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Originally Posted by UPChicago
I can kinda sorta see your point of view on the Post Office seeing as the Sterling Bay deal should have happened and was a squandered opportunity.
With Uptown Theater I don't because there was no funded viable plan put forth put forth to renovate it. I live in Uptown and I personally think in time it will happen but its just not its time yet. All the momentum is in the right direction.
In general, not just talking about mega developers, but property owners in general (because laws are for everyone) if you start enacting some type of penalty for vacancy these properties will eventually go ownerless and eventually meet the wrecking ball, on taxpayer's dime or more likely sit vacant and continue dilapidate due to lack of funds for demolition.
No one is going to pay penalties on properties that aren't making them money, I think a vacancy tax/fine/penalty is a misguided policy and would not have the intended result. Also regardless if the property is vacant Davies pays taxes on it and those taxes pay for the fire service that every taxpayer is entitled to.
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True, but a penalty for having a non-functional standpipes in an enormous building in such a built-up area should be severe enough to spur action and get the building's fire suppression systems at least functional, or else this is a disaster waiting to happen.