Sharon Boyd, Editor/Publisher |
DallasArena.com Your alternative to The Dallas Managed News Frank Stich
|
 |
 |
|
|
|
06/18/02 Frank Stich shares his letter to Ed Oakley with us:
Dear Ed:
If anyone doesn't get it, it's you.
The only thing that is coming out of the new TIF, is a free parking garage for
the Arena Group. Because you see, we the Citizens of Dallas are not
only paying them to build it at a profit to themselves, we are giving it
to them. Unlike the one we paid them to build for the Arena, and are
renting back to them for only a $1000 a year, and have already agreed to
sell them for $100,000, at the end of the thirty year lease, if they want
it.
And I ask you, why wouldn't they?
By then the Arena is going to be used, but still usable. The upkeep on it is
going to be sky high. And because of the way the buy back option is
written in the Master Agreement, we'll probably have to pay them to buy the
Arena from us at the end of the thirty year lease. So why not let the
City keep and maintain it, and they'll rent us the parking.
It's sad Ed, but nobody seems to understand it's all about parking.
Look at Reunion Arena, we own it, and most of the parking.
When it was built, all kinds of development surrounding it was promised.
Other than the hotel, what got built?
Look at the new Arena, we own it, and none of the parking. Which is perfect
for the Arena Group, with all their privately owned close-in surface
parking. Except, there isn't enough parking for most
events. This would be a problem for the Group, except you
just solved it for them. You gave them taxpayers' money to build a
garage for retail and residential uses. But let's say, just like at
Reunion nothing gets built; are you telling me the City would
stop them from renting out all that empty parking space they own, for the
City Arena that needs it?
I don't think so. Do you?
So, once again the Citizens of Dallas get taken for a ride, and the rich
get richer.
Which leads me to ask, what do you get Ed?
Just wondering...
Your friend
Frank M. Stich
|
|
|
