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Wachovia South Tryon Projects

Southend

By Southend
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guy4charlotte Whistle-Stop

guy4charlotte

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I was bored, so I actually found myself watching News 14 today and they said that it was going to be in the House on Thursday or Friday. They also mentioned how the "little man" was left out of the decision as the car rental tax will hurt the lower class and help the upper class. You know, in a way, it's true. I never thought about the rental tax effecting anything except for renting a car for vacation. Then I realized that it also includes leases according to the people they were interviewing. I guess in a way that is renting, whether or not that part is true, I'm not sure. They also said congress changed the agreement from 3% to 5% behind rental car companies' backs.

According to channel 14, the bill was passed by the House Finance committee on tuesday (which is interesting since it was never on the committee calendar) so the vote by the full House on this could come any day now, but most likely thursday or friday. It has to pass two readings.

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rockhilljames Burg

rockhilljames

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"It is extremely important to our community," said Rep. Ed McMahan, a Charlotte Republican who supported the proposal. He said it will help ensure that Wachovia keeps its headquarters in Charlotte.

Wow. That should give some indication into what Wachovia was telling lawmakers regarding the importance of this project. I have a feeling that if this hadn't gone through, Wachovia might have decided to start moving some assets elsewhere.

I'm not normally for what some people term "corporate welfare", but these are projects that will raise the quality of living in town, increase the tax base, and ensure that Wachovia remains fully committed to Charlotte.

Whew.

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dubone Megalopolis

dubone

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Oh my gosh!!!!!!! That is awesome. For so long we've been speaking about this as a long shot, but now it has finally happened!

That means, Charlotte now has the right to fund the last remaining unfunded part of the arts master plan. Which means that there is no longer a need for Wachovia to be coy about their plans. Let's see some details now!

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Richhamleigh, DC Burg

Richhamleigh, DC

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Oh my gosh!!!!!!! That is awesome. For so long we've been speaking about this as a long shot, but now it has finally happened!

That means, Charlotte now has the right to fund the last remaining unfunded part of the arts master plan. Which means that there is no longer a need for Wachovia to be coy about their plans. Let's see some details now!

Dubone, these projects really are a big deal, huh?

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guy4charlotte Whistle-Stop

guy4charlotte

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Dubone, these projects really are a big deal, huh?

"The tax will provide most of the money for more than $150 million worth of cultural projects, including a new Mint Museum of Art, a new performing-arts theater, a new modern-art museum, renovations to Discovery Place and a new Afro-American Cultural Center." (Observer)

Not a big deal...A HUGE deal!!!! :yahoo:

This is as big, or bigger, than the NASCAR HOF.

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JerseyBoy Burg

JerseyBoy

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:yahoo::yahoo::yahoo: YES! I have a very strong feeling WE WILL see renderings before this week is up! Notice that on the bottom of the story that someone posted that the Observer said to look at tomorrows paper for more details. Could this be a hint to renderings tomorrow?
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jednc Burg

jednc

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Notice that on the bottom of the story that someone posted that the Observer said to look at tomorrows paper for more details. Could this be a hint to renderings tomorrow? (DaAchiever)

Not to dash water on anything...but the Observer Website always says that when a story is added as breaking news before the "final" story for the next day's paper is written.

Wouldn't it be great though if they did unveil everything tomorrow or at least this week?!?!?!

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JerseyBoy Burg

JerseyBoy

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Notice that on the bottom of the story that someone posted that the Observer said to look at tomorrows paper for more details. Could this be a hint to renderings tomorrow? (DaAchiever)

Not to dash water on anything...but the Observer Website always says that when a story is added as breaking news before the "final" story for the next day's paper is written.

Wouldn't it be great though if they did unveil everything tomorrow or at least this week?!?!?!

Oh sorry. I don't read the Observer hardly since i'm not a local but rather a transplant lol. :D Thanks for telling me though! :)

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dubone Megalopolis

dubone

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My favorite paragraph in an Observer article ever: "It Here".

So here is the deal, from my point of view. For at least half a decade, Charlotte has had a significantly ambitious plan for facilities to build uptown Charlotte into a hub of activity in its pursuit of the next level. That was the vision for what Charlotte's downtown should include in the year 2010. Many of these projects have been and continue to be extremely controversial, as they are forward looking, and possibly even a stretch for the city at its current size. In a somewhat conservative city, where most live in suburban contexts, these projects are considered by many to be frivelous or luxuries. It becomes even more complicated because many bread and butter governmental functions are underfunded by the state. Then becomes even more complicated because there are problems with the tax code that causes significant burdens as a result of growth, where there are spikes in outlay liabilities, but no corresponding spike in revenue collection.

