More proof capitalism is dead in Bloomington

By:  Diane Benjamin

Remember the property Bloomington bought on N Main in 2016 for $1.4 million?  Tari’s buddies, Kirk Holdings, leveled the old Mennonite Hospital buildings.  Then the City bought it so nobody else could.  It has been sitting vacant and generating no tax revenue ever since.

Tuesday night the City is teaming up with IWU to market this property and two adjoining properties Wesleyan owns.  They want to list it with Coldwell Bankers. From the packet:

PDF page 154:  http://www.cityblm.org/Home/ShowDocument?id=21891

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The City has been unsuccessful in marketing the property themselves.  Even though they created a TIF to subsidize the development, no one has been interested.

The reason is likely because the City is telling developers what they have to build:

what to build

Bloomington wants to look just like Normal!  Free markets will not control what is built on the site.   Bloomington even wants to control who lives in their Utopian masterpiece!

I wonder what the sales price is going to be to get what Renner wants.  It will be interesting to see how much of your $1.4 million disappears in support of warped economic development dreams.

The anti-business climate in Bloomington continues.

Capitalism is only a dirty word to those who think government control is a better system.

How many examples of government failure do they need to prove they are wrong?

If a price is listed in the documents for the three properties, I don’t see it.  Coldwell Banker will get $100,000 if they sell it.

 

One thought on “More proof capitalism is dead in Bloomington

  1. knowing Tari that 1.4 million dollar property will go to one of his campaign contributors for a buck and a huge amount of tax abatements .

    Like

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