IS IT TRUE APRIL 6, 2017

IS IT TRUE published below are a few past posts submitted by CCO bloggers during the last several days that we found interesting?  …we hope you enjoy reading and responding to them?

IS IT TRUE yesterday Joe Wallace posted a comment about the Ford Center bond note?  …he said; “It is bleeding $9 Million per year Press. $1 M from operating losses and $8M to pay the note. It was asserted by the masters of the universe to generate enough free cash flow to pay that note. Delusion runs deeper than the Mighty Ohio River”.

IS IT TRUE yesterday CCO blogger Pressanykey posted “Three million dollars for a carousel for a zoo that is perpetually operating in the red. Hundreds of thousands of dollars to prop up a hockey team in an attempt to prop up an arena that is bleeding a million dollars annually. Ditto for the auditorium that goes by the name of The Old National Bank Events Plaza. Who is making the payments in order to keep the doors ope on all of these public entertainment facilities? You are with your taxes”.?  “If you wade your way through the 220 pages of the Regional Cities Plan for the “Great Southwest Indiana Region” I don’t thing you will find where any of that money is targeted to help make the payments on the above mentioned facilities. Instead what you WILL find are multiple plans where, for a modest amount of seed money, they expect the taxpayers to raise/leverage the additional money needed to do any of the projects outlined in the report.”  “If you can not make the payments on what you currently have, without raising taxes and fees, do you think it is a good idea to saddle taxpayers with additional debt on new projects? I suggest that at the next city council meeting the taxpayers hand out Santa Claus outfits to the council members”.

IS IT TRUE last week a CCO blogger posted the following statement we found extremely interesting?  …he said “with all of this unbelievable Addendum #6 a very urgent question arises and if I were a bond holder of the $127 million Ford Center I would want to know the answer — Who is responsible for the Five year lease of the Ford Center signed on behalf of the New hockey team named the Evansville Thunderbolts with the city signed by a probable shell corporation, or is Venue Works liable or its wholly owned subsidy that just appeared or is the City liable ? The Evansville Icemen that were forced out by Mayor Wenneke and Venue Works was a solid tenant for 5 years and used the arena 36 nights and paid approx $650,000 in Base rent , facility fees and video and audio use fees each season which made the Icemen the biggest tenant and user for five years — the Thunderbolts fell massively short of that its first year”?

IS IT TRUE last week another a CCO blogger called B Hall posted the following message we also found interesting ? …he said ‘It appears that the real conflict was that the head of Venue Works was on the negotiating team for the ERC as they negotiated the renewal of the contract with the Icemen.  This in turn leads to IS IT TRUE: The renewal contract with the Icemen was not negotiated in good faith but instead it was negotiated primarily for the personal gain of Venue Works.  IS IT TRUE: As soon as the negotiations with the Icemen reached an impasse and it was certain that the Icemen would not be returning to the Ford Center, Addendum 6 was added to the original agreement. This Addendum mysteriously extended the Venue Works’ Management Agreement for 5 years with a $390,000 per year possible bonus which is just a few dollars south of $2,000,000. In addition it also appears that this financial burden will be the responsibility of local tax payers.  IS IT TRUE: That thru a Sustained Effort Incentive Fee Account, the city of Evansville then advanced, loaned or gave Venue Works $200,000 of the $225,000 that Venue Works needed to acquire the SPHL franchise. When Addendum 6 was executed the $200,000 was disbursed to Venue Works and the account was terminated.  IT IS VERY TRUE sure glad I’m not on the Evansville tax roll?

IS IT TRUE CCO blogger called Line posted the following remarks in yesterday CCO?  …Lime posted the following statement:  “1) Did the City fund the $ 200,000 in the ‘Sustained Effort Incentive Fee Account’, which Item 4 states that the parties AGREE that that much was “earned” ?  2) “If Yes, which means the City really paid $ 200K of the $ 225K hockey license fee for VenuWorks, then WHY oh WHY in Section 7 would the City have to “reimburse” VenuWorks to get them to transfer the license to an entity “approved by the SPHL” ? In essence: the City paid almost all of it in the first place, and now the City has to reimburse VenuWorks for something Venuworks didn’t pay” ???  The Sustained Effort Incentive Fee Account = SLUSH FUND”?

FOOTNOTES: Todays “READERS POLL” question is: Do feel that Mayor Winnecke has any idea about the massive amount of debt he has incurred since he has been in office?

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