in the post was this
"Item #31 from Greensboro City Council agenda with attachments for September 13, 2011 meeting:
Resolution authorizing Economic Development Incentive Grant and Loan, not to exceed the amount of $4,176,775 in total, to Land Port Investments LLC to be funded by appropriating uo to $4,176,775 of voter approved Economic Development Bond funds. (no attachment) COUNCIL IS BEING REQUESTED TO POSTPONE THIS ITEM UNTIL OCTOBER 4, 2011 MEETING OF COUNCIL< WITHOUT FURTHER ADVERTISING.
So who is Land Port Investments LLC? CLICKHERE none other than our Guilford County CRONY CAPITALIST Roy Carroll.
Now this past week we learn from the Triad Business Journal and Owen Covington with a blog post titled "Greensboro Moves Ahead with 'Shovel Ready' Loan Pool" . In the article here is what was said
Scott said city staff has had discussions with three developers interested in tapping into the fund, which he envisions being used to develop four pads for buildings with between 250,000 and 750,000 square feet of space. Scott declined to specifically identify the properties or the property owners, but said all three sites are in eastern Guilford County, with two on the Interstate 40 corridor and the other on the U.S. 29 corridor
Developer Roy Carroll said in October that he was interested in working with the city to secure funding to prepare a 100-acre site at Knox Road and Interstate 40 for construction, but declined to comment further at this time.
There’s speculation that the other two locations include a site with Rock Creek Center at Interstate 40 near Rock Creek Dairy Road that is managed by Simpson Schulman & Beard and a site adjacent to U.S. 29 near Reedy Fork Parkway owned by Reedy Fork Associates, which was formed in 2000 as a partnership between Greensboro’s Starmount Co. , Winston-Salem’s Hubbard Realty and the D.H. Griffin family.
Then in this article Dan Lynch from the Greensboro Economic Development Alliance had this to say;
"said forming public-private partnerships to develop large-scale sites that are ready for construction is almost a necessity given the upfront investment required and the financing challenges for private developers in today’s economy"It must be real tough for local developer Roy Carroll who just gave a million dollars to Greensboro College to get financing but am sure that he needed to do this gift now to Greensboro College before he went in front of council to get this taxpayer funded money. Can you imagine if he got this shovel ready approved with taxpayers dollars then sent a $1 million check to Greensboro College that would not look good at all.
When Roy Carroll's neighbor in center pointe is the Mayor of Greensboro then i am sure this will get passed with flying colors and a few years down the road the Mayor of Greensboro will be the leasing agent for properties all over Eastern Guilford County .
Stay tuned for more in future because there is also a new joint water and sewer deal for a complete hand out to certain developers going on in this part of Guilford County.