I'm sure. I don't know why the city doesn't just put certain restrictions on the development of the building rather than become the owners. The same goal can be accomplished without out putting the taxpayers on the hook.
I wondered if they were going to get sued like they did on the 5-points parking garage deal, or the Convention Center hotel deal, if they didn't step up and buy it, after they basically killed the deal that the owners had with the devleloper?
From a legal standpoint, I'm not sure how much liability the City would have on the Compress Deal.
It's not like the folks from Ohio bought the property, and then the City made the property less valuable. From a damages perspective, I'm not sure what the actual damages would be in a suit against the City. From the accounts I've read, the contract never materialized.
No government should be. Your father-in-law can rant and rave on this subject for hours.
ReplyDeleteI'm sure. I don't know why the city doesn't just put certain restrictions on the development of the building rather than become the owners. The same goal can be accomplished without out putting the taxpayers on the hook.
ReplyDeleteI wondered if they were going to get sued like they did on the 5-points parking garage deal, or the Convention Center hotel deal, if they didn't step up and buy it, after they basically killed the deal that the owners had with the devleloper?
ReplyDeleteFrom a legal standpoint, I'm not sure how much liability the City would have on the Compress Deal.
DeleteIt's not like the folks from Ohio bought the property, and then the City made the property less valuable. From a damages perspective, I'm not sure what the actual damages would be in a suit against the City. From the accounts I've read, the contract never materialized.