
IS IT TRUE that Mayor Winnecke fought like the dickens to get the IU medical school to choose a downtown Evansville location and should be commended and congratulated for his well organized campaign that got him the result he sought?…it was a combination of fighting like the dickens and putting a very impressive incentive package together so IU will not feel the pinch of infrastructure improvements and the high priced acquisition of existing properties to put this project in place?…that Mayor Winnecke and his team successfully leveled the playing field between downtown Evansville and the suburban locations with a $35 Millon TIF commitment and what sounds like an additional $15 Million in spending to ready the site for construction?…at the end of the day, Mayor Winnecke got what he wanted but ended up agreeing to incentives and improvements that will cost more than the entire project was projected to cost at the Promenade?…they had better hope this works and is truly transforms the downtown because the City of Evansville is apparently maxing the last credit card to provide $50 Million for the IU Medical School and $20 Million for the hotel?…unless the revenue stream increases sources tell the CCO that this is the last major project that the City of Evansville will be able to pursue for a very long time until the tax base supports additional spending?
IS IT TRUE it may a bit euphoric to think about 2,000 students converging on downtown Evansville to pursue a medical education?…these students, faculty, and staff will indeed spend some of their money on food, drinks, and entertainment?…that euphoria that leads to very high expectations with respect to economic impact needs to be tempered a bit with the realization that about 90% of these students are already among us?…the only new people coming to Evansville are the additional medical students and faculty who choose to come here?…all of the nursing students, faculty, and staff are already living and shopping in greater Evansville and reporting for work or school at either USI, UE, or IVY Tech?…the economic impact reality is that all but 10% of the economic impact has already been absorbed into greater Evansville? …that the projected number is far short of what the impact of a brand new college with 2,000 students would be?…just as moving 200 jobs from Roberts Stadium to Ford Center does not create a single job, it must be realized that moving 1,800 nursing students from UE, USI, and IVY Tech do not create any additional ongoing economic impact on the community as a whole? …this is classic redistribution that favors and improves downtown Evansville and much of it will come at the expense of the other parts of greater Evansville?
IS IT TRUE that caution being said, the IU Medical School is a big win for the downtown and may very well spark some new investment in the form of restaurants, bars, apartments, etc?…it may even make the financing of the new hotel easier?…as for some other projects that have been floundering like the McCurdy and the Riverhouse the stimulative effects will be much less?…there is little reason to expect that a 2-Star hotel will be able to charge more or that an old folks home’s bottom line will be expanded because of a medical school up the street?…the same limiting factors of RENOVATIONS COST MORE THAN THEY ARE WORTH AS COLLATERAL will continue to blunt the efforts at the McCurdy and the Riverhouse?…these old buildings are problematic with code violations, inefficiency, neglect, and a sketchy financial history and this will not change?
IS IT TRUE the construction induced euphoria will someday come to grips with the reality that the expectations of the political mathematics will not be met and the reality that over a Billion Dollars of water and sewer infrastructure improvements mandated by the EPA are still what Evansville needs to have a real job attraction base to build on?…the IU Medical School will be big win for the downtown?…in the big picture it may not do as much as the euphoria projections suggests?…the list of  expensive future capital investments to bring Evansville into the modern world may not have changed a bit once the credit card has been maxed out to build the med school and the hotel downtown?
IS IT TRUE a positive step to restore the credibility of the Evansville City Council can happen tonight if they will do the sensible thing and scuttle the loan they approved under duress for Earthcare Energy LLC over two years ago?…they may just need that $4.8 Million to cover any unforeseen problems like pilings or earthquakes in Haiti that may add some cost to the IU Medical School project?