A nearby property engineer says Sudbury city board left him, and his fantasies of downtown living, without a friend in the world.
Greg Oldenburg, proprietor of the Brewer Lofts on Lorne Street, was turned around the city in his demand to get to reserves from the Downtown Community Improvement Plan, or DCIP, to change the old bottling works into townhouse units.
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It was a $9.5 million demand by Oldenburg, and inevitably the precarious sticker price was what influenced board to bashful far from the undertaking, said Ward 5 councilor Robert Kirwan.
“The most compelling motivation we couldn’t bolster that business case was that we don’t have that sort of cash,” Kirwan said. “It would have taken a 3.8 for each penny charge increment only for that business case.”
What’s a DCIP, at any rate?
The DCIP is a pool of assets put aside by the city to help entrepreneurs with revamping or enhancing the exteriors of their properties.
Comparable assets are accessible for other town focuses, and have been utilized with some measure of achievement in the Donovan and Chelmsford, city organizer Jason Ferrigan said.
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Oldenburg said he agreed to all the city’s solicitations, studies and plans en route before applying for the DCIP, contributing one million dollars of his own cash.
“Each progression en route I’ve burned through cash and cash and cash, and give reports, gave every one of the appropriate responses, checked all the containers, did everything that arranging staff did,” Oldenburg said.
“I sense that it’s right around a shell diversion that I’m playing where toward the end, the house has the cash and they’re not satisfying the very orders they set up.”