The spending spree the City of Rocky Mount leaders have spent and propose to spend on the “proposed” Event Center is not sustainable. This type of spending is not sustainable for private citizens because private citizens do not have the legal authority to raise your taxes without your vote like the Rocky Mount City Council.
One example of why the Event Center is going to cost citizens $51 million is how they are paying for land.
The owners of the site where the city wants to build are being paid five (5) times more than the land is worth. Based on city provided information the land is only worth $203,000 but they’ve agreed to pay $1 million. Similar deals were made to the folks who own land where they plan to park cars. The city did better for one lot where they paid three (3) times more than the land is worth, by paying $750,000 for land that was only appraised at $247,000.
All told the City of Rocky Mount is paying $2.5 million for land that’s only worth $1 million.
Take a look at the chart below to see how “well” the City of Rocky Mount paid for property with OUR money.
Click on image for larger view or click on the following link. http://thecommunitycouncil.org/wp-content/uploads/2016/11/Land-Expense-for-the-Event-Center-09_09_2016.png or http://thecommunitycouncil.org/wp-content/uploads/2016/11/Land-Expense-for-the-Event-Center-09_09_2016a.png
Information provided by the City of Rocky Mount on September 9, 2016