
IS IT TRUE September 30, 2013
IS IT TRUE tonight is the night that the hotel deal that involves subsidies of $20 Million will be the subject of discussion with the expectation to pass by a 9 – 0 vote of the Evansville City Council?…the next 8 hours should be spent by the members of the council reviewing the resolution to make sure that there are no last minute shenanigans snuck into or intentionally left out of the resolution and the development agreement that make this deal unsustainable from a direct tax projection perspective?…for the first time in a long time this deal as it is believed to be is indeed expected to pay for itself through the TIF that was established just for that reason?…at this point the two tax producing entities are the hotel and the apartments and they both need to be part of the deal or the deal will quickly be unsustainable?…if the apartments are taken off the table the only way to recover sustainability will be to eliminate the parking garage from the package?…if at any time in the future the elimination of the apartments is brought up Mayor Winnecke and the City Council need to be prepared to kibosh the parking garage to maintain sustainability of the entire deal?
IS IT TRUE with projects going forward sustainability needs to be part of a vetting litmus test for bonding and the use of public funds?…as was pointed out in last week’s City Council meeting the City of Evansville is only $85 Million away from their credit limit?…that may seem like allot of money but in reality it is only about 3 months operating expenses?…this is the equivalent of the average family in Evansville having several hundred dollars in the checking account and only $8,000 of unused credit limits available for a rainy day?…Evansville is probably only one needed medical school and a dog park away from having the credit card maxed out?…this is why the only prudent path forward right now is to put a moratorium on all public projects until the IU Medical School location and subsidy mystery is solved?…it would have been bad to lose a medical school for a hotel, real bad?…it would be absolutely idiotic to lose a medical school for a dog park, skateboard park, zoo improvements, etc. etc. etc.?
IS IT TRUE if one wants to see what happens when a government entity hits its credit limit look to the east and see what happens in Washington DC over the next few days?…yep for those who have been concentrating their attention at home and gleefully avoiding the national news there is an increasing probability that the federal government will have to “shut down†due to hitting its credit limit?…the federal governments credit limit is self imposed and can be increased by a vote of congress as opposed to a city that has to show the ability to pay the debt but nevertheless it is a serious issue that needs to be addressed?…this has happened before back in the 90’s and the reality for most people is that we won’t even notice it?…government workers who have vacation or sick time on the books will have to take some of the time to be paid but for the most part there will be little impact on everyday people in the short run?…if such a situation is prolonged it is much more serious but in the short term a government shutdown is no more of a bogeyman than the “sequester†that was touted as the end of the world as we know it but barely disrupted anything at all?…the biggest danger of a government shutdown is with the government itself?…that is because we may all figure out that we really don’t need these varmints as much as they would like to make us think we need them?
IS IT TRUE there is a bill in place and heading for the Senate that will avoid any shutdown if the Senate and the President will agree to postpone the individual mandate of ObamaCare for one year as it has already been postponed by the President by fiat for businesses?…since the government is not ready to implement ObamaCare anyway it seems like a prudent choice to go ahead and offer coverage through any exchanges that are ready starting tomorrow but to postpone the individual mandate for a year so the government implementers can get this functional?…in an informal poll of people who are without insurance when asked if they would comply there have been only two dominant answers?…those answers are NO, and “what does that meanâ€?