Saturday, February 28, 2015

Updated; Who would be stupid enough to spend $22.5 million to get water and sewer to a Megasite, about 10 miles away from another that already has it?

"Located in the heart of the Piedmont, powered by the strength of superior logistics, high-capacity utilities and a performance-ready workforce, the Chatham-Randolph Megasite is the certified site of choice for world-class competitiveness.

...A rail-served site in a strategic location less than 50 miles from two international airports and within a one-day drive of major East Coast port terminals.

...High-capacity utilities offer customer choice power, excellent excess capacity in water and water treatment, and fiber available within 90 days of request.

Strong fit for automotive or OEM—1,800± available acres

Direct access to Norfolk Southern RR

Customer choice power—230 kv capacity through Duke Energy

Over 2 mgd excess water and waste treatment capacity

Ample natural gas through PSNC"
How Nancy Vaughan and Zack Matheny give money to their Irving Park friends and contributors, while stiffing East Greensboro

Compare Sam Simpson and Zack Matheny's current exploits to; 12/31/13; "Robbie Perkin's 9,000 acres, Project Haystack, "Incentives" and the Rhino Times"

How many times does it take for Greensboro's taxpayers and voters...
" our best estimates, the PTP have now spent a total of $4,560,000 on the proposed Greensboro-Liberty Megasite.

Where did the PTP get the money?  We can only speculate...

...the PTP can now be reimbursed on a nearly dollar per dollar basis for all of the “skin” they have put into the megasite game.  And that’s where we come in.  The money sitting in Randolph County accounts belongs to us, the taxpayers of this County and the State of North Carolina.  It’s not free money from somewhere.  It’s not even some federal “stimulus” program, whether or not that comparison fits.  It was earned by the men and women who work for a living and then paid by us in taxes.

You should also be aware of where the agents for the PTP have recently been active. All of the lands for which they have paid money and now hold recorded titles (except for the 5.2 acres in the woods off Starmount Road that they bought through foreclosure last year) are north of the big power line easement...

Finally, after going on four years of effort in trying to pitch this megasite to the world of business, there is absolutely no evidence that anyone is asking to come here and build anything. This project can as fairly be labeled as it first appeared to me when I first learned of it.  It was, is, and will remain if funded, a Field of Dreams, paid for by you and me and the citizens of this State and County.

Alan Ferguson
President, Northeast Randolph Property Owners"
Randolph County Approves Greensboro-Randolph Megasite

"There exists in North Carolina already 12 to 18 empty megasites depending on whose count you believe all vying for the same auto plant. Nationally there are 180 empty megasites all vying for the same auto plant according to Site Selection Magazine, a publication owned and operated by the world's only company allowed to certify megasites.

Besides the Chatham County megasite currently being built by DH Griffin, Mr Griffin is also developing a megasite in Ridgeway, Virginia just 45 minutes north of Greensboro where water is already in place via take your pick, Martinsville, Ridgeway or Eden, all from the almost inexhaustible Dan River upstream of the coal ash spill. The City of Greensboro will have to spend in excess of $20 Million Dollars to put water and sewer into the Greensboro-Randolph Megasite."
WTF Jim Melvin, Jon Bell, Mark Brazil, Kevin Carter, Pat Danahey, Don Flow, Kelly King, Nido Qubein, Tim Rice, Kelly Stanhope and Robert Long?

"Powell — with the blessings and funding of several top Triad executives including BB&T's Kelly King and former Greensboro mayor and banker Jim Melvin — bet big on two concepts: developing a megasite to attract what Powell called a "catalytic" project, like an automobile plant; and creating a group called Triad First Capital. TFC's mission is described as raising money and using it to "seed and nurture a new generation of entrepreneurial leaders in the Triad region."

...As 2014 came to a close, Powell — working closely with Melvin and Greensboro real estate broker Sam Simpson — had success in piecing together options for about 1,350 acres in the Liberty area of Randolph County."
"Triad First Capital

Investment Objective

At TFC, we seek to achieve financial returns for members through private investments in select businesses and real estate assets that we expect will benefit the Piedmont Triad region of North Carolina.

...At TFC, our management team believes that a principled investment approach, combined with a disciplined investment process, will yield the best outcomes for our members and the Triad.

...The Board includes local entrepreneurs and executives capable of identifying and evaluating unique investment opportunities in the Triad, who have extensive networks within the business, banking, transaction service provider, investment, entrepreneurial, private equity, and venture capital communities in the area, throughout North Carolina, and even nationally.

...TFC will establish a separate limited liability company (“LLC”) for each specific investment made by TFC members. Each LLC will be managed by TFC. An investing TFC member will become an LLC member of the LLC in which the TFC member determines to make an investment."
Sam Simpson
General Partner
TriadFirst Capital
April 2014 – Present (11 months)Greensboro/Winston-Salem, North Carolina Area
"In a bid to draw new investors into its fold, the Piedmont Angel Network is adding to its structure and launching a new brand name.

PAN, as the organization has been known for over a decade, is in the process of launching a sister organization to be known as Triad First Capital Network. That organization will be a membership group to which interested individuals will pay a membership fee in order to gain access to deals under consideration. The individual investor will decide whether to put his or her money into a particular company.

That's a new approach for PAN, which to date has operated as a "committed capital" fund, says Andy Dreyfuss, who will manage both groups as fund director. In committed capital funds, members pool their money upfront, then perform their due diligence and decide collectively whether or not to invest in a deal.

...since the group decided to join under the Piedmont Triad Partnership regional economic development umbrella last summer, it is now putting more focus on broadening both its reach and impact. There's a limited number of qualified angel investors in the Triad, Dreyfuss says, so PAN and PTP want to make sure they all can find a way to participate.

"The idea is to have multiple investment vehicles for them," Dreyfuss says. "We have a long history with committed capital, but if there are more investors interested in investing á la carte, we can do that now, too."

Most of the deals that members of Triad First Capital Network will see will be traditional angel investments, but they'll also have some opportunities to take part in some other kinds of deals such as company recapitalizations or commercial real estate development. Those kinds of deals would flow through Triad First Capital Private Equity, a separate fund currently in the fundraising stage being spearheaded by PTP CEO David Powell and others.

...Dreyfuss said Triad First Capital Private Equity and Triad First Capital Network will share branding and some deals, but the private equity fund will be managed independently.

The expanded investor options should succeed in bringing new investors to the table, Dreyfuss says, which would help address the stubborn lack of growth capital that Triad entrepreneurs have long faced. He said he's got a list of about 50 people he's talked to in the past year interested in joining a network like the one being launched..."
Hal Eason

Triad First Capital Partner
Jason B. Whitlatch CFA
Brown Investment Properties Inc
440 West Market Street
Greensboro , North Carolina 27401
United States

Jason has more than 20 years of experience in a broad range of financial disciplines. Jason's most recent experience prior to joining TriadFirst Capital entailed macroeconomic research and portfolio construction on behalf of clients of an independent North Carolina trust company.