Couple items from last week add up to.....hhhmmmm!!
" Work is set to begin this summer on a $4.7 million redevelopment project...
Developer Chandler Anderson of Icon Development Group...is partnering on Midtown Lofts with Morrissey Realty Group, a business formed by Mayor Larry Morrissey and his father, Joe Morrissey. Since his election, the mayor has transferred his financial stake in the company to his parents. The duo have a similar partnership — the redevelopment of Garrison School — that introduced high-end rental units to the city’s near downtown Signal Hill neighborhood...."
Illegal???weellll, don't know for sure,but UNETHICAL as all get out!! Face it,LarryDaddy ain't no spring chicken....where's the estate gonna end up,you suppose???
(Word is,Dandy Chandy and LarryDaddy still owe big bucks to some of the sub-contractors that worked on Garrison, claiming cash flow problems...so most of the place sit UNFINISHED,a war-zone lot on 1100N.Court(where's the CodeEnforcementCops on THAT eyesore??)
So let's see,get that TIF advance for MidTown...finish Garrison??? find workers that are willing to take a chance of getting paid???
But I digress...
The interesting story came a couple days later...
"MACHESNEY PARK — The village has gained a 4-to-1 return on its investment in the redevelopment of the Illinois 173 and Illinois 251 intersection.The more than $7.6 million of public money invested in improvements since 1991 has generated more than $31.8 million in private investment, according to an annual financial report for the village’s first-ever tax increment finance district...."
See, LarryBoy is busy blaming the city's financial challenges on employees,schools,economy,blah,blah,blah...
But this guy,through TIF bond debt, HAS BROUGHT THE CITY TO THE BRINK...
Where's any kind of return-on-investment statement for the millions spent since he took office???new TIF, de-TIF, re-TIF, River district,Midtown,Eastside,Westside...everywhere a TIF tiff....back to story...
"...The district spurred the corridor’s development, even encouraging development outside the TIF boundaries, Mullins said....“...would Target have built across the street? Probably not. I think that’s a reasonable argument. That development, in my opinion, is a direct result of the TIF,” Mullins said. “All of that development east of Alpine (Road), would that have been there without that TIF? There’s reasonable argument that it would not have been.”...
See create a TIF, let development COME...don't run around creating TIF's WHERE THE DEVELOPER WANTS
Course,if the developer is Daddy.....excrement everywhere....
Tuesday, April 20, 2010
Wednesday, April 7, 2010
So the real estate portfolio of the cash-strapped City of Rockford grew again with the WTF purchase of the old Amerock building downtown...
How's this..."River District Association Executive Director Kim Wheeler Johnsen... noting the district’s board of directors recently approved a resolution supporting the city’s purchase of the Amerock and Tapco buildings...."
WHAT changed in OUR CITY GOVERNMENT that gives two hoots what some collection of self-serving,tax-sucking bunch of downtown business whiners "resolves'?
Then I see #1 LarryBot "Applehead"Curran on TV saying it gives the city control over this prime riverfront property....Hey pinhead,stop drinking the cider mash and go look...it's several hundred feet WEST OF THE RIVERFRONT!!!!!!!!!!!!!
Ah, but LarryBoy didn't emerge unscathed....
Sunday's RRStar carried TWO one-time LarryBoy supporters bashing his overall scheme...
http://www.rrstar.com/opinions/letters/x1043115827/Anywhere-USA
"Mayor Morrissey cited several economic arguments in his successful 2005 campaign. One was to rehab downtown buildings, increasing their property taxes, eventually equalizing the disproportionate burden on northeast taxpayers.Campaign volunteers took those arguments to voters and helped win the election.B&B Properties put those principles to work, occupying the renovated Richardson Building in 2006. Today, we are working on the 600 block of Cedar.Modest in architecture, these buildings boast dramatic 360-degree views and one of early Rockford’s richest histories. Owned by the son of a French trapper and Indian princess, the land passed to Germanicus Kent. The block hosted a cemetery, railroad and Irish “patch,” morphing into the city breadbasket and final home of two renowned seed companies.Not riverfront properties on the cusp of the Water Power district that fueled our industrial growth like Tapco and Amerock, they have quiet merit.Now consider demolishing historic Cedar Street buildings from Avon Street right down to the river and throughout the city. This green alley will only serve to institutionalize tax inequities that aggravate today and convert Rockford into Anywhere, USA.City leaders: Please remember that 2005 wisdom. Buy and hold if you must, but do not convert revenue sources into public obligations."
