Kate McCarthy wrote:This has been my big concern. That this whole ridiculous scheme is going to blow up in their collective faces. And now, by not disclosing this, could a developer get an easy out of any agreement? Or, put the city in jeopardy of being sued?Mark Kindt wrote:Truly fascinating....
Mr. O'Bryan, the developers who responded to the City's RFP to develop the hospital site might have benefited from knowing that there was a buried stream-bed and pond on the property before they submitted their respective proposals.
How was this missed?
Their chicken little cry constantly fluctuated from if we don't do something NOW we will end up with a big empty building on the city's books to six empty acres in the middle of town. Not to mention the asbestos!!!
So we could conceivably have six empty acres that we have to buy back?
Here’s an interesting story illustrating how developers cannot be trusted and how quickly plans can go sour.
Lexington KY tore down several city blocks right in the heart of their downtown - many historic structures were destroyed. The developer ended up backing out shortly thereafter. The land sat vacant for over 6 years - a big field right in the downtown. A second developer finally appeared, dug a huge hole for underground parking, then also backed out. The city literally sued to have them fill the hole - which was far worse than a vacant lot. Finally, 11 years later it appears that something will be built.
11 years - formerly productive land sitting idle. No one paying taxes on it. 11 years!
Developers always present a rosy picture. Do t believe them.
https://en.m.wikipedia.org/wiki/City_Center_(Lexington)
