Good riddance, but it’s cost us two years. Plus we’re in much worse shape than five years ago when GM announced it was closing the plant. The plant’s been closed two years now, and the local, state and national economies are in tatters.
The situation is distressing, but the optimistic can take refuge in DeKalb County Commissioners and taxpayers recognizing New Broad Street’s mismanagement and/or greed. This screed vents about New Broad Street, but the handling of the circumstances is also Strike 2 for DeKalb County CEO Ellis. (Strike 1 was the CEO’s early retirement program that paid 800+ employees to leave, yet the County is hiring and training to refill everyone one of 200+ early retirement public safety positions, and hiring to refill 200+ other early retirement vacancies.)
The AJC reported New Broad Street’s purchase agreement cut GM out of negotiations in connection with a last ditch attempt by GM for bond money with New Broad Street out of the picture. GM has been a good corporate citizen and has a stake in responsibly disengaging itself from the property. GM could perhaps have been a positive influence in earlier negotiations—New Broad Street mismanagement and/or greed.
The New Broad Street-County negotiations process was conducted in the dark. New Broad Street privately negotiated a deal with the CEO over the course of many months without ever directly engaging the County Commissioners and City Council that would actually have to sign off on a deal. I pay attention, and I don’t recollect any publicity concerning the negotiations, let alone the amount, until this past Spring. That was a mere two months before the deal was supposed to be sealed in late June, even though $36M in stimulus bonds had been in the picture since last year.
Even with the deal ready to be done, there wasn’t any widely public conceptual site plan or detailed accounting of how the money would be spent. Apparently the plan was to rush stakeholders to accept the deal at the last minute because the clock was ticking. It would have cost, what, $200,000 for minimal public engagement concerning a hundreds of millions of dollars development?—New Broad Street mismanagement and/or greed.
For the record, I support tens of millions of public investment in redeveloping the GM site. An order of magnitude estimate in providing direct access to the MARTA station from the plant site, and groundwork accommodating possible I-285 transit and passenger rail service operating on the Norfolk Southern (NS) track or right of way, would start at a few million. Providing road access between New Peachtree Street and the site (under MARTA and NS) would start at an order of magnitude $10M. (Not saying this is required, only offering it as an example where public investment would be warranted.) Millions more would be required to spruce up Motors Industrial Parkway, establish access between the site and Peachtree Road, and for various other road and utility changes and improvements around the periphery of the site. The above approaches $20M without really directly investing in site redevelopment.
I was opposed however, to the manner in which the public funding was being handled. Decision makers not directly engaged, public in the dark, and seemingly a $36M check to a private for-profit entity to engage in speculative building as it saw fit.