Sembler firm profits from foreclosure

The embattled BayWalk shopping complex in St. Petersburg, Florida, now seems to be approaching the end of its short life in financial ruins.

BayWalk, which opened in 2000, was developed by the Sembler Co. - which was founded by Bush-appointed diplomat and cult founder Mel Sembler. But now that foreclosure looms for BasteWalk, the Sembler Co. isn't the party that stands to lose.

That's because the Sembler Co. paid nothing for the land upon which the complex was built. However, the city paid $8,300,000. Overall, the city spent over $20,000,000 on its construction.

So who loses? The taxpayers.

In fact, if foreclosure occurs, the Sembler Co. will have made a profit.

Sounds to me like...a fleecing of America!

It gets worse. The Sembler Co. now complains that the city refused to give them rights to the development's public sidewalks to keep protesters away. Maybe it's because sidewalks are, like, public and all?

Talk about looking a gift horse in the mouth! First the city invests millions in a Sembler Co. project, and then Sembler has the nerve to grumble that the city isn't giving them what they want?

Why would a shopping center face public protesters anyway? The initial demonstrations were prompted by BayWalk's ongoing racist attitudes. Later, however, authorities began doing BasteWalk's dirty work, as police arrested antiwar demonstrators despite the fact that they were on public property.

Now taxpayers are stuck with the bill for the horribly mismanaged corporate boondoggle known as BayWalk. In BushAmerica, incompetence pays.

(Source: http://www.tampabay.com/news/localgovernment/article966884.ece)