However, despite that criticism and pressure from the chorus, the local leaders have continued to find ways to afford these projects. The projects include the arena, an uptown Mint museum, a new theatre, a children's theatre/library, an expanded African American Cultural Center, a light rail system, a convention center hotel, an expanded convention center, an uptown location for UNCC, and a large central park. All those projects are now funded (or most of the way to funding) and in progress, as well as a bonus project that came from left field, the Nascar Hall of Fame. Other projects, which were on the list at the time, include a Trade Street transit corridor, a baseball stadium, a renovated Carolina Theatre, and improved streetscape, bicycle, sidewalk, and automobile connectivity within the grid and across 277. Many of those are still being worked on, and are either close to funding or are being activity pursued.

Other goals have also been met, or are in the process of being met, from the private sector. Thousands of residences are being built by the private sector in all four wards uptown. Major retail is beginning to come either uptown or just outside of uptown. Hotels and offices are being built, despite an overall slump in those industries.

The arts master plan, although probably the least respected by the general public, is the project that plays the most into the goals to put the city on the next level. The key is to make the city a place that has sufficient facilities to attract and to satisfy executive level employees. The private sector is providing significanty for the arts, by either donating the art itself, or funding the endowment to support the operational costs. However, the city is now providing the capital funding to get these projects done. It is a true public-private partnership of the likes that the arena and the NHOF should have been. That model will certainly be the one used for the remainder of the non-transportation projects, such as ballparks, the Carolina Theatre, and the potential park in First Ward.

All in all, this marks the largest step forward in providing the cultural needs of Charlotte circa 2015, a city of [enter your inflated population number here], the economic capital of the Carolinas, the largest city between Atlanta and DC.

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turbocraig Burg

turbocraig

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Hmm... In today's updated article, it says the House had to vote on this one more time (so I guess when they reported yesterday that the Arts plan got final approval, they meant... well, I'm not really sure what they meant). At any rate, the vote is sure to come in close, if not identical, to what it was yesterday. But, the County Commission still has to rubber-stamp this before Wachovia can consider this a done deal. I'm sure the package will leap over the last two tiny hurdles, but it now has me thinking we won't see renderings till the County signs off. This article says Parks Helms says the County hearing/vote could come as early as next month. I'm betting Wach keeps a lid on this till after that happens.

http://www.charlotte.com/mld/charlotte/news/15026118.htm

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guy4charlotte Whistle-Stop

guy4charlotte

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the County Commission still has to rubber-stamp this before Wachovia can consider this a done deal. I'm sure the package will leap over the last two tiny hurdles, but it now has me thinking we won't see renderings till the County signs off. This article says Parks Helms says the County hearing/vote could come as early as next month. I'm betting Wach keeps a lid on this till after that happens.

http://www.charlotte.com/mld/charlotte/news/15026118.htm

I agree--although the change in State law will enable the county to fund the arts projects, technically the funding won't be official til the county approves it--WB could still go ahead and release renderings of the office tower/condo, but there would be a bigger splash if the entire package is unveiled at one time. Then again maybe WB will go ahead and release their plans to spur excitement for the project prior to the public hearing required before the county commissioners act on the arts portion.

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turbocraig Burg

turbocraig

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^I'd like to think we'd see some County-wowing/convincing media campaign before their vote, but Wach wasn't willing to pull out that stop for the Legislature; I doubt they'd feel the need to do so for the County. Someone mentioned that possibility in this thread a long time ago (prior to the Assembly vote) and Wach did nothing. I think it'll be a few weeks yet before we see anything, but I'd love to be wrong.

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guy4charlotte Whistle-Stop

guy4charlotte

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^I'd like to think we'd see some County-wowing/convincing media campaign before their vote, but Wach wasn't willing to pull out that stop for the Legislature; I doubt they'd feel the need to do so for the County. Someone mentioned that possibility in this thread a long time ago (prior to the Assembly vote) and Wach did nothing. I think it'll be a few weeks yet before we see anything, but I'd love to be wrong.

Well you have to remember that technically the legislative change enabling Meck Co to do this had to be crafted as a change in STATE law, since it could not be introduced in this year's short session as a local bill; therefore it's not like the bill they were voting on was called "Bill to provide tax support for Wachovia project-related cultural facilities" (even though wink wink that's what it really was)--point being it would not have been appropriate for WB to have pushed for this bill publicly by releasing renderings of their proposed bldg--also even though obviously they really want it as part of the entire project, the city's cultural facilities are separate from the WB office tower--they would have gone forward on their office tower with or without these facilities---someone else on here who said they had insider information had indicated that the renderings would be released around July 10 give or take a few days--I'm starting to think we will see something next week!

If you guys think that Wachovia hasn't been talking to county council...I mean REALLY talking with them, I have a feeling you're mistaken.

I think at both the local and state level, they've been lobbying very hard behind the scenes.

Very true--I guarantee they've shown those renderings to at least a few influential politicians (who were apparently pretty wowed by them!)

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guy4charlotte Whistle-Stop

guy4charlotte

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A friend close to me in life, and close to Wachovaya said that we can expect an official announcement from Wach sometime during the next two weeks. The announcement will include Renderings, a 3D flythrough, exhibit space plans, Condo tower renderings, the whole shabang. He said a more specific date would be around the 10th, but it could be earlier or later.

Here's the post I was referring to

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