IS IT TRUE our “ADMINISTRATION MOLE” tell us that the Mayor shall be leading a delegation to visit “Branson Landing,” in Branson, Missouri in a day or so to see if this development could be duplicated as a possible project for a new downtown hotel in Evansville? …that all members appointed by the Mayor to vet the proposed downtown hotel project had to sign a confidential agreement not to discuss this trip with anyone? …since the city is seemingly being charged with the responsibility of funding the entire cost of the proposed downtown hotel, we wonder why the President of the Vanderburgh County Commission is going on this trip? …we wonder why the Chairman of the City Council Finance Committee wasn’t invited to attend this fact finding trip? …we wonder how what type of transportation will be used by the Mayors “Ad Hoc Hotel Vetting Committee” to get to Branson, Missouri? …that we hear that this group could walk, take a cab, ride a Greyhound bus, drive in personal cars, hitchhike, or fly in a plush multi-million dollar private jet? …that the trip may be taken on a private jet? …if this trip is on a private jet, we would like to know who is paying for it?
IS IT TRUE that the City of Grand Rapids, Michigan along with several other cities in Michigan are pleased to be the home of branch campuses of the Michigan State University Medical School?…the address of the Grand Rapids branch appears to be right in downtown Grand Rapids?…the Main Street Mole tells the CCO that there is a forthcoming announcement from the Office of Evansville Mayor Lloyd Winnecke and others that Evansville will soon join the ranks of cities with a branch medical campus in the downtown?…the Indiana University School of Medicine has long had a presence in SW Indiana tucked away on the campus of USI?…there is an expansion planned and other locations have been under consideration including the soon to be empty lot where Roberts Stadium is being demolished?…the idea of developing a medical campus on that site with future expansion opportunities for medical device innovation was quite appealing?…it is not impossible to do the same thing downtown and a medical campus for 30 – 50 students in downtown Evansville will be positive as any location would be?…that will add to the ranks of the 300 or so Signature School student who already spend their lunch money and parking fees downtown?…the only question for a medical school downtown will be the distance to the hospitals that must be partners in the educational programs?…we are surprised that the new Warrick County medical park right past I-164 where Evansville’s hospitals have expanded are not trying to attract this Medical School to locate there?
IS IT TRUE that just a year ago the CCO and Attorney Les Shively teamed up every Thursday morning on a radio show broadcast by WGBF 1280-AM to discuss the antics of local government?…the CCO and Mr. Shively being somewhat kindred spirits often agreed on where tar and feathers should be applied and even on what was being done well by local government?…today we would like to take the opportunity to congratulate our friend Les on his appointment by Governor Mitch Daniels to the Vanderburgh Superior Court?…we are certain that “Judge†Shively will bring his quick mind, his creative nature, and his deep sense of fairness to the bench?…we close with the simple words “congratulations Les, you are most deservingâ€?
Branson Landing and the dilemmas of economic development
Posted on July 19, 2010 by Harry Styron
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Cliff Sain’s excellent report on Branson Landing in the July 18 Springfield News-Leader contains statements that illustrate some of the dilemmas faced by developers and local governments when planning a large project.
Branson’s aldermen (none of whom were in office when the Branson Landing project was approved for construction) have chosen to take $1.4 million from the city’s general fund and $1.2 million from the city’s transportation fund to make up shortfalls in TIF revenues to make debt service on the bonds used to finance the construction of the Branson Landing infrastructure and related street improvements. In addition, part of the TIF-secured bonds issued to finance Branson Landing also refinanced debt incurred for the decade-old Branson Meadows project, which has always been a weak generator of sales tax revenue.
The TIF-financed bonds are not general obligations of the City of Branson, which means that the bondholders have no claim on any revenue other than that generated by the increase in the taxes pledged for debt service. But if Branson’s TIF bonds are allowed to default, the city gets a black eye.
In this post, I’ll look at the implications of statements made by alderman Mike Booth and developer Rick Huffman, as quoted by Cliff Sain’s article.
Alderman Mike Booth: “If we didn’t have to spend $1.2 million (from the transportation fund), then maybe that road in front of your house could be paved better.â€
The traditional role of local government is to fix potholes and keep the snowplows running. Nobody says this isn’t a proper role of government. And citizens complain to their aldermen when the streets in front of their houses aren’t in good repair. Big projects, at times, divert money from taking care of the needs of the little people.
Rick Huffman of HCW, Branson Landing developer, made several incisive observations, including these:
“The city wanted to get as much cost into the project as possible because they get to use state sales taxes.
“Visitors to Branson Landing spend money and generate sales taxes outside the TIF district and might not come to Branson at all without the Branson Landing project.
Through HCW’s efforts, Governor Holden and the state TIF commission approved the Branson Landing project so that the increase in state taxes in the project area, not just city taxes, could be used to repay the TIF bonds.
With this incentive, and probably for other reasons, Huffman strongly makes the point that the city was given the opportunity to use money that would have otherwise not been available to pay the remaining debt on city projects having little or nothing to do with Branson Landing, such as the city hall expansion, a fire station and Branson Meadows.
As Sain points out, it’s debatable whether the Branson Landing visitors spend enough outside the TIF district to make up for the effect of Branson Landing and Branson Hills shopping centers in pulling shoppers away from the Strip and other locations outside the TIF.
