"The costs outlined are simply too low for actual restoration. While
Johnson said that they were not meant to be inclusive of everything
but only the initial projects, I don't see (in what was presented)
where the total restoration of the Casino, CH et al is called for.
While it implies that the actual cost of each project must be fully
funded prior to commencement, we are only holding 25% of the initial
projects in escrow. We don't even know who estimated these costs and
if the city has or will get independent verification of the costs. I
don't see anything that requires full restoration."
As we all know, Larry doesn't do restoration, hell he doesn't build,
develop, market or sell, he eminent domains, paints, burns or
demolishes.
Any restoration of these properties will be done by his tenants, and
since he offers leases no longer than 3 years, there are severe
restraints on how much he can milk these poor bastards.
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