IS IT TRUE as it sinks in that the Old National Bank headquarters in downtown Evansville, which is a world-class building with the absolute top of the line office space with an adjacent parking tower has been assessed at only $31.7 Million, we must consider just what effect that assessment will have on other downtown properties?…knowing by virtue of public records that this property sold for approximately $67 Million in 2006, it must be assumed that the review committee of the assessors office agreed that the value of the property has fallen by $35.3 Million in the last 8 years?…the ONB headquarters is one building in downtown Evansville that has pristine maintenance, a marquee location, and a stable long-term tenant?…if the ONB headquarters has fallen in market value by 53% we shudder to think about what some of the other buildings like the McCurdy Hotel has fallen by?…the assessment of the ONB headquarters will by definition inspire other challenges to assessments which will reduce the flow of cash to the downtown TIF fund that was being counted on to finance other projects?…with an estimated refurbishment cost of over $10 Million for the McCurdy Hotel, using the ONB headquarters as a comp may just eliminate any possibility to fund both the McCurdy and the old Jackson House next door through conventional financing methods?…the same will apply to the downtown convention hotel which was promised to us for no public subsidy by then Mayor Weinzapfel 2,372 days ago?…this may even cause problems for the IU Medical School building which is slated to be owned by private investors?
IS IT TRUE one of our financially astute moles has pointed out that since the City of Evansville’s $20 Million bond commitment to subsidize the hotel was once approved there is a logical train of thought that leads to the conclusion that HCW does not have their loan in place yet?…assuming that ONB is good for their $14 Million contribution under the guise of naming rights and that the City of Evansville really can sell these bonds, that there is only one thing that could be holding this project up and that is the remainder of the funding?…outside of funding issues which along with valuation has been a monumental problem from day one, there are several moles that tell us that the hotel is still way over budget due to the reluctance of local firms to work with Hunt Construction that was the prime contractor for the Ford Center?…the one thing that is for certain is that the start date to avoid inclimate weather has passed and if the truth was told by Mayor Winnecke back in October we are now looking at a Spring 2015 start date if there is one at all?
IS IT TRUE the Mayor’s office must have been in some real need of a positive day of spin to have staged a publicity stunt out at Sigma Packaging over an announcement to hire 17 people?…one would think that incentives and golden shovels would not be necessary when a company expands by only 17 people with jobs that pay just over $20,000 per year?…this did not make anyone forget about the troubles down at MLK and Walnut, where the City is fighting like the dickens to spend $77 Million and end up owning nothing?
IS IT TRUE that the Evansville Convention and Visitors Bureau has announced that it will be providing a matching grant in the amount of $300,000 for the Mesker Park Zoo to use to purchase a merry-go-round and an aviary?…the cost estimate for these items is $3 Million?…we wonder exactly where the other $2.7 Million is coming from?…we wonder if a city that can’t afford to change the oil in the police cars seriously afford to consider dropping $2.7 Million on a merry-go-round and a bird cage?…these are nice little cutesy things that we are sure the children will like but spending money like this when one can’t change the oil in a fleet of squad cars is just plain stupid?…that said, if some private individual is willing to come up with the $2.7 Million balance, we will be the first to thank them?
IS IT TRUE we are relieved to learn that the United States Congress seems to have reached a deal that will avoid another government shut down?…there are things in this bill that the democrats are angry about and there are things that republicans are angry about, but the good news is that these suckers finally seem to have worked together to get something done for the American people?…we have little worry for the grandstanding of either side about what is not perfect about this continuation resolution for the ideals of their side?…it is about time this particular congress took a shot of courage and sent something to the President for a signature that is a compromise that will work?
IS IT TRUE we are all benefiting substantially by the drop in gasoline prices and it could not come at a better time?…it is estimated that the average American family is saving about $120 per month on gasoline relative to the price last summer?…that money and the positive attitude adjustment that always comes with falling gas prices should be good for the Holiday season when we all typically give gifts to our loved ones?…whether we like it or not this drop in gas prices was brought to us by added production in the United States of both oil and gas?…we are sure that someday oil will be over $100 a barrel but for now this collapse of prices has been just like getting a raise?
FOOT NOTE: Please take time and go to our “Readers Poll” and cast your vote on the question of the day.
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