Okay, okay. Calm down. We’re going to talk about the landmarks shenanigans.
Here’s what Greg Fischer had to say in a recent letter to Metro Councilcritters:
The landmarks process is not perfect. A recent example is the Bauer site on Brownsboro Road (formerly Azalea restaurant), which was planned to be a new pharmacy and other retail shops until some citizens advocated for, and the Landmarks Commission approved, designating the property an historic landmark. Our city — and the property owner — now have a boarded decaying structure rather than a vibrant new center delivering services and creating jobs.
Reality couldn’t be further from the truth.
We hear through the grapevine that the real reason the deal fell apart is because Rite Aid was trading as a penny stock at the time. Once a deal was put together with the Bauer family allegedly financing the construction of the Rite Aid building and then offering a lease, Rite Aid backed out. Because – get this – it was trading as a penny stock and couldn’t hold up its end of the deal.
You can’t negotiate with a penny stock company expecting it to be able to perform like woah.
That doesn’t mean the Bauer Family is bad news bears. This city should be thankful they went so far and offered such compromise.
But Greg Fischer is full of it if he wants to continue harping out such extreme misinformation. The deal had little to do with what he claims.