January 30, 2014 5 Comments
Wowers! News from the J-T
Porters project stopped — Buildings to be removed to make clear development site”
Wowers!! Just before New Years we were told We were just days away
From the story
“There is no major dispute; it’s all wordsmithing,” O’Connell said. “… The details matter, and the attorneys are paying attention to details.”
“I think by the end of the year our development agreement will be final,” he said. That was 12/12/13
Now just around 40 days away Team Porter’s is DEAD DEAD DEAD just like some say Downtown Racine is.
Bet Mayor Dickert is one unhappy Camper after all the time and PR spent on the great Team Porters! To see something going from being signed by the end of the year.
So now The new idea is to tear the whole thing down and build something new Again from the J-T Story
“Mayor John Dickert said his office will work with Waters to find a new developer for the site which is slightly more than one acre. He said it would be right for developments such as:
– A corporate office building. There have been such inquiries in the past but without a sufficiently large site, Dickert said.
– A hotel.
– Ground-floor commercial structure with housing above, as the Porters project was to have been….”
40 days from almost being a done deal to this.
Questions I have include
Did the City of Racine have any idea this was coming?
Will Waters get paid anything from this?
Will this end a police/fire investigation from the pipe leak?
How much if anything did insurance pay out?
Will the City of Racine buy this now worthless I guess lot
If so for how much?
Will this end the TIF/BID
Who will get the contract to tear it down? I bet we already know
Does this not go to more show how worthless Downtown Racine is? Did $$ not come in as was maybe needed because of falling property values? Recall that the old Historic Century Market sold for less then I think 10% of assessed value just a few weeks ago.
IMHO this is a big sigh the Downtown Racine is dead not coming back to life and its time to stop spending good City and County money on the pals of John Dickert and Jim Ladwig
Sure liked seeing Kaplin on Belle City TV at 7 PM but is running old TV shows what we are paying 150K + for?