The Seattle Post-Intelligencer commits a rare act of sanity today, changing the subject from the not-really-a-scandal "strip club campaign contributions scandal" to a much bigger civic disaster waiting to happen. Microsoft billionaire Paul Allen, through his venture arm, Vulcan Ventures, is begging for some of the people's money to help build his next questionably profitable enterprise:
Vulcan owns almost 50 acres in South Lake Union. Along with other companies and institutions, Vulcan is working to transform the neglected neighborhood into a center for biotechnology.$500 million is nearly $1,000 per Seattle resident. Will this vaunted biotechnology center "create new jobs" in Seattle? When, if ever, will it generate enough new tax revenue to recover the public "investment"? Nobody has any idea, but I do know from private conversations that it will move some jobs from the eastern shore of Lake Washington to its western shore. Woop-de-doo.To do so, Vulcan is asking for $500 million in improvements from the city that will include transportation upgrades and an electrical substation to power the research center. Vulcan also needs zoning changes to allow the unique biotechnology buildings and laboratories.
Still, Paul Allen has proven himself to be adept at playing the political game well enough to get more than his fair share of the people's money to help pay for his boondoggles, such as a new stadium for his Seattle Seahawks. The easiest way to obtain $500 million in city money is to have, uh, friends on the city council, so Paul Allen is helping his friends.
When the latest campaign contribution reports are filed Monday, a few will likely include generous donations -- some estimate a total of $15,000 at least -- from a fund-raiser Vulcan co-sponsored July 29 for incumbents Jim Compton, Margaret Pageler and Heidi Wills.That's not any different from what the strip club owner did. On the other hand, all he wanted was permission to use his own land for a parking lot. He wasn't asking for a $1,000 giveaway from everybody in town. Posted by Stefan Sharkansky at August 08, 2003 11:51 AMThe get-together was held in a vacant building owned by Vulcan on South Lake Union, and was attended by about 150 Vulcan employees, associates and other supporters of the South Lake Union development plan.
Vulcan does not yet own all the property within the ambitious limits of that redevelopment, either. Earlier trial balloons for City assistance indicated that eminent domain may be part of the plan, in order to 'develop it to its full potential'. In other words, the current occupants might be displaced and encouraged to relocate in Lynnwood - just like kulaks.
Posted by: Insufficiently Sensitive on August 8, 2003 02:18 PMi'm not from seattle,, but it seems to me that this is just another attempt by another rich outfit to make them richer on the backs of someone else who is lot poorer without taking any real risks themselves. its like the bank presidents son borrowing money from daddy (not really his, its the banks, imean the people who save in it) and daddy saying sure,, why not? this kind of chicanery helprd start the 29 stock crash (it was in all the papers) thier reason is that it will create jobs......maybe.....but not the real reason. and the risk is still there. one also thinks about companies that takes pension plans money and invests it in thier co's stock. an investment or a way to bolster share prices. the list goes on and on. but if you stare at the mak-up of these schemes long enough, yopu can see a lot of various motivations.
Posted by: marvin on August 8, 2003 07:13 PMLet's see. On one side you have convicted felon strip joint owners supporting Nicastro & Co. On the other side you have the guy who built that glob-like EMP supporting Compton & Co. Tough call.
Posted by: Bird Dog on August 10, 2003 10:00 AMI do not support Judy Nicastro. I do, however, feel that the specific issue of the strip club is a triviality, while the South Lake Union biotech center can have a much bigger impact on the city's finances and deserves more serious critical inquiry from the media.
Posted by: Stefan Sharkansky on August 10, 2003 11:54 AMA few years back, this same area was slated for "re-development" as a people's park ala Boston, called appropriately enough, the Seattle Commons. Seems the draw of this "negelcted neighborhood" is just too strong for civic minded millionaires to leave it alone. Just because the market isn't interested in developing the area, well, that should be no concern to the public purse...
Posted by: Clay on August 11, 2003 08:16 AM