$165M for old Navy base
North Charleston OKs bonds for Noisette development plans
By James Scott
North Charleston OKs bonds for Noisette development plans
How they voted
Yes: Ed Astle, Michael Brown, Sam Hart, Bobby Jameson, Phoebe Miller, Keith Summey and Kurt Taylor.
No: Steve Ayer and Bob King.
Absent: Rhonda Jerome and Dorothy Williams.
In an effort to jump-start development on the former Charleston Naval Base, North Charleston City Council voted 7-2 Thursday to finance up to $165 million in bonds aimed at helping the Noisette Co. pay for new streets, drainage and lakes.
Under the deal that passed the city's Finance Committee on Tuesday, the bonds would be repaid with future property taxes collected on the base.
The first issuance of bonds, which likely would be around $25 million, could be as early as 2009. Those bonds would be used to pay off Noisette's construction loans.
Some council members said they hoped the deal would help propel new development at the base, which some city leaders have publicly complained has taken too long to get under way since the project was announced nearly seven years ago.
"I feel like this contract is as good as my input can make it," said Councilman Bobby Jameson, who often has been critical of Noisette. "I don't trust Noisette, but
I am hoping that they can rebuild trust in this project and get the development started."
Noisette officials said this week that site preparation work will begin in March and infrastructure in May. CEO John Knott told council the company has 400 houses and 500,000 square feet of retail, commercial and hotel space already under contract.
Thursday's approval marked the end of a tense couple of months that began when the deal was pulled off the agenda in September amid speculation that it wouldn't pass.
Since then, Noisette has lobbied city leaders behind the scenes, inviting Phoebe Miller, Ed Astle, Bob King and Jameson to its office for private presentations.
During one such meeting, King said a top Noisette official told him that without the city's approval of the bonds, private lenders would not loan the company the money to begin work.
The high stakes were evident this week as Mayor Keith Summey on Tuesday launched into several impassioned speeches during a three-hour committee meeting, trying to persuade skeptical council members to support the deal.
"We can sit back and not do this," Summey said at one point, "and I will be dead before we get any decent development on the base."
The mayor reiterated his passion for the project Thursday. "There is no liability to the city financially. What is the question?" Summey said. "Common sense tells me this here is a good deal."
King, a critic of Noisette who voted against the deal along with Councilman Steve Ayer, said he felt the deal was being rammed through before council members had a chance to digest its complex details.
"Their (Noisette's) track record is not good," King said.
The first time council members saw the report that it paid Maryland-based MuniCap $10,000 to prepare on the deal, King said, was when city leaders sat down Tuesday to vote during the Finance Committee meeting.
"I think administration is pushing it through as fast as it can," King said. "When the administration gets the votes, it moves. That is what happened. That is our politics."
Councilman Kurt Taylor, a longtime Noisette supporter whose district includes the old Navy base, defended the company.
"I'm not the least bit disappointed in Noisette's track record," he said.
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Neponset (anonymous) says...
A lot of work has been done to correct the pollution problems and may be on going.
November 30, 2007 at 2:47 a.m. ( permalink | suggest removal )
poorboy (anonymous) says...
Man was Noisette as good a choice NC had when this all started 7 years ago??
I would love to see the plan for 400 homes and where. Publish that Mayor Summey.
November 30, 2007 at 5:09 a.m. ( permalink | suggest removal )
now_ready1 (anonymous) says...
-> Posted by poorboy on November 30, 2007 at 5:09 a.m.
Man was Noisette as good a choice NC had when this all started 7 years ago??
I would love to see the plan for 400 homes and where. Publish that Mayor Summey. <-
Here you go, poorboy.
http://www.thenavyyardsc.com/
November 30, 2007 at 5:50 a.m. ( permalink | suggest removal )
bigpappapump77 (anonymous) says...
Too bad one has to drive through the ghetto to get to the naval yard!
Better lock your car doors and run some red lights at McMillan Ave and Spruill Ave to avoid a car jacking!
November 30, 2007 at 7:05 a.m. ( permalink | suggest removal )
ImplantedYankee (anonymous) says...
No liability financially? What if those tax revenues don't come through?
November 30, 2007 at 7:24 a.m. ( permalink | suggest removal )
SCVOTER (anonymous) says...
Don't you get it...that area (Spruill and McMillian)are only "ghetto" because the base is closed. If Noisette is successful with this re-development then it won't be a war zone over there. People that own houses (most likely not the ones causing trouble) will see an increase in their property value, and those that don't own will seee their rents go up. This will push the opportunist trouble makers into other less expensive parts of town. Development will do more for crime in NC than any city mandated bar closings.
