IS IT TRUE April 12, 2013

IS IT TRUE the City of Evansville received good news yesterday from two major bond rating agencies that will enable the City to refinance some existing Water and Sewer Department debt?…this will go a long way toward helping the City save approximately $400,000 per year on the debt service of these bonds over the next 10 years?…the City County Observer encourages the City to take this money saving step that is small in the big picture as it only saves 0.16% of the annual budget but it is savings none the less?…we also encourage the City to consider maintaining these high bond ratings when taking on additional debt as there is still that $500 Million combined sewer overflow problem that cannot be kicked down the road indefinitely?

IS IT TRUE that Casino Aztar has executed a purchase contract to own the building that used to be Fast Eddy’s?…the company that owned the building, 507 Properties LLC was a different company than the company that actually owned and operated the restaurant River Rock Café Incorporated that recently filed bankruptcy claiming to have only $3,481 in assets against liabilities of $180,697?…this makes two failed businesses that Aztar now owns the buildings of?…Aztar has a real estate portfolio that includes both Fast Eddy’s and Stoney’s real estate?…as Aztar rebrands itself into the flagship name of Tropicana it will be interesting to see just what gets done down at their complex?

IS IT TRUE the Vanderburgh County Council is going to have to tighten its belt a little bit or bust it’s budget too?…a $1.5 Million shortfall was recently found in the $51 Million budget which is just on the order of 3% that will need to be cut or found in some slush fund?…to put this into perspective this is like the average American family that earns about $51,000 per year having to deal with a $1,500 pay cut?…between the 2% Social Security tax increase and the increases in gas prices every American family has had to deal with such a cut this year already?…there did not seem to be much concern on the part of government for those families who faced this tax increase?…the collective taxing units across the county are whining that the property tax caps are going to cause them to lose $22.5 Million this year?…if that is truly the case we have to wonder how they would have spent the extra $21 Million had there been no tax caps?…it has not been that long since the tax caps went into effect and it is already forcing government to spend more responsibly?…without the caps we are certain that the spending machine of local government would have burned through that $22.5 Million and still cried poor?

IS IT TRUE the sure fire way to our government to collect more money is to create an atmosphere that allows private business to make more money and hire more people?…subsidizing one business with its competitors money is not a moral way to do such a thing?…the City of Evansville is hell bent to take tax money from existing businesses to subsidize retail, restaurants, and one single hotel in downtown Evansville?…this is not only an insult to every other business in Evansville it is a redistributionist mentality that is more fitting with a communist banana republic?…putting in sidewalks and sewers to promote commerce is indeed the governments job?…picking winners and losers in the marketplace the way the “pre-development” agreement the City just signed does, undermines private enterprise?…we are going down a slippery slope that discourages other new investments and incenses existing business owners?

IS IT TRUE the CCO would like to congratulate its webmaster Daniel Wallace for being named the “Outstanding Graduate” for the IVY Tech Business School for 2013?

IS IT TRUE your Evansville Redevelopment Commission has finally done something that no one with any common sense whatsoever would have ever even dreamed possible?…the ERC under the thumb of and the recommendation of the Mayor of Evansville has signed an agreement that has been christened as a “pre-development” agreement in which the party that the City of Evansville is in the middle of a negotiation with will be paid to negotiate by the City of Evansville?…we should all step back a minute and think about this one and the tone of utter desperation that it sends when one is so hard up for business that they are willing to pay a prospective supplier to sit down at the negotiating table?…this takes desperation way beyond paying stipends to build lofts or $600,000 parking lots, this makes this fair city look as desperate and dumb as desperate and dumb can get?

IS IT TRUE that this “pre-development” agreement does put some pretty good estimates on just how much money the City of Evansville will be spending to get this development completed?…the DIRECT SUBSIDY for this $70 Million project that now includes retail space and some condos is stated to be $37.5 Million?…when one throws in the value of a certain to be 10 year tax abatement the public contributions to this $70 Million project rise to $48 Million or 69% of the total estimated cost of the project?…$20 Million of the city hand outs are specified as for the hotel?…we hope you all remember back in 2010 that the City County Observer was the first to predict that the City of Evansville would have to cough up $20 Million to get a hotel developer interested in putting a convention hotel in downtown Evansville?…at that time the ERC, the Office of then Mayor Weinzapfel, and members of the County Commissioners repudiated our article and denigrated the author?…those who are willing look into the mirror of time on this issue and many others need to think carefully about the judgment of a cast of characters who just agreed to do what was accurately predicted yet scoffed at by them?…all of the players in the hotel game in 2009 and 2010, here is a big raspberry and a we told you so from the City County Observer?…we wonder if ARITHMETIC or common sense are requirements for public office or political appointment?

IS IT TRUE something is being floated in New York City that really makes you wonder about the minds of people who are drawn to elected office like a moth to a flame?…the disgraced former Congressman Anthony “wanna see my” Wiener has floated the idea of running for Mayor of New York City?…one would think that a person who was exposed (no pun intended) for intentionally exposing himself over a long period of time would have the good sense to get on with his life and try to earn a living outside of the scrutiny of politics?…Wiener must have an ego the size of Texas and have no concern for the negative publicity that will come upon his family to utter such ambitions?…the rigors and scrutiny of running for office does indeed take a person who is insecure enough to need the smiles and handshakes more than they value privacy?…there are such people and Anthony Wiener must really be an alpha version of a career politician for narcissistic reasons?…there are many such people and some live right here in Evansville?

IS IT TRUE the $18 Million ballfields are back and this time they are $13 Million ballfields?…if the song remains the same about “Million Dollar Ballfields Forever” then the argument against shall remain the same of “if the rest of the world can build ballfields for under $500,000 each then why can’t Evansville figure out how to do the same”?…whether the location ends up being where a golf course is out by the airport or the Goeble Soccer Complex the price remains too high for 8 ballfields?…we do recognize that some people will come to town for tournaments and that there is some value to this project but still do not think over $1 Million per ballfield is a wise use of tax dollars?…we further predict and we have a pretty good record of predicting things involving irresponsible spending that the CVB and local government will invent some justification to bond the cash stream from the Innkeepers tax for the next 20 years so they can throw parties to entertainment today at the cost of all other projects for the next 20 years?…the CCO would like to nominate the crew from Duck Dynasty to run the City of Evansville?

IS IT TRUE we have TWO more predictionS?…the CCO predicts that even if 10,000 people take to the streets to protest against a $48 Million hotel hand out by local government that YOUR CITY COUNCIL WILL VOTE YES?…we are beginning to believe the rumors about the City Council being in Mayor Winnecke’s pocket?…no matter what anyone says, proves, or does, this goose is cooked and you taxpayers of Evansville can not do one thing about it?…our final prediction is that THE PEOPLE OF EVANSVILLE WILL VOTE THESE SAME PEOPLE BACK INTO OFFICE REGARDLESS OF WHAT THEY SPEND?