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Homers -- What's going right
The Gazette Opinion Staff
Dec. 23, 2012 11:10 pm
WESTDALE DEAL: Finally, what appears to be a solid plan is in place for the half-empty, long-struggling Westdale Mall. A group of local investors led by Realtor Scott Byers is buying the 33-year-old mall from out-of-state owners. And John Frew, who is the project manager for the city's hotel and convention center projects, is the developer who will convert the Westdale property into a multiuse mix of housing, office, retail, park and trails, while the two anchor stores remain. Yes, tax increment financing (TIF) incentives from the city are part of this deal: about $15 million over 12 years. The developer must invest at least $90 million. If the project succeeds, it could yield long-term tax revenue benefits and restore the aging property's economic vitality.
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GOING UP: The state's 12-month average for housing construction permits rose in October to its highest level since May of 2008. Several Corridor contractors say there is a home building recovery under way.
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DOOMSDAY NOT: The much-publicized end-of-the-world predictions for Dec. 21 didn't hold up. Whew! Now if we could just focus more on building up our communities, states and nations rather than feeding doomsday fever.
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