IS IT TRUE? August 10, 2011 Special Evening Edition

27

McCurdy
IS IT TRUE? August 10, 2011 Special Evening Edition

IS IT TRUE that the City County Observer is pleased to learn that the Art’s Council of Southwest Indiana has found an able replacement for Mary Jane Schenk?…that we would like to join the community in welcoming Nola Wright to the Art’s Council and wish her the best in her new venture after a lifetime as an attorney?

IS IT TRUE that City Centre Properties LLC of Carmel, Indiana that is the owner of the McCurdy Hotel located at 100 SE Riverside Dr, Evansville, Indiana is still behind on their real estate taxes?…that the amount of back taxes owed on this property is $12,274.76?…that just last week we learned that City Centre Properties LLC had taken out a loan on the McCurdy at Fifth Third Bank in the amount of $1,633,862 and that the City of Evansville holds a 2nd mortgage on the property as well?…that with this kind of cash taken out using the McCurdy at collateral one would think that the real estate taxes could be paid on time to avoid costly penalties?…that the penalty associated with being late thus far for CCP has been $2,985.34?…that the Evansville Redevelopment Commission may need to ask London Witte for a 2 for the price of 1 deal on vetting at the September meeting when hopefully the expired McCurdy deal will be discussed?

IS IT TRUE that a couple of lieutenants in the Mole Army stopped by the Sycamore Avenue Post Office today to see if we could learn something about the alleged sale of the building and the potential reorganization of that office?…that we were directed by the hardworking people in retail to the folks behind the glass?…that no one in the postmaster’s office was available to have a discussion with us?…that if we were betting that we would bet that this office does a large volume of business and that the rumors of a shut down are not grounded in truth?

IS IT TRUE that on our tour of downtown Evansville to see just how much the Arena has stimulated outside investment that what we found is a whole lot of “available” signs and empty storefronts among the bellwether businesses that are located downtown?…that we counted 37 storefronts that are either empty or available?…that we also saw available signs or ads associated with space in the old ONB Tower, the new ONB Tower, the Old Post Office, the Hulman Building, the old Sears Building, the Woolen Mill Building, the Old Courthouse, and several other buildings that do not have prominent names?…that we are waiting for the downtown renaissance to start because the magic Arena is nearly completed?

IS IT TRUE that Mr. Kish who is reportedly on vacation in Indianapolis this week has now been alleged to be not on vacation at all?…that Mr. Kish is now reported by Indianapolis based Moles to be cracking the whip on the folks at London Witte to hurry up with the vetting of the downtown Convention Hotel Proposals so that a decision can be made on the 12th followed by an announcement on the 16th?…that this would be the fastest vetting ever for a $33 Million project that we have ever heard of?…that London Witte was just chosen last week and has in all likelihood not even been to Evansville yet to speak to either the Kunkel Group or Prime Lodging LLC?…that our expectation is that this week was spent simply understanding what has been submitted and that the next couple of weeks will be spent doing a real vetting process?…that the CCO projects an announcement with respect to these bids no sooner than August 30th and no later than September 27th?…that we and others will be very interested not only to hear the decision but to review the process that leads to the final decision?

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27 COMMENTS

  1. If London Witte was, in fact, chosen on Friday, August 5, 2011 to vet the hotel developers, one week (i.e., allowing the ERC to decide based on a recommendation on Friday, August 12, 2011) is simply not enough. A conference room full of crack CPA’s (I don’t mean on crack, I mean really good) could probably crunch most of the numbers–assuming they had all the documents. If London Witte only received what the public saw (which was posted on C&P) then they’ve got a couple of weeks of just rounding up the rest of the financials they need, those applications had nothing about the strength or history of each of the businesses.

    But the reason a week isn’t enough isn’t the numbers side–it’s the qualitative side. Any firm worth their salt would want to go out and interview the stakeholders in these two developers prior projects, not the least of which would be to kick the bricks. If they can’t find out how these developers did in the construction phase, and whether they’re making dough from the operations now, they’re not qualified to provide a recommendation. They’d want to do full background checks on the principals from each company. They would want to interview each company’s current and former bankers and bonding companies. One week doesn’t cut it under any scenario. Only Big Al’s Pawn Shop, Bail Bonds & Vetting Services could get it done in just one week !

    Lastly, in my opinion, if there is a recommendation made in one week, then the fix is in; and whichever guy lost the deal was the strawman.

    • The ERC had to vote in a public meeting to hire London Witte. If the ERC didn’t vote in a public meeting, Mr. Kish may be on an unintended and unpaid vacation in Indy.

      • JoeBiden: excellent point. That is the same as the ECVB deciding to sack Marilee Fowler outside of a public meeting. Wasn’t legal then, isn’t legal now.

    • It is a number side only, that is the only reason that the propoals are being vetted. Browning and Woodruff’s proposals were terminated due to not being able to secure financing (I could elaborate but won’t). The ONLY issue at hand is who truly has the most sound financial backing.

      • Is it true that Martin Woodruff was photo shopping his financial statements to show that he had the financial backing when in reality he had nothing but smoke and mirrors? Is it true that the Mayor found out about this and that is why the city would not approve an extension on the proposal in June/July? Is it true that our current administration is protecting us from crooks like this?

  2. I know this doesn’t have anything to do with the article, and I apologize…BUT

    Della’s 2nd account, “TruGrit”, has disappeared from the C&P website, hateful posts and all…

  3. The closest hotel to Yum Center in Louisville is not a Hyatt but there is one about 7 blocks away. The closest hotel to Papa John’s Cardinal Stadium is not a Hyatt. The closest hotel to Roberts Stadium is not a Hyatt. The closets hotel to Commonwealth Stadium is not a Hyatt. I could go on all day about with similar places where Hyatt is not the closest. The Hyatt in Indy is not the closest hotel to either Conseco or Lucas Oil Stadium. Being closest is sort of irrelevant. The important thing is that Hyatt wants to be close to stadiums.

    That said both of these proposals are aligned with Hyatt Place so assuming one gets through the filter the closest hotel to the new arena will be a Hyatt.

    My name is not Roger Waibel nor have I ever even heard of Roger Waibel.

    • Wasn’t Roger Waibel a defensive back for the St. Louis Cardinals football team in the 1970’s, with that Jim Hart, Dan Dierdorf, Conrad Dobler team ? Roger, welcome to Evansville, I know you will do well at the CCO !

      • You’re showing your age, but I think you mean Wehrli.

        I’m not Roger Waibel either, but I know him.

    • A Hyatt is the closest hotel to the Superdome in New Orleans.

      Or at least it was prior to Hurricane Katrina…

  4. Sycamore Avenue Post Office closing rumor is just that as far as I know. I can tell you as an owner of a CPU, (Contract Postal Unit), I got a list of offices considered for closer about a month ago and it was not on the list.

  5. “the City County Observer is pleased to learn that the Art’s Council of Southwest Indiana has found an able replacement for Mary Jane Schenk?”

    Who are the Arts on the Art’s council, and what is their council in charge of, and what were they doing to Mary Jane Schenk?

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