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The City View Two
King Neptune, King of Crony Capitalism.
The City View Two $10.2 million give away of taxpayers’ money to developers for high-density apartments, office, retail, and hotel when there is no free market demand should be rejected by City Council.
Drive VA Beach Blvd and see all the office and retail for lease. No taxpayer rebate of their respective property taxes.
Right in the Vice Mayor’s and my backyard, there is high-end space for rent and a brand new all brick high-end office going up. No taxpayers’ subsidies.
I have previously addressed the bounty of apartments available.
So why the give away of taxpayer’s money. Follow the special interests’/developers’ connection to the campaigns of council members and banking connections – another Mayor abstention. You can fill in the blanks.
The City View Two proposal is an assault on good governance and is blatant pandering to the politically connected at our expense.
The public push back has to be broad based and forceful. To remain silent is to invite greater misuse of our consent by City Council at our expense going forward.
Further proof that the City View Two is corporate welfare/crony capitalism/raw politics
Suburban Capital is proposing to develop a Hyatt Place hotel – 5 stories, 137 rooms at the corner of Independence Blvd and Broad Street within the Pembroke SGA.
The development is by-right. They have met with planning, economic development, and the SGA Office to get feedback on the project, but no formal plans have been submitted.
No real estate taxes tax rebates. Can it be that the free market does work? Of course, it does.
Facts are the facts.
The City View Two real estate tax rebate proposal is not criminal, but I could not vote for it without violating my fiduciary duty to you the residents of Virginia Beach.
Only you the voters cannot put a stop to corporate welfare to political insiders granted by the governing majority of city council.