consultants are sandburs

Thursday, July 18, 2013

Hyde Development appears poised to seek brownfield site remediation handouts from government. In Fridley.

This link. The reporting of seeking subsidy largesse from taxpayers is buried deep at the story's end. Second to last paragraph -

Cleanup efforts, site preparation and infrastructure improvements will likely be aided by state and federal grants, as well as tax-increment financing from the city. The exact amount of TIF money has yet to be determined.

Big surprise?

Strib goes along with the developers, singing, jobs, jobs, jobs, as if some infallible crystal ball were involved rather than a selling slogan to get subsidized.

Hyde Development plans to pump $100 million to $150 million to clean up and develop the site in a project that could ultimately create 4,000 jobs, said Paul Hyde, principal at the firm.

The plan involves developing a 12-building industrial/business park with bulk and office warehouses, office showrooms and corporate build-to-suit operations on land Hyde considers to be one of the most desirable commercial sites in the state.

Read the item. It appears Hyde Development's business model is to profit from brownfield remediation handouts.

Hyde Development specializes in projects involving environmental contamination. “This is our fourth Superfund site that we’ve done; we really like these projects,” Hyde said. “We like it because of the location near 694 and East River Road, the proximity of the Northstar commuter line and the fact that the industrial market is recovering.”

Earlier site users were lax in housekeeping and land stewardship, hence taxpayers should flow profits to Hyde. I like Dr. Jekyll better than Mr. Hyde.

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