A Meeting of Interest

Oak Ridge City Council will hold a work session next Monday, January 29, in the courtroom of the Municipal Building. The subject will be the proposed Super-Target shopping center, and the extent of the City’s involvement.

It will be televised on Channel 12, but it would be a good meeting to attend if you’re interested.

Although a significant investment will be required of the City to make this deal happen (due to the very high cost of developing this particular piece of property), I’ve seen Steve Jenkins’ revenue projections, and I definitely think it’s worth talking about. Like many, I feel totally burned on the Mall deal (although we never put any money into that deal — the City’s abatement doesn’t kick in until Arnsdorff spends at least $10M of his own money and fills up most of the empty space), and I don’t want to be fooled again.

Make no mistake: there is risk involved. But given the potential tangible return, it’s a risk I’m almost comfortable with. When you throw in the intangibles, it looks even better.

But, this is not a decision that your city leaders are going to go forward with unless people come forward and express their support. That was expressly stated in the original announcement yesterday, and repeated last night and this afternoon.

The numbers part is complicated, but it’s not as bad as the BEP formula. Time is of the essence. Get educated about this proposal, talk about the pros and cons, and let’s make this decision as a community, one way or the other.

One Response to “A Meeting of Interest”

  1. on 24 Jan 2007 at 5:36 am girlfriend

    Great post.

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