Pretty pictures, indeed
The three proposals opened Tuesday for the redevelopment of Tropicana Field in St. Petersburg contained many graceful and attractive artist's renderings. All three proposed some graceful mix of retail, office, residential, green space and public use.
This is all well and good. I'm not a naysayer trying to stand in the way of "progress," as some folks characterize the plan's skeptics. But I HAVE spent my entire career watching cities get carried away with pretty drawings and promises in projects such as this without doing their due diligence.
Two points have to be stressed over and over:
(1) By themselves, these proposals mean nothing. Zip. They can promise all the neat stores and X number of jobs and X dollars in economic impact that they want. What matters is the contract that the city enters into. What teeth will the contract have? What guarantees will there be if the goals of the contract are not met? The contract itself is not the guarantee. And neither is a simple "reverter" clause saying that as a last resort, the city can taken the land back. That is a "nuclear option" that does the city little good, as a practical measure.
(2) None of these ideas pays for a new baseball stadium -- not yet, anyway. And that is the entire purpose of this project. The Hines proposal is for a purchase price of the site of $50 million, and even that phased in with dribbles and drabs -- much less than any sale figure I've heard bandied about. The Archstone-Madison proposal is not even for a sale, but just a lease. As for the Williams Quarter proposal -- pretty drawings now, we can talk about those pesky little business details later. All of the grand estimates of tax revenues that will be generated might work, but again, there have to be guarantees.
On top of this, the Archstone proposal calls for the taxpayers to pay for the destruction of Tropicana Field, which I thought was pretty much the purpose of hiring a developer. Both the Archstone and the Hines proposals say the taxpayers will pay for any unexpected costs of environmental cleanup. That is a reasonable position for the companies -- but it will be UNreasonable for the city to agree unless it is entirely sure of what it is doing.
I will be curious to see whether the city continues to take these proposals at face value for as long as possible, choosing one of the developers and only then getting around to the nitty-gritty business details.



















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