
IS IT TRUE the ink is barely dry on the resolution crafted to vote to borrow the money to proceed with the City of Evansville’s incentive for the IU Medical School and the first questions are coming up regarding the amount that will be borrowed?…the headline number for the incentive was an eye popping $35 Million for the highest cost and highest incentive of the four bids?…the question that must be answered now is why does this resolution call for a borrowing limit of $57 Million instead of the $35 Million headline figure?…that is a full $22 Million more than the headline number that got all of the “downtown or nothing” crowd weak in the knees?…the answer to the missing $22 Million is probably somewhere in the acquisition and preparation of the 6 blocks of land pledged by the City of Evansville?…it will be very interesting to observe the spending on land and who gets the big checks?… it will be even more interesting to see just how much the people or businesses who cash these checks fork over to politicans in next year’s election cycle?…there may even be some of this money scrubbed through the system in time to grease a candidate or two this year?
IS IT TRUE with this debt which can carry an interest rate of up to 7% over a 25 year period and the $20 Million that will be borrowed to hand to HCW for the downtown convention hotel the borrowing to subsidize 8 blocks will be $77 Million?…the payment of for this debt will be $6.53 Million per year with a total interest over the life of the loan of $86.3 Million making the City of Evansville’s total contribution of taxpayer dollars to these two projects equal to $163.3 Million?…one wonders why there needs to be an interest rate of 7% authorized if the good faith and credit of the City of Evansville is in good shape?…the $6.53 Million per year will strain the limits of the TIF collections and the often pledged and tapped “boat money”?…that must be why the County Option Income Taxes (COIT) are pledged to pay off these notes in Section 8 of the resolution?…Evansville seems to be at or even slightly above it’s ability to pay off this note?…THIS IS THE POINT OF NO RETURN?
IS IT TRUE that there is a tentative agreement to fix the Green River road pavement issue between the construction companies and the county that will be finalized in May of this year and repairs will take two months to complete?…that this is substantially the same proposal that the companies proposed back in September of 2013 and was rejected by then Commissioner president Marsha Abell?… that two of the County Councilmen had to intervene in the process to try to persuade the hold out Commissioner that this agreement was a good deal for the county?…that the results of the out of town engineering evaluation were inconclusive as to the cause or who was at fault and indicated the most probable cause was deep surface settling cause by a drought of nature?…that if the agreement was accepted eight months ago it would have been fixed by Christmas of last year and the residents would not have had to drive on an uneven and unsafe road for this year?…the contractors acting in good faith have agreed to fix the problem at their cost and guarantee the fix for a period of 4 plus years and we can only ask why wasn’t this done last year?
IS IT TRUE that the Vanderburgh County web site indicates the duties of the County Commissioners are to “Prepare the part of the county budget over which the commissioners have direct control†and to “Supervise construction and maintenance of roads and bridges”?…that Vanderburgh County Commissioner Marsha Abell asked in a meeting “What are we doing wrong?†with regard to roads?…that the County Engineer indicated that “our standards are nowhere near what we are finding in other placesâ€?…the Commissioners solution to the problem was to hire yet another outside engineering company to help with road maintenance?…the real solution SHOULD BE for the Commissioners to upgrade our standards for roads and allocate more funds to repair and maintain roads before they deteriorate and quit spending money on consultants, ball parks and renaming of county buildings.
IS IT TRUE the resolution to borrow $57 Million is on the following link?
IU Medical School Bond Authorization