IS IT TRUE May 2, 2012
IS IT TRUE that the Evansville Redevelopment Commission has finally formally placed the contract with City Centre Properties to refurbish the McCurdy Hotel into apartments on formal notice that they are in default?…that it took no less than three years for this artesian well of knowledge to burst from the collective body that has presided over what has been perhaps the two most impotent projects in the history of the City of Evansville?…that this should have happened in either 2009 or 2010 but there just always seemed to be some reason to keep extending the deal while that last signature was perpetually two weeks away like a carrot on the end of a stick to get a jackass to pull the plow around the field just one more time?…that brings up the question of just what will happen with the McCurdy now?
IS IT TRUE that attorney Ted Ziemer has been quoted as saying that Fifth Third Bank has initiated foreclosure actions to protect a $2 Million mortgage that they hold against the McCurdy?…that Fifth Third is in the first position and will someday (do not hold your breath) be able to force an auction to get as much of their $2 Million as possible if they choose to do so?…that it seems as though between the $1,403,000 put into the project so far by the City of Evansville and the $2,000,000 loan taken out by City Centre Properties against the McCurdy that $3,403,000 has been spent on this project and the upstairs windows have not even been closed?…that this money is down the proverbial rat hole and outside of a miracle or a compromise the McCurdy may be heading to the auction block like its next door neighbor the Riverhouse did?…that we must remember that the Riverhouse only brought a bid of $350,000 at that auction and that it is still owned by the bank that repossessed it?…that we hope for a better fate for the McCurdy?
IS IT TRUE that it has been widely publicized that the Kunkel Group along with Bloomington developer Randall Lloyd have intention to complete the task that City Centre Properties choked on?…that we hope that this is as easily done as said?…that we are sure that the City of Evansville and the ERC will be enthusiastic to cooperate any way they can because if Fifth Third takes the auction route the City of Evansville will be getting exactly nothing for the $1,403,000 that the last administration sunk into this un-vetted project with an un-vetted developer?…that it would appear that the fate of the McCurdy is in the hands of whomever at Fifth Third makes decisions with respect to repossessed properties?…that if Fifth Third has any reason to believe that an auction or a for sale sign will result in a sale at over $1.5 Million that this will probably be the route that they take?
IS IT TRUE that the Kunkel and Lloyd team could then pick the McCurdy up at that auction and the City of Evansville will be out of the deal and out of our money?…that the Kunkel and Lloyd team could create a cooperative effort between three entities to pick up the pieces and move forward?…that from a private enterprise perspective that getting the City out of the deal would be preferable?…that the only financial reason to want to keep the City in this deal is to get some additional incentives from the City or to have the City intervene with Fifth Third to grease the skids?…that we seem to remember that Fifth Third owes the City of Evansville some money from a loan made to their predecessor’s predecessor back in the early 1980’s when the Fifth Third building was being built?…that some convoluted pact of debt swaps could make this attractive to Fifth Third and clear the way for Kunkel and friends to move forward?…that at this point in time and the absence of a white knight that Kunkel and Lloyd are probably the last hope for the McCurdy to be standing in 5 years?…that being the case we encourage the powers that be to grease whomever and whatever needs greasing and get this show on the road?…that this project has thus far been a showcase for why government should stay the hell out of what private business should be doing for a profit?
Could anyone provide information re: the notion that Kunkel is “assuming the incentives” ($ 800,000 grant ) given to City Centre ?
I would like to know if there will be a PAYMENT made by CCP to Kunkel ?
The incentive offered was for $10,000 per apartment. CCP only was advanced $800,000 so I assume since Kunkel is proposing 96 apartments that there is another $160,000 to be gotten. I don’t think Kunkel would build a doghouse without an incentive of some kind in play.
Hear about the Vanderburgh County Council approving large raises for Eric Williams Sheriff Department employees this morning? The Vanderburgh County top “TIRE SALESMAN” Councilmen-Jim Raben pushed for these unacceptable raises for his back room political buddy Williams.
Can’t wait for William to run for Mayor so we can show the voting public what a tax and spend liberal Eric Williams is! IT’s time we “RE_TIRE” the number tire salesmen in Vanderburgh County Government -Jim Raben!
“STADIUM OVER SEWERS” AND “TIRES FOR RAISES”!
Wonder how much tire business Sheriff Eric Willims gives his political buddy Jim Raben each year? Wonder if Raben does competitive bidding to land county tire and repair business?
Tiregate?
Mr. Editor: When will the CCO take exception to the posting of unfounded personal attacks on your message board? I imagine that the integrity of the comments here will improve if you require the use of a poster’s real name to be assigned to each post.
I have no direct knowledge, but I would bet that any tire business between Raben Tire and the city/county is so small that it would be in the tenths or hundreths of one percent, if that much.
I know James Raben and take exception to the assault on his character by hiden assailants.
JOEBIIDEN
IF YOUR STATEMENT IS TRUE WE BETTER CALL THE U S ATTORNEY GENERAL OFFICE OF OF POLITICAL CRIME TASKFORCE RIGHT AWAY. THE NUMBER IS 317-229-2443.
ARE YOU SUGGESTING THAT WE MIGHT HAVE ANOTHER TENNESSEE TYPE “WALKING TALL” SITUATION BREWING HERE IN LITTLE OLE VANDERBURGH COUNTY, IND.
WOW–WHAT A RING–“TIREGATE AND “RAISEGATE”!
We all know that the City-County Observer is well-known for its typographical errors, but the all-time best typo so far has got to be “the two most impotent projects in the history of the City of Evansville.” The combination of incompetence and corruption in the goverance of the City Evansville are a powerful combination that we will have to live down for the rest of our lives.
Today I renew my plea that the voters of the City of Evansville hold a referendum to disolve the city charter in a referendum which will demand that the Mayor and City Council of the City of Evansville shred said city charter and Fed Ex it to the Secretary of State in Indianapolis. You’ve lost the trust of the people of Evansville: It’s time for Evansville’s politicians to find honest work.
what typo ? Looks right to me. They are “impotent”. Do you think they are “important” ?
I’m with you, beerguy, that’s how I read it.
Comments are closed.