Well, well. The city of Charlotte will walk away from the horrible idea of buying the Parkwood Food Mart in Belmont.
You remember that one. The city proposed in August to pay $472K — or over three times the current tax value — to Robert Lunn for the property even though at the time Lunn owed $3400 in back property taxes. No one knew that little wrinkle until Meck Deck reported it. But even more crazed was the notion that property which as defined by the city’s own price-point had greatly increased in value was still in need of direct city subsidy. In short, the scheme made zero sense.
But now, with a city hiring freeze and lower city revenues all around, we are told the deal suddenly does not make “business sense” and is not “economically feasible.” Poppycock! Four months ago city staff just thought they had sacks full of cash to play with. That’s what has changed. More specifically, when it is headcount vs. new projects, the bureaucratic calculus changes in amazing ways.
One cover story — that the site would only support 13,000-sq. ft. of retail, not enough to jump-start the neighborhood — is laughable on its face. So no one knew the size of the parcels they were going to buy? All you can do is shake your head.
And be certain that’ll they be back at it just as soon as the money starts coming in again.
Bonus Observation: Guess we are stuck with that “extended destiny” for the food mart that John Lassiter warned us about.
