No surprise, the N&R supports the proposed taxpayer-financed downtown hotel.
It’s understandable —- they’ve got land downtown and themselves, and it would give them something watch outside their office windows besides the Davie Street parking deck. It’s also really hard to believe that veteran newspaper men who supposedly have been keeping an eye on government for years can fall for the logic that no public money is at risk in this project because private investors would be liable for the “federal recovery zone bonds.”
Newsflash, newspapermen —- government eats deals like this all the time —look what just happened with the aquatic center, for heaven’s sake. That’s what makes it an even better risk for the developers—- I’m sure Bridget Chisholm knows this all too well. And the Ole Asheboro Neighborhood Association’s role in this is still very mysterious. They stand to benefit from this deal, but would they also be on the hook for the bonds if the hotel fails? Or are they just angling for some totally free money?
Here’s some more logic— the hotel might not like it, but the city would still have a nice parking deck.
If you ask me, this project defies all logic.