Branson residents and elected officials, like most Americans, would say they’re for small government and letting markets make big decisions. But Branson’s city officials were tempted by Branson Landing, because it offered the opportunity for redeveloping the Taneycomo lakefront, which needed rejuvenation, and bringing people to Branson who wouldn’t otherwise come to Branson, because of the lack of convention facilities and the nature of the existing shopping and dining opportunities. It also allowed the city to repay some old debt with a new source of revenue.
The TIF-financing, especially with the state’s portion thrown in, proved irresistible. Branson Landing has brightened the image of Branson and made Branson a much more attractive destination. Those faced with allocating the city’s revenues will never know whether Branson Landing, as built, was the best choice, but they’ll have to play the hand they were dealt or step aside.
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If you can not meet the debt service requirements for the bonds issued to pay for the development of Branson Landing, then you do not have much of a “hand” to play. So the TIF is not generating the projected revenue. Where have we heard that before? Can you say: Ford Center?
Taking $1.4 Million from the city’s general fund revenue, and $1.2 Million from the City’s transportation fund is definitely going to put a crimp in Branson’s budget.
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Read in Evansville Courier that the President of USI said that the University is paying her way to the Mayors junket to Germany?
Correction-USI isn’t paying for President Bennett’s trip, the taxpayers are because USI is supported by our tax dollars!
Can’t wait for her to report back to the taxpayers and tell us how this trip (junket)benifited us.
The “ShotGun Wedding” between the Arena and the Taxpayers, soon will enter the realm of “Family Ties”, as the results pile up.
I won’t go into gender here, as it is irrevelant. The First Child, is in the “Oven” aptly Named: “Need Storage”, and will soon be joined by “HaHa Hotel”. The adopted pet, “TIF” has yet to prove it will protect the children, and appears to be a significant downside. The most distressing issue, is the ongoing Cost of the “Diapers” ($MILLIONS) for the “”Spoiled Brats”, and their aged,incontent, relative,– “Old Downtown”.
P.S. There is no help coming from Cousin “Centre”, he cannot even fend for himself.
Evansville,= can you say, “Disfunctional Family”
Will it ever get any Better? Time will tell,–in the mean time we all will just have to Hold Our Noses,–to ward off the “Stink”.
Thank you Crash Larue. You paint an accurate portrait of the situation in going down town, Evansburgh, IN.
Congratulations to incoming Vanderburgh County Superior Judge, the Honorable Les Shively.
Ditto.
Why are you wondering all those things. We all know the answers. Back door things will never stop in Evansville has long as he is mayor! But the City of Evansville voted him in – they are going to have to live with it.. So sad…
Branson Trip: To maintain its credibility, the CCO needs to be more careful about writing a story without checking out all the facts first. Example: “…. we wonder why the President of the Vanderburgh County Commission going on this trip? …” The President of the County Commissioners is not going on this Branson trip; never was.
While negotiations are going on, it is a good standard business practice to have a “Confidentiality Agreement” in place so the City can end up with the best deal possible. This hotel project is a very difficult complex problem to solve. The Mayor and the other decisions makers need to consult with several people to make sure to the extent possible all bases are cover and not give one bidder an unfair advantage over another. A “Confidentiality Agreement” is needed for a period of time.
In order to give Ford Center and the Centre a chance to be successful, this hotel is needed downtown. The City will have to put up substantial funds to get the hotel built. Let us strive to get it done right and make the best out of a tough situation.
The problem is … They rely on moles!
This sentence was taken down by Editor because it was off message.
So Goldentoe can you tell me if “Junket Marsha ” is going on the trip to Germany and the “Sin City” of the world with the Mayor and the “First Lady” of Evansville. If so, we is going to pay for “Junket Marsha’s” trip?
This sentence was taken down by Editor because this it was off message.
Her name is Marsha Abel.
Marsha Abell, County Commissioner President, is not going to Germany;never was going.
Taken down by Editor off message.
Taken down by Editor remarks too personal.
If we are to spend an extra 25 million[plus interest] on a hotel that can’t exist on it’s own merits. How many years of loss on the Ford and center are we to believe the “hotel” will net in savings for the taxpayer? The projected life of both units may strech to 25 years, the hotel project with interest will require about 40 mil . Are there benefits to having the government involved in competeing against private enterprize that I don’t see?
Regular high school diploma.
Total Population: 49,640,860 24.6% of population
25-34 year of age: 20.2% of population
35-44 years of age: 22.1% of population
45-64 years of age: 24.9% of population
65-and over: 31% of population
As you can see in this data, that has an accuracy rating of + or – 1%, there has been a downward trend in those people receiving a regular high school diploma from the older generation to the younger.
This is one of the most serious threats to our liberty and individual freedoms. An illiterate and uninformed electorate poses a threat from within that no foreign enemy can duplicate.
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If your point is that America is turning stupid you are surely correct. The other unspoken truth is that a high school diploma from the 50’s or 60’s was more difficult to get than these watered down ones now are. There are high school grads today that can’t add up numbers, fill out a job application, or even read a map. Public schools have gotten pretty pathetic but then again parenting has too.
At one point Les Shively did not live in Vand. County.
Now that he is a Vand. County judge does he live in Vand. County?
Shively lives in northern Vanderburgh County.
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