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January 26, 2014


The $2mil vs. $700-$800k bothered me too when I read the article. The take-away for me was that the $2mil would come back from the developer in the guise of fees/taxes/etc. If I understood this correctly, then I would suggest offering Mount West $800k for the property, then be glad that the city will gain $1.2mil in revenue in the future.

I had forgotten about imminent domain. Chances are that action would go to arbitration. Even if arbitration ended up below $2mil (which I think it would), it would be better than paying out $2mil outright.

One thing that might be a consideration would be the immediate use of the new park parcel for the Minto bridge project. If arbitrated, the parcel could be tied up for years, then setting back 2 very public-desired projects till who knows when.

I would love to just trust our city leaders, but it does seem to be happening very, very fast.

Re: the $2M. Councilor Bennett asked for some clarification on this point, and the answer was that because the issue of traffic access to the parcel had not 100% definitively been settled (even if it was a remote-ish possibility), the $800K park-only valuation was too low. On the other hand, because traffic access remained problematic, the developer-ready valuation of $4M +/- was high. $2M was mutually agreeable as a middle, compromise figure.

The City and Developer need to be in a marriage of convenience and Eminent Domain proceedings would poison that marriage and likely sabotage the whole project.

So there are multiple reasons - including public interest - for the parties to settle and find a mutually agreeable compromise.

Next up is the project bond discussion for the north parcel, including the nursing home, on March 24th.

It seems to me that raising questions about the nursing home is more constructive at this point than fretting over the overpay on the park block and subsidy for the south block apartments.

The nursing home is the real clunker in the deal!

Breakfast on Bikes... a non-religious AMEN, BROTHER! to what you said about the nursing home.

For one thing, is this the highest and best use for that prime close-to-riverfront property?

If I had to think, "What sort of use would do the least to make the Boise Cascade property a vibrant downtown location?", a nursing home would be a top candidate.

Come on... can't Mountain West Investment and the City do better than this?

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