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Follow the bouncing bonds on this, if you can...

1. RIDOT, in serious financial difficulty pledges the Shooters property as collateral for money needed for highway projects from the Feds.

2. In order to release the lien on the property so as to market it, the Feds have to get paid, so, we float a bond for $14.5M, roughly $5M goes to discharge the lien, the other $10M to "buy" Rocky Point for open space from the SBA. The property goes from RIDOT to the EDC??? Say it ain't so... Keep in mind, we are paying juice on the original money that was lent to the State DOT and now paying interest on that $14.5M bond.

3. Surprise, more money will be needed to clean up the site and make it suitable for open space shoreline access...Price tag for that, UNKNOWN, but I will bet another $5-15M...

4. The developers who were interested in building high end, luxury units on the site were willing to pay $ 16-22M for that right. If 200 were built and assessed at $600K each with our current residential tax rate, well, do the math...

5. You will end up with something that looks like a garbage dump, nearly impossible to maintain, unkempt, an eyesore attracting the wrong group.

6. This was an unholy alliance from the beginning, with collusion, conflicts of interest driving it and nimby-ism and scare tactics at its worst. It's like MONOPOLY money in the end, but who will pay?

From: 13 could be Rocky Point's lucky number

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