Nick K has some details today in the Telegram, click here.
As I have been saying for months, or is it years now, I believe MassPort will completely turn ORH around. At the same time, I have been saying that we are leaving monies on the table. I fear alot more monies that I actually thought. Never heard of an asset being sold for based on your costs to carry the asset the past 6 years. In the end my gut tells me the City of Worcester is going to end up getting alot less for ORH then the Mass School of Pharmacy just paid the Crown Plaza (16.8 million).
I can understand the part about the "the airport could not be structured as a traditional real estate asset deal", then maybe we should have looked into a 99 year lease like Stewart International did when they lease their airport for 99 years to National Express in 1998 for 35 million. It all goes back to when a group of us submitted a letter to the Airport Commission 4 or 5 years ago telling them to privatize the airport. Translation--put out an RFP to lease out the airport. This was dismissed.
Again Massport will be great for the future of ORH, but we are going to be dumping this asset way below what we should have. Jahn, I bet the Crown Plaza will end being sold for more then ORH.
WRRB/Telegram District City Council Forum 10/18
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This forum is for all district council candidates; all candidates are here
today. Format: 14 total questions, 4 questions across districts (for all
candida...
6 months ago
2 comments:
Hey, I am no para-mutual fool. What kinda odds you giving me?
Plus I can always pull a Dwight and not pay up... I know you dont break kneecaps....or was that paid in full?
For the 101st time, this sale of the aero-port keeps politics in the mix which means the city can still run interference if all of a sudden we have 15 or 20 daily large jet flights per day landing up there and the people who have moved into that area in the last 2 decades start complaining. I mean just look at what these anti growth advocates are sceaming about over on Grafton St re: CSX and that is expansion is right smack in the middle of an existing run down industrial area.
Off topic here but should Clark Univ as a gesture of goodwill pony up 10% of the $14M they were just gifted to city businessmen to offset their real estate tax burden?
Jahn, I plan on paying my debt when the wrecking ball swings. That way, I can still celebrate a win even though I lost my bet with Bill.
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