Thursday, April 30, 2009

Roy Carroll Local Developer Wants To Amend Parking Deck Agreement with City of Greensboro

Local Developer Roy " North Carolinians for Leadership in Government Political Action Committee" Carroll and his company Park View LLC has brought this item below for the Greensboro City Council meeting next week on May 5, 2009 and will probably see Greensboro City Council member Robbie Perkins have to recuse himself on this issue because his company is the leasing agent on the property known as Center Pointe CLICKHERE. Check out the picture above of the cozy relationship between Greensboro City Council member Robbie Perkins and Roy Carroll which was talked about last year at this post CLICKHERE with a title "Robbie Perkins and Roy Carroll are ethically challenged".

If you want to see the whole agenda for the Greensboro City Council click on the title above.

Below is a part of the agenda for the Greensboro City Council meeting for May 5, 2009


19. Resolution authorizing First Amendment to Bellemeade Parking Deck Agreement
with Park View Development, LLC. (roll call vote) (Attachment #19 to Council

Purpose: To amend that parking agreement entered into between the City and Park View Development LLC, dated November 21, 2006. The current agreement allows Park View or its assignee to use up to 170 parking spaces for a term of 30 years. Park View has the right to terminate the agreement after seven years, provided Park View must pay for a minimum of 100 parking spaces in the Bellemeade Deck for a minimum of 84 months.At current parking rates, that would aggregate $420,000 during this seven year period. The requested amendment would allow Park View to pay for a minimum of 50 spaces until the total parking fees aggregated the amnount of $425,000. Park View will retain the right to increase the number of spaces up to 170.

Background: The City authorized an Urban Development Grant Agreement for economic development, on May 16, 2006, with Park View Development for the development of what was then known as the Wachovia Building at 201 North Elm Street. The City's grant to the project was agreed at $1,100,000. This grant is not payable at this time since the project is still in the development stage. On June 20, 2006, City Council authorized the parking agreement to facilitate the grant agreement. The parking agreement, among other things, allowed the City to recoup the cost of the construction of a crosswalk between the "Jefferson Pilot Deck" and the Bellemeade Deck. The cost of the crosswalk was $168,997. The additional $5,000 dollar payment by Park View is to cover the cost of advertising and consideration for the anemded agreement.


Here are a few questions and observations to ponder.

#1 It sure is a coincidence that this item comes in front of council the week Center Pointe from Park View LLC is open for business and getting all the press ,check out this puff piece from News 2 who was there all morning CLICKHERE ,video is on right.

#2 Only paying for a minimum 50 spaces cutting this agreement in half must show the overpriced condos are not selling.

#3 How did the parking agreement facilitate the ecomonic grant for a crosswalk?

#4 What advertising did Parkview LLC get for $5,000 and who approved the advertising on the crosswalk?

#5 This agreement gives Parkview LLC till forever to pay back this agreement of $425,000, there is no timetable for them to pay this off. It takes the 84 months out of the agreement.

#6 According to the Greensboro City web site it cost $75.00 for a reserved space at the bellemeade deck and $50.00 for a general area space. Is the tenants of Center Pointe getting a reserved space or a general area space?

Just a few questions to ponder and am sure there will be more questions in future.


Anonymous said...

Roy doesn't want his slow sales to be measured every time someone parks in the garage and notices empty spaces all around.

Does the city get a rebate on the $1,000,000 tax credit they gave him for this project if the sales are slow? It's not like he's gonna finish every unit and pay taxes on them while waiting for them to take years to sell.

triadwatch said...

anon, no that money will go towards his penthouse. Let's see if News 2 will show the taxpayers of greensboro and Guilford County who both paid for this project, how their tax money was spent.

Also the amended parking agreement took out the 84 months to pay for parking, he could pay this over 100 years if need be. Will see the lovefest with Roy Carroll on tuesday with his attorney King Zoning Stud Henry Isacson.