think they tried to address the use of the hotel/motel tax by placing the "downtown" PAC under Matt Brown's management - thus making it a Coliseum facility?"

Exactly. From the very beginning, Perkins has insisted that Brown manage the PAC. Now you know why.

Brian

Which is why I won't support a PAC proposal that places it under Coliseum management. I'd rather see a $40 million PAC. I mean, the numbers are pretty arbitrary at this point, anyways.

Mark Sutter

Really? This hadn't been reported anywhere else but the Business Journal until now? Or is it just now being debated?

From Jan. 27 Business Journal:

"Brown noted that the occupancy tax revenue is dedicated for use by the coliseum complex facilities, so that funding stream wouldn’t be available for a performing arts center downtown."
http://www.bizjournals.com/triad/print-edition/2012/01/27/mix-of-cost-location-key-to-reality.html?page=2

From March 8 Business Journal blog post: "Preliminary discussions about this project have centered around a $30 million publicly financed bond, along with $10 million in private contributions, and the use of hotel-motel tax revenues. Those tax revenues have been estimated at about $11 million, but would require the new performing arts center to be connected in some way to the Greensboro Coliseum Complex due to restrictions on how they can be spent."
http://www.bizjournals.com/triad/blog/2012/03/around-the-gso-performing-arts-center.html

Brian

I think it has been part of the discussion, but now you have the legal parties to each side weighing in on the legality of the funding mix and challenging the assumption that is made in your March 8 post.

Most interesting, in my mind, was Brown's refusal to comment on the story in the N&R. When was the last time Brown did that?

Of course, this is inevitably what happens in a rushed process.

Andrew Brod

Yep, George, you caught me. When the GPAC committee asked me about economic-impact and feasibility studies, I suggested AMS Planning & Research along with a few other consulting firms in which I have a major financial stake, so I knew I'd profit hugely regardless of what firm got the contract. I also get a finder's fee for bringing the contract in. I was hoping to keep all this secret, but your eagle eye and relentless Search for Truth wore me down and forced me to admit it here in public.

Sheesh, what a dummy.

What's the boring reality? I suggested a few firms that had nice websites and appeared (based on checking out a few reports) to do good work. Yawn.

Billy Jones

I visited DPAC with the GPAC crew last week and we were all told to expect a PAC to cost upwards of $60 Million plus the cost of land. Of course, the original figure to be bandied about was as much as $72 Million so it appears that everything about this process has been bogus or at the very least, sloppy.

Ed Cone

Mark, thanks for the link to the Triad BizBlog -- I had not known of its existence, but will add it to my reading list.

bubba

"...so it appears that everything about this process has been bogus or at the very least, sloppy."

Standard Operating Procedure for the Business As Usual cabal.

Ron

Through Certificates of Participation, the performing arts center can be built with tax dollars without the approval of the voters. This is how cities like Charlotte make things happen and Durham built its PAC this way.

Brian

Or, they could just tuck it into a Parks & Rec bond.

Billy Jones

Ron only recently learned to read and write. Thus, his need to write to us what we already know.

Seriously though, if Certificates of Participation are really such a great tool then why don't politicians use COPs for all our woes?

Anyone?

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