"Navy critical of plans for base; Delays prompt pointed inquiry" by Casey Ross, Globe Staff | May 29, 2009
Another sign of disarray in the massive redevelopment, in which officials have proposed converting the base into a $1.5 billion minicity called SouthField, which would include more than 2,800 housing units, a golf course, a sports complex, and 2 million square feet of stores, offices, hotels, and possibly a movie studio.
WTF?
I'd really not have Hollywood ripping us off anymore than they already are.
Also see: What Is Wrong With Hollywood
In response to the Navy's criticism, Tri-Town Development Corp. blamed the delays on its private-sector development partner, LNR Property Corp., a Miami real estate firm known for building large housing communities across the country. And LNR, in turn, pointed the finger back at Tri-Town. Both essentially said the other has failed to do its share to move the project forward....
The bickering between Tri-Town and LNR is threatening to scuttle the project altogether, said state Representative Ronald Mariano, a Quincy Democrat who has been a longtime supporter of the project....
Why does that name sound familiar?
Mariano is lobbying the Patrick administration for money for a $60 million road to connect the base to nearby commuting arteries. He said it's harder to make such a case when it's unclear if the development team can proceed with construction.
As if the state had money to spare for that!!!
Anybody tell this guy we are running a billion dollar deficit?
"As someone who wants to continue to put public money in this project, I'm going to be watching it carefully to make sure the state's investment is protected," Mariano said.
A spokeswoman for Governor Deval Patrick said the administration is now reevaluating its promise to provide $42.5 million in bonds to help pay for the road across the development site. Patrick spokeswoman Cyndi Roy said the administration must recalculate the amount that can be borrowed because of the declining real estate market, which will make it more difficult to generate income to pay off the bonds.
Yup, STATE GOVERNMENT is a RACKET to GIVE MONEY to BANKS in the form of INTEREST!!!!
Roy affirmed, however, that the governor remains supportive of the base redevelopment and will even consider using federal stimulus money to help fill gaps in funding for the connector road....
At this point, I wish they had just kicked back the taxpayer's money to the taxpayer instead of borrowing for garbage.
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