"Thanks for checking into the 380 grants. You are certainly correct when you say they were glossed over, and after seeing what they really are, I understand why nobody on staff or the council wanted to discuss them.
So, let's just give the developer the $2,000,000 library building, "sell" the land at a discount. (Only to give the proceeds back with tax abatements.) Rent the library space back from the developer to guarantee at least 65% of the retail space is occupied for at least five years, leaving only about 5,000 SF available for retail/commercial development for that long. But that's okay, after all this is only a catalyst, not the full monty of downtown development, right?
Somehow, the 400 or so residents of the Village will make all the difference in the world to downtown business success. And the sales tax from 5,000 SF of retail/commercial, minus 15 years of property tax revenue will justify the $90,000,000 lost to date on the DART rail line.
All that, and all we have to do is put the city at risk for almost $10,000,000 while creating the possibility of not having a home for the library in five years (actually 7 years max) and losing the possibility forever of consolidating our municipal services downtown.
What a deal. This actually reminds me of the federal "Cash for clunkers" program of a few years ago. The city is basically out $10,000,000 to buy approximately 400 new residents. In essence, we are paying each new resident $25,000 to move to Rowlett."
A very interesting analogy in the final sentence. I never thought of it that way, but it is certainly a different view.
I am in support of a downtown residential project. However, not at any price. I have nothing against the developer nor the consultant, but people, people, people......we are in the midst of the best apartment developers in the entire USA. We have architects that can design any exterior that "officialdom" wants to comply with their "form based codes." I don't think our "officialdom" even knows some of the dangers in form based codes.
If we passed this same deal out to apartment developers in the DFW area, they would line up outside city hall for blocks.
Now, the big question........Has the City of Rowlett already obligated itself by the mayor entering into an agreement with the developer?
All I ever wanted was a little time to think this thing thru. Now, we've been stampeded. It wasn't your fault.