Renovate the "Crestwood Courts?" Mayor Schlink to advise on the 10/2 @ 7 Pm at White Cliff Park.
Mayor Schlink will host a Town Hall meeting on October 2, 2012 at 7:00 PM in the Gymnasium at White Cliff park Recreation Center. Centrum Properties representatives will also be in attendance to answer questions (from a 3x5 card pre written by interested parties.)
There is no doubt that this will be an informative meeting, and one you will want to attend. Please arrive early so you can fill out the question cards and get them in prior to the meeting starting.
I am wondering if due to the economic malaise were in now, (see attached report's,) the project will actually be able to lease the store fronts to prospective retail and entertainment outlet's.
In case you haven't noticed it the 'durable goods' factory orders are down 13+% for the quarter, and orders for the coming quarter are not what anyone has seen for some time, nor wished to see for that matter.
The November elections will either make or break the "business as we know it" climate in the country, and by extension Crestwood for the next four years.
I wish the best for Centrum, and I know you do as well, so let's go to the Town Hall Forum and see what they have up their sleeve to change this "Malaise."
(Attachment:
http://www.businessinsider.com/final-q3-gdp-2012-9
http://www.thegatewaypundit.com/2012/09/obama-i-want-to-see-us-export-more-jobs-video/)
Tom Ford
NO. 1057
There is no doubt that this will be an informative meeting, and one you will want to attend. Please arrive early so you can fill out the question cards and get them in prior to the meeting starting.
I am wondering if due to the economic malaise were in now, (see attached report's,) the project will actually be able to lease the store fronts to prospective retail and entertainment outlet's.
In case you haven't noticed it the 'durable goods' factory orders are down 13+% for the quarter, and orders for the coming quarter are not what anyone has seen for some time, nor wished to see for that matter.
The November elections will either make or break the "business as we know it" climate in the country, and by extension Crestwood for the next four years.
I wish the best for Centrum, and I know you do as well, so let's go to the Town Hall Forum and see what they have up their sleeve to change this "Malaise."
(Attachment:
http://www.businessinsider.com/final-q3-gdp-2012-9
http://www.thegatewaypundit.com/2012/09/obama-i-want-to-see-us-export-more-jobs-video/)
Tom Ford
NO. 1057
posted by Crestwood Independent at 10:08
3 Comments:
I attended the meeting, and was very pleased with the turnout.
As for Centrum, there's a whole lot of nothing up their sleeve, Tom. There is, however, a hand coming out of that sleeve, and it's asking for a public subsidy of over $40 million. The "entertainment" portion of this destination is upscale bowling (which Mr. Barket could not define when asked what "upscale bowling" meant), a movie theater, and a comedy club.
Anyone who chooses can go to Angelo Gordon & Son's website (they are the majority investor in the mall) and see what they do with the properties they buy at discounted prices. By the way, this company has over $13 BILLION invested in properties.
How smart is it to use public funds to subsidize a company with over $13 billion invested in properties?
Martha Duchild
Up scale bowling is a 'no smoking' atmosphere.
And if I need a comedy club there's always Tuesday's BOA meeting fot $40 million less..
Well folks, my answer to any of this is fairly simple.
Centrum bought the entire property from Westfield for $17.5 million ( Westfield had roughly $12o+ million invested in it.)
So far we see that Centrum has made a shrewd business deal indeed. But wait, the recession hits, stores leave, and now the property is a literal ghost town minus the tumbleweeds (so far.)
As is the "new norm" business model of the new Century, Centrum wants a TIF, CID, and a TDD to "assist" them in their re building of a new "entertainment mecca."
Of course they do, I would too, however the reality is that Crestwood, the Lindbergh School District, nor the eventual customers can afford this luxury.
Yes, I said luxury as the real truth of the matter is that when you add all the taxes this would bring with it folks can, and will feel like they are in Chicago at the tax rate (10 1/4%.)
At the tax rate we will be fleecing them out of to pay these 'political sub division's back they might as well be!
Most of you know that I spent a career in small business, right? Well in good times and bad times I paid my own way, I never received a dime in tax money to support a project that I quoted, sold, and installed.
So what you say? Well I mention this because I feel that the developers should do it the old fashioned way, PAY FOR IT THEMSELVES! If they are such believers that this cannot fail, than let them build it, "and maybe we will come."
let's get back to the high tax rate for a second. Why would anyone go there when we could go to the Crestwood Bowl for a lot less , and do the same thing?
I also wonder why we would even consider 'throwing the Crestwood Bowl under the bus' in the first place? Are we saying that the word loyalty is outmoded in Crestwood?
This entire project as lined out by the developers is fraught with failure, and then what happens to the property? Well they try to find someone to buy it and were off to the poor house again!
Don't believe me? Did you notice the part where the 'prospective tenants' may be holding off commitment's to lease UNTIL AFTER Centrum secures the tax financing from the 'rube's?'(that would be us?) Why is that if this is such a 'sure thing?'
$40 million to 'assist' a developer in rebuilding a place they wish they had never had bought in the first place is in a word, ridiculous. In the words of the air traffic controller in the movie 'Airplane,' "They bought their ticket, they knew what they were getting into!"
Tom Ford
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