03-11-2015, 11:40 AM
(03-11-2015, 10:22 AM)zanate Wrote: What a fantastic opportunity to correct a mistake, preserve the Iron Horse trail alignment, and shape a better development plan for the mud parking lot.
Also a risk. Mady added a lot of lipstick to their porcine plan to make it acceptable to council in the face of stiff public opposition. But, if the land swap has already taken place (has it?) a new developer may come in with their own potbelly and not bother even with the lipstick.
I expect that that ship has sailed. The value of the land has likely gone up since the City swapped the land. The only way that the City would end up with the land would be if there were back-taxes and fees owed that were greater than the value of the land itself. I expect that you'll see the land sold to another developer and the proceeds used to pay off the various creditors including the City.