IS IT TRUE: March 7, 2012

14

The Mole #??

IS IT TRUE: March 7, 2012

IS IT TRUE that in the time it takes to say “Pigeon Roost” that the entire prospects for the future of the McCurdy Hotel and the other yet to be named downtown hotel have changed dramatically?…that the McCurdy Hotel has attracted the interest of the Kunkel Group along with their new partner in the project Bloomington’s Randall Lloyd to the table to turn the McCurdy into 96 apartments?…that Kunkel has announced a deal with 5th 3rd Bank, the former employer of Evansville Mayor Lloyd Winnecke for a $2 Million loan to move forward with the project and will not be asking the City of Evansville for any additional money?…that the project is estimated by Kunkel to cost $13 Million ($135,000 per apartment) so the real determining factor to get some work started will be whether or not another $11 Million can be secured?…that we do wish Kunkel well with this project but do caution city dwellers that getting loans of that size for projects of that size is still not something that banks are known for?…that we do applaud the fact that this project is proposed to go forward with all private money at this point?…that the strings and restrictions that always come with government money and government loans will hopefully not find a way to bind the hands of Kunkel on this project?…that maybe the EB-5 financing program would be a good one to tap for Kunkel to get the funding and avoid the spider web of restrictions that will come with any public money at all?

IS IT TRUE that we would have preferred to see a fully restored vintage McCurdy Hotel?…that is really the best use for the property from the communities perspective?…that in the absence of a private self funded developer coming forward to do this that we are encouraged to see the Kunkel Group take on this project with ALL PRIVATE MONEY?

IS IT TRUE that Kunkel is also on record as stating that if the City of Evansville spends $40,000 on a new Hunden study that results in another RFP that they are not interested?…that this is understandable as both Kunkel and Prime Lodging seem to have spent substantial sums of money chasing a deal that the previous administration did not think through?…that in a way was an unintentional misleading of two local companies that squandered precious resources on a “GOOSE CHASE”?…that we hope that both of these companies move on and prosper?

IS IT TRUE that we wonder if the City of Evansville will ever see even one red cent of the $800,000 that they doled out to City Centre Properties as an incentive to do at the McCurdy what Kunkel is now announcing plans for?…that we guess that next year the City of Evansville will be sending an IRS Form 1099 to City Centre Properties LLC to report $800,000 of income based on loan forgiveness?

IS IT TRUE that there has been much uproar this week over the departure of an employee of the EVSC shortly after completing a master’s degree that EVSC paid $42,000 for?…that little has been said about the fact that the other nine are still on the job at EVSC?…that a 90% retention rate on anything is pretty good?…that if the goal was to spend $420,000 to get 10 MS degrees on staff that the plan just changed slightly to $46,666 for each of the 9 MS degrees that will still be on staff?…that this is one case where the glass is 90% full?…that we hope that the politics of envy and the commotion from this does not run the other 9 off making the program a bust?…that indentured servitude did not work well in the 1600’s and will not work now?…that if the gentleman who is leaving is being served better by leaving than by staying we should wish him well as opposed to demonizing him as many Evansville based places do to their former employees?…that that way to make amends is to replace this gentleman is by hiring someone with similar qualifications away from the Louisville School Corporation?

RELATED ARTICLESMORE FROM AUTHOR

14 COMMENTS

  1. The sooner Kunkel gets the McCurdy done, the sooner the City of Evansville can put a lien on it for the amount owed the city.

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  2. The “indentured servant” comment is unworthy of inclusion by CCO. The participants knew from the start what they were getting.

    This is a case in which Mr. Bertram and the EVSC Board abetted the mis-use of EVSC (i.e. taxpayer) funds.

    If the money was well spent, let the EVSC provide the details. As to the savings in the Pepsi contract, weren’t there “savings” in the prior contract.

    CCO, don’t become like the EC&P and rely on “trust but don’t verify.”

    • I know that if you take advantage of company paid educational oppourtunities at either Vectren or Berry Plastics you owe them a year or more of service once you take the first reimbursenet check. Your option, should you desire to leave for greener pastures, is to pay the company back.

  3. I was axe-murdered by the C&P today for suggesting that Kunkel wants it both ways. When they get insider deals to buy Welborn building for $ 1, and to buy Whirlpool building and land for $ 2.9 MM, all is good. When they get interest-free loans from the City to refurbish downtown condos, life has meaning. When the political insiders game turns around, and they are in jeopardy of losing their position on the Downtown Hotel, they throw a tantrum like they did in “moving forward” ($ 2 Million out of $ 13 Million needed)to do the McCurdy project. Also, read the C&P article from today on this. The quote from Chuck Harper (Kunkel VP) on the City getting ” value for its $ 800,000 incentive” (by giving it to Centre City, who will do nothing) was worth the 75 cents alone !!!

    • Please… Welborn came with immense tax bills and costs. Whirlpool had no cash flow associated with it when acquired – just a sitting money pit. The downtown hotel fell apart because some ERC members and soon-to-be City Council members wanted to flex political muscle and delay approval. If the McCurdy is completed the City will get exactly what it bargained for, a completed McCurdy and 800k debt forgiveness. If Kunkel didn’t step in, the City just loses 800k. Bottom line, you are wrong on every front and ill informed.

      • thank you, Mrs. Kunkel, you are correct . . . I have not been feeling well lately . . .

      • I think that the Whirlpool deal came with Whirlpool as a paying tenant from day 1. It was just last week that the City of Evansville agreed to pay Kunkel two years of rent on behalf of a company from Houston that has done nothing so far.

        As for Welborn that is correct but old Weinzapfel proceeded to send every democrat run non profit in the county into the open arms of Kunkel to pay rent. If it weren’t for Weinzapfel’s payback deals Kunkel would still be a couple of architects looking for an outhouse to design.

          • Heck, if is weren’t for Weinzapfel’s payola to Kunkel, Kunkel might have been the token architect on the ERC. Then he could really waste some serious money. He may even be doing something really expensive with the McCurdy like make it into a hotel.

    • From current records for the Walker Building

      May 10th, 2011 November 10, 2011

      Amount Due for SPRING 0.00 Amount Due for FALL 53,216.98

      * * * * * * * * * * *

      beerguy

      Evidently only suckers like you and I play by the rules.

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  6. Man, you know when you have the exact,perfect, response?
    And then, you blow the delivery?
    Sucks.

  7. Raisor is not the 1st of these employees to leave, so it’s not a 90% retention rate. David Dimmett left when Bertram left. I believe that Project Lead the Way did pay the last year of Dimmett’s tuition though.

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