8/19/09

Urban Loop


City officials want to know if they can speed the Urban Loop toward completion by lending the state about $30 million.


 


The loan could come from unspent bond funds that voters approved...


 


The state would be asked to repay the loan with interest.


 


State government is facing huge budget deficits…


 



If the City of Greensboro’s budget cut police training, suspended its 25-year-old Bookmobile service to 67 daycares, and saved $3.2 million by cutting jobs and eliminating merit pay for city staff, why would who want to lend what % of the city’s reserves to a state with a $4.5 billion deficit, to purchase who’s real estate for how much for when?


 




The council discussion Monday focused on using the city money for advance land acquisition. …others were wary about making deals with a cash-strapped state government.


 


“Even if we have it in writing that the state would pay us back, the state is looking at a major shortfall. Is it possible they could renege on that? I’m not against it, I am just saying. Do we want to put ourselves out there?’”


 


Councilwoman T Dianne Bellamy-Small


 


City may loan DOT $30 million for Urban Loop


Amanda Lehmert and Taft Wireback


Greensboro News and Record


2 comments:

Fec said...

Wake up, sunshine. It's been down to $15 million for several weeks.

Abner Doon said...

Should a direct quote be altered? If $15 million less is not spent as $15 million is borrowed to buy artificially inflated real estate, will the elected leadership tell their constituents they "saved money", by borrowing less than initially proposed from the community's children? At the moment, $0 may be an appropriate amount.