Taxpayer Money for Dead Malls?
Well, they’re at it again. Today, the Charlotte Observer reports that this coming Monday, the Charlotte City Council will once again discuss purchasing the old Eastland Mall property. Having flushed millions down the toilet in 2009 debating the very same thing, the City Council is ready to waste yet more of your taxpayer dollars on crony capitalism.
The rationale behind this latest urge to spend taxpayer money on a dead mall is that the vacant stores inside the mall are owned by several different companies, all of which have the right to veto any particular use of the mall property. This supposedly makes it difficult for any private party to buy the mall property and redevelop it. The solution, according to the City Council, is for the city of Charlotte…that means you, Taxpayer…to buy up the whole thing and then re-sell it to a private developer, acting as a middleman.
We’ve heard this song and dance before. Any time government gets involved in the private sector, the result is always graft and corruption. The likely outcome of a city purchase of the Eastland Mall property will be reselling the property to a politically-connected developer with the stipulation that the developer turn the mall into one of the much-vaunted “mixed-use” developments, cramming urban housing, office space, and retail space all into one location.
Please go to http://charmeck.org/city/charlotte/CityCouncil/MeettheCouncil/Pages/home.aspx for links to contact info for the individual City Council members and mayor.
NC State Coordinator
Campaign for Liberty
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