A Change of Plans

Well, really only a change of one item in one part of the plan. But this is, after all, the key to the triggerlock on the gun that may someday be fired at the starting line. It's promising to read that the reduced expectations for securing future tenants before starting demolition has gotten a "preliminary" nod. And it was also encouraging to read a few days ago that Mayor Konnie Lukes spoke about this whole thing with such a positive tone.

What's truly bothersome, however, is that the reduced requirement, apparently, still isn't low enough to begin tearing down the mall immediately...

Timeless quote: “It’s really time now for Young Park and Berkeley to deliver on their end of the agreement in securing these leases so this project can go forward,” Mr. Murray said.

As I recall, the beginning of this saga was a lot less complicated, and it was going to be entirely financed by Berkeley for a projected cost of $300 million. It was very clear back then that Berkeley planned to tear down the mall. But after a few months, the city began injecting all of the "creative financing" that has, demonstrably, put the brakes on this project for the past four years.

I have long suspected that the only reason this project didn't move forward after 2004 is because the magic of public funding practically doubled the project's anticipated cost, and added so many conditions and "protections for the taxpayer" that City Hall has effectively produced nothing more than a demonstration of why government should not be helping private enterprise.

Of course, the city neglected to secure leases for undeveloped parcels around Washington Square before moving ahead with that particular project. But we never could've expected them to have been willing to hold up a project with such restrictive conditions when the bright idea was all theirs, now, could we?