The latest word is Midland Atlantic wants a 4 million dollar subsidy on this project. That’s really too bad, because I’ll personally lead the charge on City Hall if they even think about handing over more than $500,000 to this project- and all of that in infrastructure.
So the question is how do we assemble a large lot in an urban environment, blighted or not?
Here is my proposition: pass an ordinance that no city services will be offered to single homes on a block unless the property owner owns 60% of the lots. So begin acquisition, tear down all the other properties, cut off water, sewer, street maintenance, police and fire protection and leave the hold-outs on their own. They also become exempt from property tax, however will still be liable for school taxes and other levies. The offer for their property will remain of fair-market value plus a set percentage for a “rebate” on cost of services that are no longer supplied.
A program would be put in place to relocate to similar housing at zero expense, and a time limit on those offers would be made available. If the holdout wants to acquire the other parcels to make 60% owner ship a reality, they would have to replace the homes with a guaranteed property tax revenue equal to the pre-existing homes, and pay exactly what the parcels cost for acquisition and demolition.
It’s time to start reducing inventory of homes in areas where investment is not taking place city wide. By consolidating residents, delivery of service costs decrease and the whole city benefits.
If Kroger wants to continue to do business in the area, they can- in their current location. If they want 4 million dollars- they can go to a casino and try their luck.