The city issued 10.25 Million dollar bond issue on this project and according to the 2007 report to the state the city reimbursed the developer 6.6M+ for work done. That 6.6M must have come from the bond money since there has been no commercial activity to generate EATS and the property certainly has not increased in value. The annual report ending June 30, 2002 shows expenditures of $7.5M and income of $210,000. Looks like a deficit to me.The 2004 deficit wss $485,000, 2005 deficit was $607,101, and the 2006 deficit was $577,117. Year ending 6/30/07 actually had an excess of $70,242. Got a ways to go to be all caught up. You have a different source with different figures?

How about the Vig???

You must be from that school of new math.
He got 10 million dollars from the city, do you know what the debt service is on $10 million bucks?
Who do you think is pays that?
That is money we can’t use on Police, Fire, Roads, etc..
So I’ll tell you what you loan me about $100 grand open ended I’ll pay it back when I feel like it, and I’ll take you to dinner and cut your grass once in a while.
Does that sound like a good deal to you?

on schedule
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Isn't Earl just about the most fun guy you ever been around.
It's all that pesky reading and checking he does that can be so irritating.
Plus He’s way smarter than most of the guys he’s checking up on.
I love you Earl keep it up.
YOU know when we have the whole group attacking us as hard as they have the last few days were right on target…
Fire for effect…. Earl knows, the rest look it up…

I may be confused. Help me out. Looking at city annual reports from 1997 thru 2007, and partial report thru February, 2008, I get the total revenue on this site at about $1.4M and that includes approx. $680,000 from investment income. The developer contribution is shown as a total of a tad under $700,000. The figures for March 2008 aren't available to me. The annual report to the state for year eding 6/30/07 shows developer has been reimbursed $6,684,523 since inception of project. PILOTS and EATS total about $1.5M. Can't be exact on that figure since 2006 report has the total at less than $1M. By the way, the $6M+ figure listed as reimbursed is the total expenditures from the 2006 report. And the refunded bond issue is $10,030,000 so I expect a part of the "revenue" may be in the savings from the original bond issue of $10,250,000. I would be interested in the source of your figure.

OK how about the empty land George ask about ?
That used to be a Grocery store and a small strip mall.
Now its empty and over grown with weeds…
How does that help revitalization?

I'm not being snotty, I just don't remember a grocery store being there.I remember a Winsteads and a strip of shops but no grocery.

The grocery referred to was not there originally. It was planned to build a new grocery as the anchor to a new and expanded and new strip mall.

Well lets see the Tif was for 10 million, and HWWNBN has paid back $85 grand for which he received a standing ovation.
So if my math is still good He owe’s us $9,150.00.
And the Council seems to make NO EFFORT TO COLLECT THE MONEY FROM him.
Heck they don’t even make him cut the weeds most of the time in the summer.
So they used threat of ED to force out a grocery store and strip mall, and have let it lay vacant, and weed covered.
So he may not be able to be bought, but it looks like all of the sitting council can be RENTED at a fairly low rate.

He paid $960,000 March 2008. A like amount was paid in '07. Figures from City.

I would like to see that figure myself. The latest info on the city web is the monthly report ending 1/31/08. Where can I find the March 2008 figure you allude to in your post?

More vacant lots and broken promises. And how much did the City make on those Tifs.
And who said anything about being bought? Oh you did. And tell us more now

you have in many of your writings made that statement and or implication about all of the council members and other city officials, was just responding to your statements, sorry I didn't go back & look up each reference - assumed you would remember what you have written;

Who paid to tear down the houses and businesses in that area?

How much has the city lost in tax revenues from the business that were forced to close and move?

It would be my take that the city did. According to a report to the state for fiscal year ending 6/30/2006 there was a total of $6,834,523 expended on site for Acquisution of buildings or land, professional fees and financing. The report for fiscal year ending 6/30/2007 shows a developer reimbursement of that exact amount. Now, since the total PILOTS and EATS since inception in 1997 was less than $2M, I would have to think the $6M+ came from the cities bond moneies. What do you think?

I think someone has some splainin' to do, as they say......