By Wendy
After reading today's Standard Examiner article about the Windsor Hotel renovation, I'm a bit miffed. From the article:
The city council has granted $288,000 to Ogden Properties to help fund the renovations, with $100,000 coming from the city’s sale of foreclosed HUD homes.I agree that the preservation of 25th Street buildings is extremely important, but why is the City forking over so much dough to this one enterprise? What about all of the other business and building owners along 25th Street who can use free money to improve their businesses and buildings? It seems completely unfair to me. If I had a building or business on 25th Street I would be irate! Has anybody from the City explained why this one entity is receiving such a large subsidy and others have not? If the City is granting this much money maybe they should take ownership and do it themselves. I dunno. Does anybody know how much money the private investors are putting towards the project?
In addition, $111,500 will be derived from tax increments generated by the 25th Street redevelopment project area, while $76,500 has been earmarked from the city’s Business Information Center reserve account.
