IS IT TRUE that the City County Observer will be checking everyday from now until Halloween to see if the real estate taxes have been paid on the McCurdy Hotel? …that on the morning of September 22, parcel #82-06-30-020-005.002-029 also known as the McCurdy Hotel and located at 100 SE Riverside in Evansville, IN indicates that there is still a delinquent tax amount of $12,274.76?…that if we can report that the taxes are paid on this property that the CCO will become more enthused about the proposition of this project moving forward?…that it has now been 2 full days since Mr. Steve Scott was advised that the taxes on the McCurdy Hotel have not been paid?

IS IT TRUE that we were all treated to the announcement yesterday that the City of Evansville will be installing a charging station for electric cars in the downtown parking garages?…that to the joy and benefit of a very few people the City will be absorbing the cost of the electricity that the lucky people who are first in line use to charge their batteries?…that this is the same thing as buying someone a tank of gas per day?…that depending on the speed of the charging station then maybe the City of Evansville will be filling a couple of tanks per day?…that as progressive and green as this may sound it is really nothing more than one more redistribution of wealth from the slow to the fast?…that we support placing the charging stations in the parking garages but that we think it is much preferred if the patrons of the parking garage pay for using the charging station?…that the City of Evansville could actually create a revenue stream by installing multiple charging stations in the city parking garages?…that we wonder just why government entities continue to think the best way to do business is to give things to people at the expense of other people?

IS IT TRUE that the question of whether or not the Evansville Redevelopment Commission has learned any lessons about VETTING from the downtown Convention Hotel experience?…that one would think that City Centre Properties LLC that got a round of applause for saying he had financing in place to proceed with construction would be VETTED just like the hotel proposals are being VETTED?…that it really seems like that lesson was not learned?…that not being able or willing to pay $12,274 in real estate taxes does not seem to be a good indicator that this business is even a player in a $12 Million project?…that this financing package is straight out of the playbook of the mortgage meltdown that caused the banks to stop lending in the first place?…that one would think that the Browning/Woodruff experience would have reinforced the lesson that VETTING is necessary in public projects?…that this will be quite embarrassing to the City of Evansville and the ERC if this deal has any hitch at all?…that the ERC should be on the safe side and check these guys out now that we are four years down the NO MONEY DOWN highway?

IS IT TRUE that Mr. John Kish stood before the Evansville City Council and said that Klenck Construction may get stiffed for the work that they did to demolish the old Executive Inn parking tower on City of Evansville property because public property is not subject to mechanics liens?…that Indiana Law I.C. 5-16-5-1 et seq. does not necessarily support Mr. Kish’s assertion?…that publicly owned property or buildings are lienable only to the extent of the unpaid contract price?…that is not as protective of construction companies as it is with private property but it does seem to state that a mechanics lien may be possible on local government land?

IS IT TRUE? September 21, 2011

IS IT TRUE that finally the words that the Evansville Redevelopment Commission, the City County Observer, and a host of others had been wanting to hear regarding the McCurdy Hotel were spoken yesterday by Mr. Steve Scott of City Centre Properties?…that those words in the status report were “our financing will close by October 31st and we will start the refurbishment in November”?…that this brought smiles of relief and applause all around the room?…that we had all better hold our rabbits foot and cross our fingers that this does not vaporize like many other such statements have over the last four years since the press conference announcing this project?

IS IT TRUE that when the City County Observer asked Mr. Scott after the status report if the real estate taxes on the McCurdy have been paid that he said he would have to get back to us on that?…that when he was told that the Vanderburgh County Assessors website indicates an overdue balance in the amount of $12,274.76 yesterday morning that he had little to say other than that he would have to check on that?…that this amount when compared to the total cost of this project is only 0.10% of the approximately $12 Million total?…that having an overdue tax bill of $12,274 (0.10%) is not an indicator of financial strength and makes us a bit pragmatic regarding getting enthusiastic for this project really moving ahead?…that an equivalent scaled transaction would be making a deal for a $20,000 car and not having the $20 (0.10%) to pay the recording fees?

IS IT TRUE that on the morning of September 21, parcel #82-06-30-020-005.002-029 also known as the McCurdy Hotel and located at 100 SE Riverside in Evansville, IN indicates that there is still a delinquent tax amount of $12,274.76?…that if we can report that the taxes are paid on this property that the CCO will become more enthused about the proposition of this project moving forward?…that the RFP for the downtown Convention Hotel required developer equity to be invested?…that whichever company chosen to develop that hotel will have significant skin in the game from day 1?…that the financial details as presented regarding the McCurdy project calls for absolutely ZERO DOLLARS of developer equity?…that between City of Evansville direct contributions ($1.403 Million), US Park Service Tax Credits ($1.8 Million), an FHA backed loan ($8.2 Million), and a bridge loan of $1.8 Million that this is a classic NO DOWN PAYMENT deal that is financed or guaranteed with GOVERNMENT MONEY?…that as much as the McCurdy will be a classy addition to a slowly developing downtown Evansville, it is just demoralizing to see out of town people getting a 100% financing package from the people of the United States to do this?…that we also wonder just how much of a market there is for luxury apartments?…that we shall see as this unfolds?

IS IT TRUE that we are quite pleased that the park at 4th and Main will be getting a facelift and reliable stewardship?…that this park has gone from being a nice place to sit for lunch to a gathering place for street people and drug dealers?…that it is a wonderful thing that the Kempf family is partnering with Keep Evansville Beautiful to do and we are looking forward to spring of 2012 when the work will get started?