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Meanwhile, back in Levy

To leap from torture to the North Little Rock City Council is a little head-spinning. But the Levy Project is up and running with full blog coverage of the NLR Council last night. And there's news. Commodore Pat Hays apparently has plans to add another water craft to the NLR fleet -- a Corps of Engineers tugboat.

Money apparently grows on trees in North Little Rock. The tugboat maintenance will be peanuts compared with the $6 to $8 million in road improvement money His Honor said the city plans to chum up to subsidize Bruce Burrow's shopping center in Dark Hollow. This is in addition to $400,000 to $500,000 a year in property taxes that will be diverted from city and county and Children's Hospital uses to pay for Burrow's infrastructure work.

 

Comments

I heard we're not going to get that Bass Pro Shop after all.

So when will Commander Hays have his full armada ready to invade Little Rock?

Probably when I am broke from paying all of the overpriced NLR electric bills that he could have fixed if he were not so busy creating his empire at the expense of the citizens of NLR. That money that he is going to waste on another pointless boat could go to give our overworked, underpaid and understaffed police and fire departments some well deserved raises and some coworkers. Or 9,000 other things that I can think of, but he is more interested in himself than the people who put him there.

I hope the dissatisfaction with NLR City government turns into some new faces at ballot box. We have several new city council members, but not anyone who wants to challenge Hays to be Mayor and lead NLR to glorious perfection? It could be worse. You live in Sherwood...

Well ArgentaGirl, you may be right, but I wouldn't recommend standing out there in the way come the first week or so in September. Word I hear is that they close sometime in late August and start turning dirt in September. Folks around here can expect to buy 08 Christmas presents in a local Bass Pro. Shortly after that, you will have 18 new Rave screens, lots of new restaurants, book stores, etc. However, there won't be a new Dillard's or Penny's. In other words, new businesses with new sales tax dollars, or so it seems.

well, al, nlr already has several movie theaters so nix there. also, have several hunting supply and sporting goods stores, so nix there.

have lots of resturants and lots of bookstores so nix sale tax there too. as i've heard and agree, it'll likely be a wash. e.g all the benefits they'll recieve from the city in the form of improvements and tax incentives related to the increase in likely sales tax revenues. dont' buy BassPro #'s, they've never held up.

regardless, i don't like the govt involved in the subsidation of businesses. that ppty is on the busiest stretch in the state, (I-40-30 interchange). When it's economically feasible then development should go in. that's called commerce and free enterprise. instead, burrow and associates is stealing from kids by locking in ppty taxes at the '07 rates and increases going back to themselves through the TIF to pay off any bonds or indebtiness.

Funny thing i heard is that Burrow actually bought his own bond issuance in Jonesboro for the mall there. Interesting thought there.

So...you issue bonds for debt that is then in turn paid off to yourself by the increasing ppty valuation and in essense subsidize yourself by paying off your own bond instead of directing money to kids and schools. talk about having your cake and eating it too.

what's even funnier about that whole set-up is that if you have enough money to buy your own bond issuance you don't need the damn TIF to begin with.

Speaking of the NLR Navy, the spouse & I were at Riverfest Sunday afternoon and there was a chain across the walkway leading to the submarine with a "closed" sign hanging from it!
Who's brilliant idea was that? Thousands of people from around the state & elsewhere walking around the riverfront looking for things to do and places to spend money with our mightiest WWII attraction out of commission on MEMORIAL DAY WEEKEND! No telling how much money that might have brought in to the city's treasury over the weekend at a $5 per head walkthrough tour! Who's boneheaded idea was it to make the boat off limits for Riverfest?

I feel sorry for Sherwood. They buy their electricity from north little rock after Hays adds on a little handling fee on top of the already high rate. So I guess Sherwood is helping him arm his fleet too.

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