Congratulations Council on a good decision. To those that didn't vote yes....what would be your alternative to Noisette out at the base?
November 30, 2007 at 7:35 a.m. ( permalink | suggest removal )
Hey_U_Guys (anonymous) says...
That base is a disaster area. Good luck getting it up and running.
November 30, 2007 at 7:41 a.m. ( permalink | suggest removal )
theronce (anonymous) says...
Compare how long it took Myrtle Beach to get the old air force base up and running and how long it is taking North Charleston to get the old naval base up and running. The good old boys here have to be careful both to cover their tracks and to make sure that one does not get more than their fair share, I guess. I may be hasty in considering corruption, ineptitude is another plausible explanation for such a long delay. I'm continually fascinated by the inability or unwillingness to do something. Obviously, their are no movers and shakers in the bunch.
November 30, 2007 at 8:17 a.m. ( permalink | suggest removal )
BlueWaterDay (anonymous) says...
Is it true that John Knott is being forced out as the head of Noisette?
November 30, 2007 at 8:39 a.m. ( permalink | suggest removal )
4Real (anonymous) says...
>>
Yes, and then the NAACP will rush in screaming "GENTRIFICATION!"
November 30, 2007 at 8:52 a.m. ( permalink | suggest removal )
waterbug (anonymous) says...
scvoter, i beg your pardon, but that area was bad area many many manny years before that base closed.
November 30, 2007 at 9:02 a.m. ( permalink | suggest removal )
BillytheKid (anonymous) says...
I would call the police to take a look into thie "deal". Where the hell is a US attorney when you need one.
November 30, 2007 at 9:51 a.m. ( permalink | suggest removal )
now_ready1 (anonymous) says...
Posted by Early -> Should have sold the shipyard as just that, a shipyard. It would have created more jobs and infrastructure than this BS program and quicker too <-
The BS Charlestonians running the RDA gave the shipyard over to their friends years ago.
The proposed developement has no bearing at all on the old shipyard.
Its only in the last few years North Charleston has gained a complete control over whats left.
Ain't history a Bitch.
November 30, 2007 at 10:48 a.m. ( permalink | suggest removal )
Alamo (anonymous) says...
-congrats to North Charleston and Noisette... can't wait for things to really get rolling around here.
-here is some suggested reading about what Noisette is planning
www.noisettesc.com/over_whatisnoisette
-I imagine things will not move as quickly as people want but it takes time to design, permit, etc. to make things right (this is not a strip mall or track home neighborhood)
November 30, 2007 at 12:43 p.m. ( permalink | suggest removal )
theronce (anonymous) says...
Pitiful are the inept political office holders. More pitiful are the people who keep voting them back into office. Even more pitiful are the people who do care or who have given up and do not vote. Would your boss put up with this at work, or would you as boss put up with this in an employee? We shake our heads, complain, take a drink, look the other way, and do nothing? We get what we accept.
November 30, 2007 at 12:50 p.m. ( permalink | suggest removal )
Nonsense (anonymous) says...
As a government employee who was fortunate enough to continue a federal career at the old Naval Base complex, courtesy of the U.S. State Department, I welcome the development at the other end of the base. The State Department, NOAA, FLETC, Coast Guard, basically Homeland Security have made improvements and have a large workforce out here which was like a ghost town twelve years ago when I started working here. I guess it was like going through a depression, but I see light at the end of the tunnel. The area will get better. Quite frankly, I lock my doors every where in the Charleston area - Mt. Pleasant and Summerville included - and especially downtown and West Ashley. I think North Charleston has always got a bad rap. I see improvements almost daily.
November 30, 2007 at 2:02 p.m. ( permalink | suggest removal )
madamvoter (anonymous) says...
I am not from North Charleston, but I have been there a few times, most recently in October to attend a beautiful wedding at the old Navy Base. What a georgous affair with the water park and beautiful modern art decorations. There must have been over 200 people in attendance, with full catering and a fantastic band. The grounds were beautiful. I had the opportunity to enter some of the old houses which were once the officer's homes and there is so much potential there. I believe Noisette will be a fantastic place in the very near future and I believe that the crime ridden areas close by will fade away with more positive and quality activities near by. Those of you that are so quick to be so critical, should ask yourselves "What can I do to help make this better?" Then DO IT. Go visit Noisetter, jog, fish off the pier, take your children to the waterpark.....make an appearance. Others will follow. The more positive activities that take place there and the more "good traffic" the less crime and "drug traffic" will happen.
December 1, 2007 at 8:48 a.m. ( permalink | suggest removal )
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