IS IT TRUE? June 25, 2011

IS IT TRUE that the Summer of 2011 is becoming deadline summer down at the MLK Entertainment Complex?…that there have been two deadlines come and go and that both were granted extensions to their deadline?…that the developer for the McCurdy Hotel has a new deadline of July 31st to finally show that the funding needed to start the project is in place?…that this dog chases tail dance never seems to end and has run on for over 4 years now unfunded and unstarted?…that it may just be true that the end value of the proposed work will not support the cost to do the work?…that the only way to get something done with the McCurdy is to raise the property values in downtown Evansville?…that as long as a 90 room hotel right next door only commands a bid of $350,000 and a 40,000 square foot building is listed for sale at $150,000 that the probability of convincing a lending institution to loan out $9 Million against a fixed up McCurdy is very low?…that all eyes will be on the McCurdy during July?…that in 36 days we will know if there is a new deadline or a search for a new developer on the horizon?

IS IT TRUE that the deadline of the week for the last week of June is the deadline for the Woodruff Hospitality LLC to perform under the term of the agreement to construct a Hyatt Place hotel by “closing” the financing?…that it is alleged that there are two factions within Woodruff Hospitality LLC that are not getting along very well?…that it has been reported that two groups have commitments from lenders to enable either of them to go forward but that administrative details are in the way?…that the countdown clock until we may have no agreement in place to construct a downtown hotel is now at 5 days and counting?…that the Evansville Redevelopment Commission has already approved issuing a new Request for Proposal for the hotel project?…that the expectation is that if a $30 Million rabbit is not pulled out of a hat by Thursday June 30th that the new RFP will go out on July 5th?…that the RFP will require that bids are submitted by July 19th?…that such a short time window to respond essentially eliminates any interested parties other than the ones that are already involved to put a bid together?…that going back to the original RFP and allowing a longer response time to say 45 days will create an opportunity for real outside interests to be developed…that opening the bid up completely will also allow the clock to be reset so that the financial plan can be based on economic reality?…that the best plan is to set the clock back to October of 2010 and pretend the entire process that was devoid of vetting and poorly executed to be corrected this time?

IS IT TRUE that SMG really pulled a rabbit out of a hat to get Kenny Chesney to come back to Roberts Stadium after the City of Evansville had recommended that it be mothballed?…that the average ticket price is about $65 and that 9,000 people are expected to attend?…that if the Jehovah’s Witnesses had a $3.5 Million economic impact on the area that we wonder how much the Convention and Visitors Bureau would estimate a sold out concert impacts the City of Evansville?…that the tickets sales and fees alone for the Kenny Chesney concert will exceed $600,000?…that most of these people will hit the concession stand, buy a shirt, eat out before the show etc. and spend even more money?…that we expect that the economic impact of this event will be over $1 Million?…that this is the same Roberts Stadium that “can’t host big name acts and is falling apart” according to local government officials?…that those who wish to give Roberts Stadium a chance only need an event like this per month to cover the costs?…that the hubbub over Roberts needs to be addressed and needs to have a deadline like the other projects in town?

IS IT TRUE that the powers that be are on record as saying that the new Arena is fully booked on weekends AND that Roberts needs to be torn down so it does not compete with the new Arena?…that this is talking out of both sides of one’s mouth?…that both statements cannot possibly be true?…that since there is no contract with VenuWorks that it is most certain that the fully booked statement is simple puffery and is not true?…that we also wonder how the entire inventory of skyboxes were sold without any authority to price them or sell them?…that the only way that could have happened is if VenuWorks is not in charge of selling the skyboxes?…that if VenuWorks enters into any contracts of over one year that their TEMPORARY AGREEMENT requires ERC approval?…that the public record shows no ERC approval for the sale of skyboxes?…that we wonder if that is all puffery too?