You’re about to be shaken down, as taxpayers, for Cordish Cos. and you know it. Metro Council knows it. Greg Fischer and crew want to give the company hundreds of thousands more to do what any other company could do without an $850,000 gift.
Kelly Downard and Brent Ackerson aren’t happy about it:
But during the hearing, Councilman Kelly Downard, R-16, admonished the mayor’s economic development team for failing to ask Cordish enough follow-up questions, adding it underscores what he calls the city’s one-sided relationship with the developer.
“Why in the world would you go forward based on incomplete information? Especially since to access the money there’s a requirement to have a copy of the lease. If you didn’t know who the tenant was we’re running out to get money and we don’t even know who it is yet we have to know by contract,” he said.
Government Accountability Vice-Chairman Brent Ackerson, D-26, says the city’s deal with Cordish is fundamentally flawed because it gives the developer too much important property under different agreements with little recourse or transparency.
“One person having multiple contracts where they control so much of this city’s valuable real estate is not a good situation. It does not promote competition and it does not promote true market values to what’s happening. The concern really boils down to we cannot allow one entity to monopolize what’s going on downtown,” he says.
Oh, and Greg Fischer is sorry, kinda:
Louisville Mayor Greg Fischer’s administration apologized for a botched loan agreement with The Cordish Cos.—the developer of Fourth Street Live—during a Metro Council committee hearing on Tuesday.
Click here to read the entire thing.
Meanwhile, Fourth Street Live continues to fail, isn’t utilized by locals, it’s riddled with crime and weird shenanigans and not even out-of-town visitors care to spend their cash on homogenized bars or whatever they are.