Where is the glass dome?
In the world of television there is a phrase that describes desperation and stupidity, the point where the show tips towards oblivion. That phrase is “jumping the shark”. This comes from the long running series “Happy Days” where in the final season the script writers were so desperate for a bit for sweeps week they had Fonzie (Catch phrase “Aaaay”) water skiing over a ski jump where he jumped over a shark.
In Knoxville City Government the equivalent of “jumping the shark” is, “Where is the glass dome”? This signifies the point in time when City Government (Catch phrase “If you build it they will come”) loses their ability to know when a project will work.
My only question for the South Knox Riverfront project is, “Where is the glass dome”?
All across America local governments are implementing impact fees so new development will pay for some of the new infrastructure costs. Not in Knoxville. Mayor Haslam has announced the first reverse impacts fees in American. The taxpayers pay for the roads, additional parking, parks, and greenways that the developer would normally pay for. So how will it be decided which developers win this taxpayer lottery and gets this special treatment? Good question.
The proposal for the South Knox Riverfront project works like this; TIF’s will be used for roads, additional parking, parks, and greenways. The infrastructure needed for new development.
You may ask why the Mayor would suggest TIF’s instead of bonds or more traditional financing methods. The City can’t. They already jumped the shark. All of the previous “If you build it they will come” failures make it impossible to use bonds. Even if they could be issued who in their right mind would buy them? The only avenue (suckers) left are the taxpayers.
Why do the developers that never win this lottery not sue the City? It seems unfair that only a very select few receive this benefit when everyone else has to do it the old fashioned way. The Robin Hood concept is supposed to work the other way around. Hint, you are supposed to rob from the rich and give to the poor.
The most obvious flaw in this plan is the needed 139 million dollars of taxpayer investment. Here is what supposedly the private developers will do in return:
2,500 new residential units
421,700 square feet of retail space
60,000 square feet of restaurant space
1 million square feet of office space
160 hotel rooms
225 marina boat slips
135,000-square-foot cultural/civic institution
700 garage parking spaces
790 on-street parking spaces
450 off-street parking spaces
11,750 linear feet of new roads
11,000 linear feet of improved roads
51.3 acres of new parks and greenways
1 whitewater kayak course
The whitewater kayak course qualifies as the “glass dome”. It is self-explanatory.
Is this as stupid as the Worsham Watkins glass dome for the Market Square? I don’t think so. More on the scale of Universe Knoxville but three times as expensive. Before the pack attacks and claims I am “an aginer” can we look at some of the really really stupid parts of this plan?
The 135,000-square-foot cultural/civic institution is completely asinine. Less than two miles away we already have one of those and it ain’t doing so great.
1 million square feet of office space will really help the downtown office market. I am sure that every building owner and real estate firm is just jazzed about this idea. That is enough for a 400 square foot office for each of the 2500 condo residents. Jump that shark Mayor.
421,700 square feet of retail space is enough for 281 trendy boutiques. The merchants on Market Square are going to love this.
60,000 square feet of restaurant space can provide 30 new restaurants to finish off the restaurants in Market Square and the Old City.
Let’s review, the City of Knoxville has spent over 280 million taxpayer dollars trying to revive and restore downtown Knoxville and NOW they suggest spending another 139 million taxpayer dollars to kill all economic activity downtown and move it across the river?
May I make a suggestion; shouldn’t we have a voter referendum on this rather than allowing City Council a few votes to make the decision?
Ask yourself these simple questions:
Is it the TRUTH?
Is it FAIR to all concerned?
Will it build GOODWILL and BETTER FRIENDSHIPS?
Will it be BENEFICIAL to all concerned?
