Pledges from foundations whose money is tied up in what banks believe to be less that 100% safe investments isn't enough to get them a bank loan so Walker Sanders and the CFGG pitches a plan to the City of Greensboro that requires Greensboro foot the construction costs, maintain the center for as long as it remains and gives ownership to the Community Foundation of Greater Greensboro.
Could you imagine if my partners and I were to go to my somewhat well-to-do friend, Marty Kotis and said to Marty, "We don't have any money so we want you to invest a few million dollars in Wackemall Mopeds, help us get our business off the ground and we don't plan on paying you back."
Marty's a good guy, he'd probably buy our lunch at one of his restaurants but he'd not give us the money. I'm betting my also well-off friend, Justin Conrad would treat us equally well but Justin doesn't keep Libby Hills in business by giving away money.
So how does CFGG spokesman Lynn Wooten get off:
"Community Foundation spokesman Lynn Wooten said he thinks there will be another draft, negotiated to reconcile the positions of the city and the Community Foundation."
Seriously? Are Greensboro's elites so conceited and full of themselves that they think $60 Million Dollars of taxpayer monies are owed to them? At a time when Greensboro is the second hungriest city in America? At a time when many of Greensboro's downtown businesses are delinquent in their taxes?
Someone needs to take the silver spoon out of Lynn Wooten's mouth and shove it where the sun doesn't shine.
