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Dear Mayor and City Council,
I see no reason to give Mr. Jordan two more years to build a bankrupt project. It should not be the council's concern that Mr. Jordan probably paid two much for the property and the project does not pencil out.
Here are some reasons to deny the extension:
1. Building cost have skyrocketed, will continue for years to come, and the council should consider whether Mr. Jordan has the financial capacity to complete the project.
2. Mr. Jordan redesigned his project from a 2 story building to a 3 story, 3 building 81 unit apartment that he knew would generate considerable community opposition, a potential lawsuit and eventual delay.
3. Mr. Jordan moved away from a profitable 2 story project to an unprofitable 3 story project in an attempt to punish the community because they did not welcome his project with open arms.
4. Mr. Jordan has changed the scope of the project from senior housing to market rate apartments.
5. The state wants the city to approve viable projects that can and will be built in a timely manner to increase the housing inventory.
6. Approving this extension and tying up these parcels for two more years with a bankrupt project project will exclude another developer from coming forward with a viable project that can be built within this time frame.
Bottom line, City Council should deny the extension and move on to another developer.
Enough is Enough!
Bill Walcutt
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