“The other really key thing in terms of areas like this is what I call global economic distress…The good part about that is that it qualifies us for public funding. And I’ll tell you that without public funding this would be no-where. And in fact, the funding that we have now for the hotel alone twenty three million dollars only nine million of it is private money and the balance is in essence public grants and low interest subordinate loans. And it can barely make it at that…
And then the other thing that’s important to revitalization, which is not true now, is to have the national situation be in a positive way, a growth economy. We don’t have growth; we have no confidence, so that makes it harder. When we started here we did, so that’s why we started.
Anyway, the goal of all this, from our point of view is to create a spark. A spark, in other words a reason to redevelop the area. And not only to spark it but to make it so it continues. And that’s where the hotel and the office come in. If you get those two in there it’s much better than either one by itself. It’s one and one equals three… The goal, it’s not our goal, it’s good for the area, is that we attract imitators and competitors and that gets the ball rolling… When we came here we tried to tie up as much land as we could… but we didn’t get much, but here we are. “
Mr. Pulver’s main talk is here, his comments on the economy begin at 06:50: