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Friday, February 10, 2012
City's response to 10th and K development project comments
by Raoul Kleven, published on March 19, 2009 at 9:19 PM
Storyline: Sacramento News
Maurice Chaney, Public Information Officer for the City of Sacramento, had this to say in response to comments made by Cline Moore and Jim Knapp of the Build America nonprofit organization.
"In terms of the money that will be used to fund the 10th and K development, I think it's important to clarify that the Sheraton Hotel proceeds are legally obligated to David S. Taylor Interests and the CIM Group, and can only be used for downtown development projects.
"The City believes that this project builds on the momentum and number of investments made downtown, including the Citizen Hotel, the Crest, Ella’s, the Cosmopolitan, and Marilyn’s. The development of 1012-1022 K Street not only reinforces these investments, but will compliment business activity in Midtown.
With regard to the cost, the City of Sacramento is providing $5.7 million in assistance for the project; not $10 million as mentioned.
"It’s important to remember that the City of Sacramento did its due diligence as part of this project proposal. It met with many stakeholders and other interested parties, including the midtown businesses, over several months to ensure that full participation and outreach was conducted to understand the issues and concerns. Prior to the council meeting, an accord was made, whereby the Mayor, Councilmember Tretheway and several midtown businesses and restaurateurs agreed to move ahead with this project.
"As part of the provision of the agreement, it was agreed that a marketing campaign between the Midtown Business Association, the Downtown Sacramento Partnership and the Convention and Visitors Bureau be developed and implemented to effectively market Midtown and central city businesses. Additionally, the city has agreed to match the private dollars generated towards this effort."
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Chaney is intentionally misinforming the public, the cost of the K street project also includes the value of the FREE land given to Taylor, worth over $5 Million according to Attorney Steve Belzer who represented the previous property owners who had their property seized by force from the City in order to GIVE it ti Taylor.
Chaney also states the mantra: "I think it's important to clarify that the Sheraton Hotel proceeds are legally obligated to David S. Taylor Interests and the CIM Group." NO SH*T! Thats exactly the problem Chaney! The City sold the Sheraton to David Taylor below market value, and even then the City made a return on the taxpayers initial investment in the Sheraton...But instead of returning the communities investment of tax dollars, they GAVE 23 MILLION BUCKS to Taylor to do with basically as he pleases as long as he uses the money downtown. WHAT A SCAM! There was no legal obligation whatsoever to give Taylor this $23 million dollars to do with what he pleases.
I also liked where he sates "It’s important to remember that the City of Sacramento did its due diligence." Well of course it jumped through all of the Hoops it is required to by law, however, those hoops do not prevent corruption at all, in the end, Taylor got his $10 million free dollars to build bars. What do you think would happen if YOU wnet to the City and asked them for $23 Million dollars? What about just $10 million?
I also note that former City councilman Josh Pane is so incensed by this project that he is working on circulating a referendum to let the taxpayers vote on throwing this deal out. I for one will help circulate this petition and donate money to the cause.
The City did not do the months of outreach to Midtown business owners that this City statement states.
Gadfly - I hear from some real estate sources the City would most likely get half to two-thirds that price in the market today. It looks like the sold at the right time. The deal with giving half the proceeds back to Mr. Taylor without prejudice is another story.
Another tidbit to chew over. I heard the club owner doesn't even have the $1.7 Million for his part of the deal He is selling shares in the project to get the money he needs.
Paragary, Simpson and Taylor will drive other bars out of existence and control the market in this town...Unfair business practices...subsidized with tax dollars...must be nice to own politicians
I am against the use of eminent domain if that property is only handed over to another person with political ties, as opposed to building a park or fire house. In this city, they take private property and GIVE IT AWAY to insider developers at taxpayer expense... people in this town should be up in arms...but they are too busy watching American Idol and Dancing With The Stars.