State officials reach a deal with Bluegreen Development Corp. to buy the controversial 690 acres that will help fill out Haw River State Park. Fair enough, as it appears the property owners took care to make sure their interests were addressed.
Since the state’s using COPs to buy the land, the price is going to be considerably higher than $14 million, right?
Bonus observation: A of of people around here think this is a good thing. I think it’s great, too. I love state parks. But it doesn’t change the fact that the state is borrowing the money to make this happen. The theme this week is saying what needs to be said, no matter how many times you have to say it. I think back to the Guilford County budgeting process last year (this year’s budget will be here before we know) and commissioner Mike Winstead commenting that, as long bond debt will have to be serviced, taxes will have to go up. And COPs are at a higher interest rate than bonds.
The bottom line is the bill always comes due, and then some. With that in mind, Haw River should be a very nice state park.
