The Project New Ground situation is a different animal altogether. Regarding the shipyards, I know most prefer a mixed-use development on the site instead of industry, but I find it hard to believe that you can't overcome contamination issues, liabilities and zoning to allow for industrial use. In the event, the property were used for industry, I'm wondering what type or level of cleanup would be needed and how much would the cost difference be between them?
Where I'm going with this is:
1. Is there a way to reduce the amount of liability and needed investment on the city's part to bring the property back online?
2. If certain uses could be found that reduce the amount of money the city needs to invest in it, while returning it to the tax rolls, perhaps those uses should be further explored?
3. Taking the cash required to make this shipyards dream happen and redistributing it to a mix of projects that will have a greater positive impact on downtown.
Also, there's nothing new under the sun. Most riverfront cities in this country have had a shipyard..or two...or three, close since WWII ended. What type of strategies have they used to put these properties back into use?