Residents inquire developers about Energy Tower at Midland town hall
Facing a mixed audience of about 125 supporters and protesters, the developers of the proposed Energy Tower at City Center answered nearly every question they were asked Tuesday evening at Midland Center in an attempt to dispel all rumors and mitigate any fears residents may have.
Along the way, they revealed the most that Energy Related Properties will request from taxpayers is $75 million to help make the $450 million project a reality downtown. Officials also said an alternate project if taxpayer funds were not available would be to create Energy Campus in West Midland.
The town hall addressed a full range of hot topics the public has been concerned about, such as city abatements, construction time, downtown traffic and downtown events. The Reporter-Telegram facilitated the meeting, and ERP officials fielded questions from the audience and online.
Not every question as answerable, though, as ERP was unable to give specific construction start dates or a list of tenants, citing their status as a private developer. ERP President William Meyer II noted it is not their intent to be secretive, but rather that negotiations are very serious and it would not make business sense to release certain information publicly at this point.
More at http://www.mywesttexas.com/top_stories/article_40e17c5c-0a1b-11e3-92ce-0019bb2963f4.html .
[font color=green]Why would any project related to energy-related businesses need a taxpayer subsidy; particularly, building 53 story tower in a town of 115,000 that already has plenty of vacant properties? If the project is viable, let the developers risk their own money instead of begging for a handout.[/font]
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