Using the tech metaphors so common now, we have tended to focus on the “hardware” of place, the land, bricks and mortar. But maybe it is time to think more in terms of the “software”, of how we program and run places day to day. There are two masters who have done this with real estate, one on the East Coast and one on the West Coast, and they have both been at this with single properties for more than 20 years. One is Dan Biederman of the Bryant Park Corporation, who has made that Midtown Manhattan space one of the world’s most densely used … [Read more...]
Archives for January 2012
The Case for Quality of Space
Last November I was privileged to be able to speak at a community conversation event in Franklin, Indiana - a town of about 25,000 people south of Indianapolis that is an old county seat on the edge of suburban expansion - sponsored by Indiana Humanities and Ball State University's Bowen Center for Public Affairs. The topic of the evening was quality of space and what, if anything, Franklin should do in this area. There had recently been some big disputes over downtown redevelopment projects I believe. I gave a talk that set the stage for … [Read more...]
Indiana’s Bridge Deal Boondoggle, Part 4 – A Better Plan
In the first three parts of this series, I discussed how Indiana so badly botched its negotiation with Kentucky on the Louisville bridges project that its share of the project went up by $200 million at the same time the total project declined in cost by $1.5 billion, how this will result in $432 million being drained out of regular highway funds to cover a resulting tolling gap, how tolling likely results in Indiana paying even more, and the significant risks Indiana has taken on by agreeing to build a tunnel in Kentucky. Amazing as it sounds, … [Read more...]
Indiana’s Bridge Deal Boondoggle, Part 3 – INDOT’s Mini-Big Dig
In previous installments in this series I highlighted how Indiana managed to increase its share of the Louisville bridges project by $200 million even as it bragged that the total price tag had gone down by $1.5 billion, how this led directly to Indiana having to allocate $432 million in regular highway funds to the project, and how tolling puts Indiana at significant risk of paying an even greater share of the project. Today I'll highlight how Indiana is stepping into a potential quagmire by agreeing to take responsibility for building a … [Read more...]
Indiana’s Bridge Deal Boondoggle, Part 2: Hoosiers to Pay Even More With Tolling
In part one of this series I examined how Indiana managed to give away $1.7 billion to the state of Kentucky in renegotiating the project cost split for the Ohio River Bridges Project at Louisville. Despite a series of scope changes that reduced total cost by $1.5 billion, Indiana's share of the cost actually went up by nearly $200 million. Some might object that the project cost split is essentially meaningless because the project will be funded via tolling in a public-private partnership like the Toll Road deal. Unfortunately, this is not … [Read more...]
Indiana’s Bridge Deal Boondoggle, Part 1: A Financial Fiasco
- Indiana gives away $1.7 billion to Kentucky - - Indiana's costs up by $200 million while total project costs decline by $1.5 billion - - $432 million diverted from other projects to close funding gap recreated by Indiana's botched negotiators - - Tolling likely to mean Indiana pays well over half the project - - Indiana potentially exposed to major risk by agreeing to build a tunnel in Kentucky through Louisville's most affluent suburb that the state has no expertise to construct -I've noted before how the Indiana Toll Road lease was a … [Read more...]