By Bennie Hanna
What I don't understand, and I'm being serious here, is how some of you people think this bunch of guys, EC's "Gang of 6," (Godfrey, Safsten, Jorgen, Filiaga, Stephenson & Burdett) are in any way qualified to make the decisions that they have. None of them, to my knowledge, has EVER owned or operated their own business, and until you lay your ass and bankroll on the line, you don't really understand the dynamics of the "deal."
None of these guys is a realtor or real estate broker. None of these guys is a developer. None of these guys is a builder. None of these guys is an investment capitalist, stock broker, or entrepreneur. They are but elected officials with no developmental track record, no frame of reference as to what it honestly takes to put a deal together and then take it to fruition. They risk your money and mine, money from the "General Fund," money that if they lose, they can get it back through impact fees or Block Grants. They use RDA TIF for the seed money, not theirs, not even money from the people they plan to GIVE the completed projects to.They do not have their own money on the line, nor do they bet their house or their 401K. THEY HAVE NO VESTED INTEREST in these deals, they have no RISK, and one needs to experience that, at least once in awhile, before one can understand the "art of the deal" (thanks for the quote, Donald Trump).
An example of the correct way to do these things is Carlos Hebron. Here's a guy who sold real estate for years, made some bucks on "flips," started his own brokerage, kept a couple of rehabilitated houses then put them on the line to finance Adams Place. He invested his own money his own blood, sweat and tears, and in the span of 8 months accomplished what Godfrey and Reid have yet to accomplish in 2 to 3 years downtown, and those two have the power and the finances of Ogden City behind them. Planners, Inspections, the whole bunch, all bending over backwards for these City projects yet they can't sell a freaking condo. Hebron, meanwhile, is about 2/3 full, with supporting business also on site. These City guys have nothing on the line, no money, no blood, sweat and tears. They put on their blinders and charge forth, recklessly, paying attention to nobody. They have big time developers like CityVenture walk out on them because they insist on being in charge yet they don't know how to do the deal . CV spotted that and took their money and ran....don't blame them. Wonder how this David Allen guy's going to feel in another year? Donald Trumps they're not.
Please, before you get sucked in, LOOK, LOOK at what they've accomplished. They couldn't get Shupe Williams off the ground, even by selling it for a lousy hundred bucks. The buyer said it was not within the realm of reason to put money in it....too expensive to rehab, and if he did, those condos hadn't sold anywhere in town, he knew that, and passed. Look at the 2 or 3 housing projects that took 4 years to sell out, some still only half sold. Look at Jefferson Avenue, Townhouses going for $129K, down there, in a crime area, all unsold, most poorly constructed. Is that smart planning, or what?
Stuart Reid says Channel 17 is the way to market this stuff, that that was the reason the Union Square condos failed to sell....give me a break, Channel 17? My gawd, people, what's he thinking? The problem was the concept and the construction....swing on by and take a look at the model, then tell me you'd move you and your family down there, even if the transients or meth freaks weren't in the area. Desolate, backed up to a power grid, barred in with really no yard, overlooking the backs of deteriorating buildings. Not a place I'd enjoy calling "home."
They abused eminent domain until they lost it and WalMart along with it The wreck center: 9 DELAYS....9 freaking delays! All because they don't know what they are doing and won't hire somebody who does. The Woodbury suit, which they lost. The Army's upset because they violated the agreement made at inception .... they "thought a diversion of funds was OK to do. Have they ever heard of a phone? Maybe dial up the Army, float the idea, see what they say, then, depending on the answer, give it try or back off. But no, charge straight ahead, into the fray, and now we're in debt $10 mil plus interest, everyday, for the Wreck Center the entity that's supposed to pay it back. But the Wreck Center's still, after 4 years, a pile of contaminated dirt. The old mall was one hell of a buy, wasn't it?
Union Square. The corner building, vacant, ready to sell or lease, but deals keep falling apart, and now, THEY'VE DRIED UP. The project in BK, subs broke and twisting in the wind, David Allen into it $900,000 in CASH, waiting for the influx of buyers. 2 of 14 residential units sold, and one of them is up for sale....the owner has given up and wants his money back because nothing is happening down there.
The Street Festival: 125,000 people, goods and wares lining the street, big money made by everyone that day, festivity in the air, a good time had by all. And now, cobwebs! Godfrey tried to fix what wasn't broken, he thought he was a promoter and he's never sold a ticket to anything in his life. He single handedly torpedoed the Street Festival (by dumping the beer, the sponsers, and the arm wrestling) an icon that a hundred thousand people looked forward to and showed up at. Why? because he didn't know what he was doing and did it anyway. First Night....also GONE.
Firemen running engines short handed because they don't have the funding. It's all going to keep this insanity afloat. Marshall White Center, privatised; Union Depot, our heritage museum, nearly closed, roof leaking, broke. The Infrastructure, $148,000,000 to get back up to par again, yet there's only a $6,000,000 allotment for it in the budget while he POURS dollar after dollar into these projects that he absolutely doesn't know anything about. And you think they should have "intervened sooner." Damn it, use your head.
Now, before you rail on me, think of this: if they did know something, anything, about these things, ONE of them would have worked. Can you tell me which one has? Which one is solvent? Which one is paying back its taw? Which one is up, running, vibrant, and doing what its intended purpose was?
And again, you think these guys waited too long to get involved. My gawd, people, THINK....it's your future too.
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Editor's Note: This article was originally submitted as a comment on another thread, and has been edited and slightly modified with the permission of its author.