Gold Dome

[Bill Robertson]

A person who threatens to tear down his building tomorrow if they don't get approval today is nonsensical. I can't imagine anyone who has the financial equity to reduce the overall value of the borrowed-on asset by 40% or more on a whim. Filthy rich guys like Midtown Renaissance, etc... might. But they would be too smart to ever engage in that self-destructive blackmail.

This is a major red flag, IMO.

If the dome structure is as far gone as it very well is the bare lot is more valuable than the lot with the building. The building is a net loss from the get go. This is my whole point. If someone wants to try and save the dome let them do it at any cost or don't bitch if it gets bulldozed.,

[mugofbeer]

Notre Dame was a net loss 200 years ago (yes, l know, not an equal comparison).

[Dob Hooligan]

If the dome structure is as far gone as it very well is the bare lot is more valuable than the lot with the building. The building is a net loss from the get go. This is my whole point. If someone wants to try and save the dome let them do it at any cost or don't bitch if it gets bulldozed.,

I was referring to his Wichita efforts. If he didn't get city approval on December 3, he was going to tear down the theater building on the 4th.

[Midtowner]

Notre Dame was a net loss 200 years ago (yes, l know, not an equal comparison).

Slightly different.

Only slightly.

[BoulderSooner]

A person who threatens to tear down his building tomorrow if they don't get approval today is nonsensical. I can't imagine anyone who has the financial equity to reduce the overall value of the borrowed-on asset by 40% or more on a whim. Filthy rich guys like Midtown Renaissance, etc... might. But they would be too smart to ever engage in that self-destructive blackmail.

This is a major red flag, IMO.

this property is worth more as demo'ed blank slate ..

[Jake]

Perfect location for one of those A&W/Long John Silver combinations. Or maybe like one of those small banks you've never heard of anyone actually using.

[Dob Hooligan]

this property is worth more as demo'ed blank slate ..

Again, I was referring to his efforts in Wichita, which appears to be something more akin to the Tower Theater in size and midblock configuration. His threat to tear it down on December 4th if the city doesn't approve his expansion plan on the 3rd looks like a poorly thought-out, empty threat.

[Midtowner]

Perfect location for one of those A&W/Long John Silver combinations. Or maybe like one of those small banks you've never heard of anyone actually using.

I mean you kid, but within 10 years, that'll be the location of a pretty great Pho restaurant.

[Rover]

Slightly different.

Only slightly.

Yes, nearly the same in cultural impact, historical value, property value, architectural value, …..

[jn1780]

Slightly different.

Only slightly.

And it wouldn't be reopened today if France tried to use a TIF in the same way and 'hoped' a developer restored it. The government had to just eat the full the cost to rebuild it.

If we really wanted to do the same with Gold Dome we are better off doing the same thing and not screw around with a TIF and middlemen.

[Dob Hooligan]

And it wouldn't be reopened today if France tried to use a TIF in the same way and 'hoped' a developer restored it. The government had to just eat the full the cost to rebuild it.

If we really wanted to do the same with Gold Dome we are better off doing the same thing and not screw around with a TIF and middlemen.

I think France got hundreds of millions of Euros privately donated from all over the world. Probably the largest amount of non-government donations to a building restoration in history.

[Mott]

From a CNN article, The cost of rebuilding Notre Dame is expected to be approximately 700 million euros ($767 million). In total, 846 million euros ($928 million) were raised in donations from 340,000 donors in 150 countries, according to Rebuilding Notre Dame de Paris.

[Rover]

And it wouldn't be reopened today if France tried to use a TIF in the same way and 'hoped' a developer restored it. The government had to just eat the full the cost to rebuild it.

If we really wanted to do the same with Gold Dome we are better off doing the same thing and not screw around with a TIF and middlemen.

Talk about apples and oranges.

People need to get out and see the real world and put some things in perspective.

[Midtowner]

And it wouldn't be reopened today if France tried to use a TIF in the same way and 'hoped' a developer restored it. The government had to just eat the full the cost to rebuild it.

If we really wanted to do the same with Gold Dome we are better off doing the same thing and not screw around with a TIF and middlemen.

Because this analogy DEMANDS to be tortured into oblivion... and to fine tune your analogy:

It's more like there is a middle man who after Notre Dame had its fire, who purchased the property from the Church and then demanded that Paris pay him double what he paid for the property and only THEN could they have a chance to restore it--and he wasn't chipping in on that at all.

Yeah. I agree. I'd rather the city declare the property blighted and take it at whatever its fair market value is, and either develop it as a municipal project or move it through urban renewal, which is almost certainly less than the cost of the TIF being demanded.

[BDP]

I mean you kid, but within 10 years, that'll be the location of a pretty great Pho restaurant.

More likely a gas station with dozens of pumps with a wide variety of energy drinks and brown food. The closest OnCue will be a whole 10 blocks away and the Casey's across the street is too small for a proper beef jerky selection.

[Midtowner]

Probably spot on, but I'm not sure how many gas stations will still be around 10 years from now given the way EVs are progressing.

But that's another subject.

Simply put, this is basically extortion, i.e., give us money or the property gets it.

The city needs to come up with some guidelines and a process ASAP to avoid these sorts of situations. A renewed urban renewal authority with expanded powers and a competitive bidding system which is blind as to the identiies of the bidders such that Moshe Tal could win a bid in this city is in order.

[CaptDave]

Probably spot on, but I'm not sure how many gas stations will still be around 10 years from now given the way EVs are progressing.

Speaking of.....in a world where EV adoption was moving faster, it would make a very cool EV charging center like the ones Ionna is planning.

https://www.ionna.com

[Midtowner]

Speaking of.....in a world where EV adoption was moving faster, it would make a very cool EV charging center like the ones Ionna is planning.

https://www.ionna.com

That's a pretty awesome concept! I'm mildly skeptical as I rarely charge outside the home. It would seem more like something to put near the interstate.