"2 developers ask Greensboro for site-prep loans
Two developers are angling for about $1 million each in loans from the city to prepare land for new businesses.
Samet Corp. and Windsor Development Group want the money to improve land with the hope of luring new corporate or industrial clients.
Combined, the two want nearly $2 million. The council set aside $1 million for the program this year.
Councilman Zack Matheny, chairman of the council’s economic development committee, said he will ask his colleagues to increase the program’s budget and give each developer $600,000.
“At what point are we going to invest in our community and create shovel-ready sites that we have heard we need?” Matheny asked. “These are viable proposals with local owners.”
...If the council approves Matheny’s plan, the developers would get the loans at 1.38 percent interest. The developers won’t have to pay the interest for five years or until the property sells, whichever happens first.
Samet is proposing to build a 38-acre property... It isn’t within the city limits but could be annexed into Greensboro.
Samet officials said the land needs a sewer lift station, grading and other site work...
...Windsor proposes to spend $1.03 million for grading and to bury overhead utility lines to improve the appearance.
The city gave $1.08 million four years ago to ready the park for development.
The council’s decision on whether to pay for the projects comes three weeks before the City Council elections.
Both developers are campaign donors.
Samet President Arthur Samet gave $250 to Matheny and to Councilwoman Nancy Hoffmann. Company co-founder Norman Samet also gave $250 to Hoffmann.
David Howard, a member/manager of Windsor Development Group, gave $500 to Mayor Robbie Perkins."