It seems that Nichols Hills Plaza is too big to fail... at least for the city of Nichols Hills.
The Chesapeake owned plaza has created a $500,000 shortfall in the city's budget, and those costs are going to be passed on to the taxpayers. I'll go ahead and get this out-of-the-way, "It's that DAMNED OBAMA'S FAULT!"
Via News 9:
The financial woes of the Chesapeake-owned Nichols Hills Plaza is creating a 20 to 30 percent shortfall in the City of Nichols Hills' budget. City officials say that deficit is forcing them to make difficult decisions to raise money.
At the Nichols Hills Plaza shopping area near N.W. 63rd and Western, businesses have left and less money is being collected in sales tax revenue, according to the city...
More than half of the area is now vacant, forcing shoppers' dollars away from Nichols Hills. It has resulted in a half million-dollar budget deficit.
"For retail sales, the Nichols Hills Plaza is one of our principle places that we historically have obtained our taxes," Mayor Steve Goetzinger told News 9.
Chesapeake Energy is trying to sell the area, which is creating an uncertain environment for store owners who pay rent to the energy company. Goetzinger is anxiously waiting for the future owners to start leasing as soon as possible.
Goetzinger says the city's slice of the pie goes to pay firefighters, police officers and other public employees. Already, Nichols Hills has been forced to cut positions, according to a letter sent to residents from the city. Now, city leaders are looking at increasing utility rates.
"We have not made a final decision as to what will be increased and what will be left alone," Goetzinger said.
I used to enjoy getting coffee from the Starbucks in the Plaza. Not so much anymore, I don't feel comfortable parking my Hyundai there and then dealing with the condescending stares of middle-aged Stepford Wives. I've tried to apologize to them for not marrying better or being born into money, but they don't seem to care.