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Ozidmir wants to suck as much money out of the City as he can. I would ask to see the invoices showing he spent $26M on the property. I bet he can’t.
A proper accounting would be ideal.
This is just all kinds of shadiness from the Mayor and the city. The city knew a cemetery had been there previously and human remains were found at that site almost six months ago, why now is it an issue? If it was truly a concern, why approve the project to begin with? What about the community across the river who was promised a pedestrian bridge? To me, if I was a big time developer, the way this whole thing has been handled, would make me run away from any projects here. Just seems way too sordid for my taste.
Everyone knew from Day 1 there were remains and that they would need to be handled appropriately.
Ozedmir has been feeding from the public teat for years. He got the Ballard administration to give him over $6 million of public funds to build his white elephant Broad Ripple parking garage.
I do not get why anyone cares about a real estate developer who, like all the rest, just wants to siphon off more and more tax dollars.
Keystone wanted the city to subsidize its residential development and soccer stadium, and I get they all come with their hands out, so they were no different. But, when the city looked more closely into the deal, Keystone wanted even more public subsidies and it could not prove it would be able to borrow or get investors to put in private funds to make the project feasible. At some point, the risk to the city is not reasonable.
The city owes a legal duty to the taxpayers, not to private developers who want to stick their snouts deeper into the public trough.
I am sure any major league soccer deal will involve subsidies, too, (and it be good to see the money go to public services instead) but at least Keystone has finally been weaned.
Or: finally SOMEone is holding this developer’s feet to the fire.
This is non longer about soccer. It’s about the city’s tax/bond dollars being at unnecessary risk. A soccer team can perhaps still be a byproduct of this ugly mess….but for sure, the city’s treasury isn’t going to be damaged by reckless development.
Seems like the best path forward.
Ozidmir recklessly bought the industrial/grave yard property without any evaluation of its contamination or burial remains.
It’s a money pit with multimillion dollar environmental cleanup costs and multimillions more to move the remaining graves. Most likely he and his investors are underwater compared to its current market value just on structure demolition and minor toxic cleanup costs alone.
Watch out taxpayers, because you are about to overpay for a property that will need if even more money for environmental cleanup and grave exhumation.
Ozidmir recklessly bought the industrial/grave yard property without any evaluation of its contamination or burial remains.
It’s a money pit with multimillion dollar environmental cleanup costs and multimillions more to move the remaining graves. Most likely he and his investors are underwater compared to its current market value just on structure demolition and minor toxic cleanup costs alone.
Watch out taxpayers, because you are about to overpay for a property that will need even more money for environmental cleanup and grave exhumation.
We will probably never know all the details and background to this story and why the Keystone Group project lost favor. MLS input? City politics? This cemetery issue, like the sudden sale of the parking lot, is just the latest odd twist in an evolving story. I don’t particularly like the idea of Ozidmir and KG getting cut out of a project (and sport) they championed and supported for years just to have the city come in after the fact and take it in a new direction. Again, there are facts missing to this story.
YES, that’s all I am saying!
It lost favor because of hundreds of human remains, KG pushing more cost to the City, and because the City found a better alternative.
Sounds like the city wants the Eleven Park site for the MLS stadium.
Stupid that any entity is fighting over this site. It needs to be respected for what all happened there. Also, why can’t the city use what’s left of the stamping plant land and god knows how many other blighted rundown abandoned industrial sites. And stupid that the city can’t look longer than 3 years into the future and see long term value in the heliport.
No doubt Hogsett wants to also preserve the beautifully pristine White River, free from the burdens of any unnecessary cleanup or development. Didn’t a big delegation of leaders recently go to Singapore to study their river. I assume Singapore didn’t build any stinking buildings near their river. And San Antonio probably regrets improving their riverfront.