Another Take on the Bobo Project

 

First a word of clarification on the Bobo project: Some (and we might as well say it - those who can't read with comprehension) felt that we opposed this ambitious bit of construction. Far from it. What we do oppose is the city buying into any "public-private" endeavor in such times as these.

Now a word from Bobo Family Group:

To clarify, NO public funds would be spent on this project until the project received certificates of occupancies (CO's) for all proposed structures. We do NOT believe in making meaningless investments, and therefore have asked that the City keep their funds until we've fulfilled our end of the deal.

Finally, a regular reader has another insight into this project:

Florence Historical Board Member Proposes New Low Income Housing on Walnut Street

According to a petition on www.CHANGE.org, James W. Bobo, II - CEO, Bobo Family Group writes;

"We recently met with our Mayor, City Council President, and the City’s bonding agent. They have the capacity and ability to borrow more than enough capital for both their new City Hall project (estimated cost range of $48 million to $52 million), and our public infrastructure (estimated cost range of $12.5 million to $13.5 million).  We believe that our development can offer the community so much more."

This is in reference to a new mixed-use development proposed by Bobo to be built on the lot of North Wood Avenue, East Mobile Street, North Walnut Street, and East Tennessee Street. It has been reported that there is ongoing interest from Publix as a grocery tenant as well as new apartment dwellings.

Florence Historical Board member and Muscle Shoals Heritage Area, Historic Preservation Consultant, Katie Randall released in an online statement;

"I also think it would be really cool if they did some sort of rent control or something to keep the housing affordable. We have a real shortage of decent affordable housing here, and I really think it would help grow the downtown area. I'm sure there are many different ways to go about it.

"Rent control is typically implemented by the city, but if our concern is affordable housing, I think it is important to remember that our government can do something about it when it comes to costs of living."

The Florence Historical Board is responsible for oversight of residential and commercial projects in the Florence Historic Districts.