Sunday, September 10, 2017

Another Deposit In Greensboro's Land Bank

By Sal Leone

There are times when you get news that is interesting and at times you get news that is boring or just plain pointless but today I got news that is interesting. I like people to open their minds and think like a crook because when you have money and lies, well you have crooks. The call I got today was from a CI that had information on the News and Record building and the meeting council had to discuss same. The city is the best bidder for this property and I will not be shocked if others bail out. The property is worth 9 million dollars and now is when you should think like a crook. The price will go up if developers want the property because they have capital and a special interest in the property, so what do you do as a local developer to keep the price down. The first thing is not to bid because you want to show no interest in the site and then you let someone else buy it that is working for you. The city will buy the property because it has the money and the seller will see no interest in the site and sell it quick. The city will buy the property and the developer who wants it will first clear any remaining debt he has so he can get a good bank loan because who has 9 million in cash. I hope people by now see that buying a building from the city at cost or below cost is better then bidding and increasing the price and why buy it for 11 million when you can get it for 9 or less. The city will unload the property and claim its to build something for the people but if the city buys the property what happens to city property tax, oh yes it don't collect it since it owns it so the city starts to lose right away. The City will buy the property and unload it for some rich pal who has given money to council for their elections, but people in this town are not the sharpest knife in the draw and will buy what Nancy and company are saying. My hopes is the truth will cause the people to speak out and force the property to be sold the right way. The city can buy the place and make a domestic violence shelter and hell it has room for a homeless shelter, many services can be located here to help people. I will support buying it to help people, not developers.