HUD’s Boutique Hotel Sep03

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HUD’s Boutique Hotel

Your Town Council plans to borrow $1.4M in your name, from a federal low income housing program to build a luxury boutique hotel. They want to know what you think about that. Want a chance to tell ’em?

A public hearing is being held Thursday September 12th. Now is the time for your voice to be heard. The Cary Town Council is using $6.8 million of your money to build a $300/night luxury inn, restaurant and martin bar in Downtown Cary. They want to borrow $1.4M of it from the Fed’s HUD program for community redevelopment. Out of control government spending does not get much worse than this. It is in our own back yard. You can take a stand here and make a difference.

Whether you are a federal taxpayer wondering why HUD would squander federal money on this, a Cary taxpayer wondering why your Town is giving away millions of your money, or both…… attend the Public Hearing, September 12th. let them hear from you.

You can read all about your tax dollars at work building the Mayton Inn here.

You can read about the dangers of HUD funding here.

You heard it right.

BE THERE. SPEAK OUT.

Thursday Sept 12th.

Get there early. Head over the the left side of the room to line up to speak.

LEGAL NOTICE

TOWN COUNCIL PUBLIC HEARINGS SECTION 108 APPLICATION AND LOAN MAYTON INN PROJECT The Town will hold a public hearing on amending the Town of Cary Consolidated Housing and Community Development Plan/FY2014 Annual Action Plan to allow the Town of Cary to submit an application for a Section 108 Loan for the Mayton Inn Project. The public hearing will be held Thursday, September 12, 2013 at 6:30 p.m. in the Town Council Chambers at 316 North Academy Street, Cary, N.C. The Town of Cary (Town) is preparing an application to the U.S. Department of Housing and Urban Development (HUD) under the Section 108 Loan Guarantee Program. This application will request up to a $1,400,000 loan to assist the private development of a new hotel and restaurant located at 301 South Academy Street. The Town proposes to repay the loan to HUD through payments it receives from a proposed agreement in the same amount from Memento Mori, LLC, the hotel developer. If there are insufficient funds to pay the loan debt service, the Town will pledge its future federal Community Development Block Grant (CDBG) funds for repayment over the 20-year life of the loan. The proposed project will create and/or retain jobs for low- and moderate-income persons. The proposed application will be available for public review in the Planning Department, Town of Cary, Third Floor, 316 North Academy Street, Cary, N.C. beginning at 8:00 a.m. on August 29, 2013. Copies of the application are also available on request and can be mailed, faxed, or emailed. Written comments may be submitted by mail to Philip Smith, Cary Planning Department, P.O. Box 8005, Cary, NC 27512, by phone to (919) 469-4029, by fax to 388-1103 (fax), or by email to philip.smith@townofcary.org. The public is also encouraged to attend and speak at the public hearing on September 12, 2013, noticed above.

Town Council Meeting
Date: September 12, 2013
Time: 6:30 PM
Location: Council Chambers
316 N. Academy St
Cary, NC

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