Thursday, May 05, 2005

How To Make Money In Real Estate!

Ok, follow this. Have the Town pay $1,000,000 for a parcel of real estate. Then have them give it to you. Then, submit a plan that doesn’t follow code for height or set-back so that you can maximize your profit. That gets rushed right through planning. Let the Town have some of the space so that they can give it to a local art group. Remember, the Town said they were going to “give” the property to an art group. Rent your space as the popular new downtown local, even though there are 10-15 empty stores downtown, and feel blessed you have friends in high places.

Now, as to the art group; the Town says they will give them the space they promised, just as soon as they come up with $1,000,000. So, the art group says, maybe we can do that, but we need the $500,000 seed money that you are holding for us. Well, silly, the Town says “no way” we spent about $100,000 of that and have needs for the rest of your money so you best start over.

This story is just one example of why our Town Trustees can’t be trusted. They have set themselves up as the privileged class, able to bend the rules on any issue while the rest of us can’t catch a break. Did you notice they took the “Municipal Office” sign down from the municipal building? Rumor has it they are going to replace it with “Private Club.”