December 23, 2009

Major Taylor Boulevard Build-up

I watched Council last night about the new RFP for the commercial space and how there would be up $250,000 in loans available to the winning bidder to do the build-out. Not sure if I like this idea.

Let me explain, We have done this twice at Union Station and both restaurants failed owing the City of Worcester money. True, both have been replaced by realtively (I think) successful new businesses. Does anyone know how much money is owed, however, on these prior loans? Did the new tenants take over payments? I do not know the answer to either.

Councilor Palmieri suggested that the loan was good and would help spur economic activity. I agree, the loan does spur economic activity so why not offer to any business looking to do a build out? The reason we are doing these loans for Union Station and the Major Taylor parking garage is because these are city assets and the city is trying to get tenants to help pay down their debt. Imagine the commercial spaces for the Union Station parking garage will be next.

In the end I do not think the City of Worcester should be giving out loans to businesses to do build-outs, just like we should not be in the airport business. Micro-loans for facades/storefronts should be the extent of the City of Worcester's lending portfolio.


signman said...


kudos to Kate?? That is the problem with this council... they do not worry about it's currant businesses... if they did they would have businesses flocking into the city why would anyone come the way they treat us now... they need to worry about us as much as they do lo income housing....

Jahn said...

Not to mention we now have the city (government) competing with private, commercial, retail landlords who have retail space available.

It's almost deja vu all over again with what the governemnt has done to private residential landlords with CDC based NOLO housing constr. in Worc.

Is the 1st floor of a parking garage on a main thoroughfare in Worc really the right location for a restaurant. Can you say Ambiance??

In keeping with the tradition of The Hand It Over Theatre......should the city also subsidize the parking for this new dining adventure?.....a la teh Federal Sq Parking Garage.......hey what's goood for The Hand It Over Theatre is good Worc's newest re-incarnation of the Boulevard Diner....right?....Major Taylor Blvd Diner that is.

As they used to at the Blvd Diner back when I ate there at 200am on Sunday mornings......"Gimme and order of spaghetti and dress it up with a pair of ++++s". ..... Classic Worc. Late night dining vernacular