So we've been talking about our land and what we are going to do with it.
I was getting way ahead of the game here because you're probably not even going to have that problem.
Regardless of what a handful of neighbors want.
It's in the best interest of your community that you take that tract of land and develop it.
It usually is.
Think about it! It creates a higher tax base for the community and a higher tax base means fewer taxes for the people-at-large.
It also moves progress forward.
All cities have a responsibility to do to their citizenship and your engineer will tell you for practically nothing what the chances are of getting done whatever you agree to.
Now if the city is violently opposed to it, then I would look for another use of it, rather than fighting them.
In fact, there are very few developments that happen in an area like that, or any other area for that matter, where somebody isn't complaining.
It doesn't matter what you do with that place.
If you put a high-rise Baptist Temple there, I'll guarantee the Catholics would have a problem.
Whatever you decide to do, somebody is not going to like it, so don't let that bother you! Now here is another thought.
What you could also do is convert it to a high-rise, and consider maintaining the utility rights and creating a utility company to service this new complex.
This is a great idea! That's a cash flow.
In fact, I'm doing the same thing on that 40-acre tract I was telling you about in Michigan.
I didn't even know it, but I'm going to get into the craft business here pretty soon.
It's a pretty good little business, you know, you don't have to go look for customers.
Once they tie into you they can't get away, and they have to pay you for the use of that the same way you pay your utility company downtown.
So, once you change that use and put in the utility plant (which is nothing more than another improvement) it is really no different than putting in your roads.
That utility plant becomes a business of its own now.
Which is in a different entity than your property is and that's an ongoing business that you can either operate or sell off.
We will wrap this up in Part IV.
I was getting way ahead of the game here because you're probably not even going to have that problem.
Regardless of what a handful of neighbors want.
It's in the best interest of your community that you take that tract of land and develop it.
It usually is.
Think about it! It creates a higher tax base for the community and a higher tax base means fewer taxes for the people-at-large.
It also moves progress forward.
All cities have a responsibility to do to their citizenship and your engineer will tell you for practically nothing what the chances are of getting done whatever you agree to.
Now if the city is violently opposed to it, then I would look for another use of it, rather than fighting them.
In fact, there are very few developments that happen in an area like that, or any other area for that matter, where somebody isn't complaining.
It doesn't matter what you do with that place.
If you put a high-rise Baptist Temple there, I'll guarantee the Catholics would have a problem.
Whatever you decide to do, somebody is not going to like it, so don't let that bother you! Now here is another thought.
What you could also do is convert it to a high-rise, and consider maintaining the utility rights and creating a utility company to service this new complex.
This is a great idea! That's a cash flow.
In fact, I'm doing the same thing on that 40-acre tract I was telling you about in Michigan.
I didn't even know it, but I'm going to get into the craft business here pretty soon.
It's a pretty good little business, you know, you don't have to go look for customers.
Once they tie into you they can't get away, and they have to pay you for the use of that the same way you pay your utility company downtown.
So, once you change that use and put in the utility plant (which is nothing more than another improvement) it is really no different than putting in your roads.
That utility plant becomes a business of its own now.
Which is in a different entity than your property is and that's an ongoing business that you can either operate or sell off.
We will wrap this up in Part IV.
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