— Marge Bevers, Rockford
AND...
"...So why on earth would our City Council even consider a plan that would spend $3 million and probably more to demolish these buildings and replace them with an open grassy field?It is no consolation whatsoever that the field would be a small addition to Davis Park. Each building’s footprint is only 150 feet by 150 feet. The intent of this plan — to prevent the city from being held hostage by future incompetent developers — would be accomplished merely by the city purchasing the buildings.It is a waste of money to demolish the buildings to achieve this goal. Don’t judge the viability of the buildings by the competence or, in this case, incompetence of past developers.Maybe the best thing for Rockford would be if the city just does not buy these buildings.The last five years have left me feeling proud that at last my city leaders had left behind the demolition-happy “urban renewal” days of the 1960s. But this wasteful, destructive proposal is a return to that failed mentality and, sadly, demonstrates that our leaders are losing confidence in Rockford’s future."
Gary Carlson owns a used-car dealership in Rockford. He was twice chairman of the Rockford Historic Preservation Commission. The Landmarks Preservation Council of Illinois honored him three years ago for his restoration of a 1908 home on North Second Street.
Rather refreshing(though probably too little too late)....
How's this..."River District Association Executive Director Kim Wheeler Johnsen... noting the district’s board of directors recently approved a resolution supporting the city’s purchase of the Amerock and Tapco buildings...."
WHAT changed in OUR CITY GOVERNMENT that gives two hoots what some collection of self-serving,tax-sucking bunch of downtown business whiners "resolves'?
Then I see #1 LarryBot "Applehead"Curran on TV saying it gives the city control over this prime riverfront property....Hey pinhead,stop drinking the cider mash and go look...it's several hundred feet WEST OF THE RIVERFRONT!!!!!!!!!!!!!
Ah, but LarryBoy didn't emerge unscathed....
Sunday's RRStar carried TWO one-time LarryBoy supporters bashing his overall scheme...
http://www.rrstar.com/opinions/letters/x1043115827/Anywhere-USA
"Mayor Morrissey cited several economic arguments in his successful 2005 campaign. One was to rehab downtown buildings, increasing their property taxes, eventually equalizing the disproportionate burden on northeast taxpayers.Campaign volunteers took those arguments to voters and helped win the election.B&B Properties put those principles to work, occupying the renovated Richardson Building in 2006. Today, we are working on the 600 block of Cedar.Modest in architecture, these buildings boast dramatic 360-degree views and one of early Rockford’s richest histories. Owned by the son of a French trapper and Indian princess, the land passed to Germanicus Kent. The block hosted a cemetery, railroad and Irish “patch,” morphing into the city breadbasket and final home of two renowned seed companies.Not riverfront properties on the cusp of the Water Power district that fueled our industrial growth like Tapco and Amerock, they have quiet merit.Now consider demolishing historic Cedar Street buildings from Avon Street right down to the river and throughout the city. This green alley will only serve to institutionalize tax inequities that aggravate today and convert Rockford into Anywhere, USA.City leaders: Please remember that 2005 wisdom. Buy and hold if you must, but do not convert revenue sources into public obligations."
— Marge Bevers, Rockford
AND...
"...So why on earth would our City Council even consider a plan that would spend $3 million and probably more to demolish these buildings and replace them with an open grassy field?It is no consolation whatsoever that the field would be a small addition to Davis Park. Each building’s footprint is only 150 feet by 150 feet. The intent of this plan — to prevent the city from being held hostage by future incompetent developers — would be accomplished merely by the city purchasing the buildings.It is a waste of money to demolish the buildings to achieve this goal. Don’t judge the viability of the buildings by the competence or, in this case, incompetence of past developers.Maybe the best thing for Rockford would be if the city just does not buy these buildings.The last five years have left me feeling proud that at last my city leaders had left behind the demolition-happy “urban renewal” days of the 1960s. But this wasteful, destructive proposal is a return to that failed mentality and, sadly, demonstrates that our leaders are losing confidence in Rockford’s future."
Gary Carlson owns a used-car dealership in Rockford. He was twice chairman of the Rockford Historic Preservation Commission. The Landmarks Preservation Council of Illinois honored him three years ago for his restoration of a 1908 home on North Second Street.
Rather refreshing(though probably too little too late)....
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