Settling condo saga is needed step
Published 12:02 am Thursday, June 28, 2012
After six years, two mayors, two lawsuits and one bulldozer, the stalemate at the former Natchez Pecan Shelling Company site may finally be near an end.
Much has happened in the world since the dream of having some brand spanking new luxury condominiums was first floated as an option for the site.
Unfortunately, beyond the bulldozer that tore down the structure without the proper authority, little has changed on the site since. The weeds and grass grow — and are occasionally cut. That’s about it.
First squabbling, then legal action made the idea go from a dream to a nightmare for developers. The whole thing is a good study in how poor leadership and forethought can cost the city dearly.
The city “earned” $500,000 from the sale of the land, but when the dust clears and the full details are disclosed, the matter is likely to cost the city far more than that to settle the matter.
Of course, as residents consider the costs of this — to the city and to the investors — the possible growth of that money over time should be a factor.
For example, had the city taken the $500,000 proceeds and invested, it’s quite possible the city could have earned another $150,000 in proceeds by now. Developers could have earned that and much more if their plans were completed.
Of course the legal fees from all sides are gobbling up tons more cash. In fact, the lawyers involved may be the only folks to actually benefit from the whole debacle.
It’s an ugly moment for Natchez, and likely a costly one, too, but perhaps better days are ahead, particularly if our leaders learn from the mistakes of the past and avoid similar missteps in the future.
We would love it if soon one of the most beautiful spots along the bluff could have a better use than its current role as “most prominent eyesore.”