Sunday, March 1, 2015

Minutes from the "Public Hearing and Consideration of Purchase of Real Estate in Conjunction with the proposed Greensboro-Liberty Mega Site"

"The Piedmont Triad Partnership (PTP) has invested $4.9 million already, of which a majority has gone to property owners for the purchase of, or to place property under options, and to pay a due diligence fee.

[Bonnie Renfro, President of the Randolph County Economic Development Corporation] reviewed the current property status of the site, as follows:

1,350 acres under control
• Owners were offered minimum of 2.5 x tax value
• Environmental assessment underway
• Utility service commitment to extend
– City of Greensboro...

Who committed Greensboro
to provide utilities?

...Ms. Renfro stated that the PTP has requested that Randolph County purchase 255.13 acres of property from them at a price of $4,186,552.01 with the average price of land and improvements
around $16,409 per acre. She said that the balance of the State grant totaling approximately $1,566,700 for the purchase of the property. The balance of $2,619,852 can be appropriated from the Site Development Fund, which the Board established and funded for this purpose.

So Randolph County now owns 255.13 of about 1,350 acres
with more that needs purchased.

Sam Simpson just had a very nice day.

If 255 acres is worth about $4.2 million, 
there are another 1,095 acres PTP controls.

255 is about 19% of 1,350.

...Sam Simpson, President of Simpson Commercial Real Estate, who has been in front of the property owners to negotiate the purchases and has been working with the Piedmont Triad Partnership to assemble this project site, said he was available to answer questions.

If the 255 acres was about $4.2 million,
each acre went for about $16,471 a piece.

1,095 x $16,471 = $18,035,745 more
for what the PTP currently controls
and more for what isn't under contract.

...Alan Ferguson, spokesman for the Northeast Randolph Property Owners, presented community
concerns. He said they oppose unwarranted risk with public money and questions why there are so many empty mega sites when highly paid people are organizing the projects. ...He said, “We do not want to be left behind peering into the innards of an inert or failed mega project and also be presented with a dark reality of County finances requiring shoring up with additional taxes…” He added that North Carolina already has thirteen sites, not counting the Chatham-Siler City site, and listed their locations and available acreage. These would be the competition if the expenditure is approved.

...Mr. Ferguson asked who would be making the decision on behalf of the project; who would hold the title to the mega site; who will operate it...

...there may be another agenda other than jobs driving the issue. He feels that the main reason is for Greensboro to run water and sewer to northeast Randolph County enabling Greensboro to expand and annex southeast Guilford County highway 421 corridor.

...Chairman Frye replied that she is correct; the Board does not have all the answers.  He proceeded and mentioned that the Chatham site could cost Randolph County.  He reiterated that the money will come from partners such as the PTP, the North Carolina Rail Road, Duke Energy, the City of Greensboro, the Golden Leaf Fund, and Piedmont Gas.
Who told Chairman Frye the City of Greensboro would spend the money?

Has it been approved by City Council?

Why not a referendum, as the money will be spent outside the city's borders?

If the target is 2,000 acres, and they only control 1,350,
2,000 - 1,350 = at least 650 to go.

650 x $16,471 = at least $10,706,150 to go, just for the land.

The PTP wants Greensboro's taxpayers to cough up $2 mill,
for "engineering" etc..., while they still have to raise and spend
at least $30 million.

And Greensboro pays $22.5 million to get water and sewer there?

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?.
"The annual meeting for the Joseph M. Bryan Foundation, which the former Greensboro mayor heads as president and CEO, featured an overview and update on the effort by real estate broker Sam Simpson with Simpson Commercial, who has been heading the effort to secure control of close to 2,000 acres in northeast Randolph County to help land an auto plant. the crowd to hear the megasite pitch were Randolph County commissioners, who early this month voted to purchase property within the proposed megasite footprint outside of Liberty for more than $4 million. Other partners in the push include the city of Greensboro, which would spend millions to run water and sewer to the site..."

Who at the City of Greensboro approved/authorized "Other partners in the push include the city of Greensboro, which would spend millions to run water and sewer to the site..."?

Who at the City is saying Greensboro taxpayers "would" blow $22.5 million?