Dr. Guarino asks a few questions of his own about the proposed mixed use development on the corner of Elm and Lee streets.
Here’s a good primer on the Towne Center at Soulsville, the $11 million mixed-use lifestyle center for which former Shelby County Commissioner Bridget Chisholm served as financial advisor. Note the project involved a complex financing structure including the City’s first development deal utilizing the New Markets Tax Credit (NMTC) as senior debt.” No doubt the feds would be anxious to extend tax credit for Ms. Chisholm’s $75 million hotel to go along with stimulus cash and city tax increment financing.
Anyone concerned about the cozy relationship between developers and politicians in Greensboro should be wary of this development. Looks like the lady knows how to play the game.
Update: Greensboro City Attorney Terry Wood advises Mayor Yvonne Johnson and her entourage not to hop Roy Carroll’s plane to D.C. in search of fed stimulus money for the new GCS headquarters.
The Community Foundation is “baffled as to how the flight could have been construed as a gift,” considering the fact that Carroll is a board member “who graciously offered his services.”
