Washington City Council pulls the plug on downtown housing project | Eastern North Carolina Now

    Publisher's Note: This article originally appeared in the Beaufort Observer.

    The Washington City Council, meeting in its regular monthly meeting Monday night (1-9-12) declined the offer of Landex to participate in the re-development of the Hotel Louise and the Belk Building in downtown Washington. You can read an earlier article for background by clicking here.

    You can also review the agenda background material on the project by clicking here beginning on page 41.

    The numbers had changed between the two sessions, but the basic idea was the same: Develop two historical buildings by pulling several sources of funding together via what the spokesperson called "a partnership."

    After a long and exhaustive presentation with considerable discussion the council voted, without dissenting vote, to decline to participate.

    You can watch the entire presentation, discussion and vote in the video clips below. The final vote is in the last clip. In the end it appeared that "the numbers" simply would not work for the City.











    Commentary

    As we opined when this project was first proposed, the City should not participate in it unless it pays for itself. What we meant by that was that it should be a good business deal for the taxpayers of the City. It was not.

    As the council reviewed voluminous materials and heard vigorous arguments in favor of the project it became clear that the numbers simply did not add up...for the City and its taxpayers. In the final analysis the cost of the project greatly exceeded the utility of it. Ten million was just too much to spend on so few--and such small--apartments. The risk would have been unconscionable.

    Fortunately the Mayor and Council worked through all the information and clearly carefully considered the complex deal. And in an exemplary manner every member of the council and the Mayor contributed to a solid group decision.

    We were impressed. This is, in our judgment, the way government should work. Doug Mercer did his usual careful and exhaustive empirical analysis and presented his work in a brilliant and articulate manner. But then each and every member contributed. We were delighted to see Richard Books in his gentlemanly, low key manner go right to the heart of the issue: Landex had no money in the deal. And Bobby Roberson was wise to champion fiscal responsibility in relation to the House Authority.

    In the end, the right decision was made in the right way, thanks in large measure to the leadership of Archie Jennings.

    Orchids to them all.