IS IT TRUE? August 10, 2011 Special Evening Edition

IS IT TRUE that the City County Observer is pleased to learn that the Art’s Council of Southwest Indiana has found an able replacement for Mary Jane Schenk?…that we would like to join the community in welcoming Nola Wright to the Art’s Council and wish her the best in her new venture after a lifetime as an attorney?

IS IT TRUE that City Centre Properties LLC of Carmel, Indiana that is the owner of the McCurdy Hotel located at 100 SE Riverside Dr, Evansville, Indiana is still behind on their real estate taxes?…that the amount of back taxes owed on this property is $12,274.76?…that just last week we learned that City Centre Properties LLC had taken out a loan on the McCurdy at Fifth Third Bank in the amount of $1,633,862 and that the City of Evansville holds a 2nd mortgage on the property as well?…that with this kind of cash taken out using the McCurdy at collateral one would think that the real estate taxes could be paid on time to avoid costly penalties?…that the penalty associated with being late thus far for CCP has been $2,985.34?…that the Evansville Redevelopment Commission may need to ask London Witte for a 2 for the price of 1 deal on vetting at the September meeting when hopefully the expired McCurdy deal will be discussed?

IS IT TRUE that a couple of lieutenants in the Mole Army stopped by the Sycamore Avenue Post Office today to see if we could learn something about the alleged sale of the building and the potential reorganization of that office?…that we were directed by the hardworking people in retail to the folks behind the glass?…that no one in the postmaster’s office was available to have a discussion with us?…that if we were betting that we would bet that this office does a large volume of business and that the rumors of a shut down are not grounded in truth?

IS IT TRUE that on our tour of downtown Evansville to see just how much the Arena has stimulated outside investment that what we found is a whole lot of “available” signs and empty storefronts among the bellwether businesses that are located downtown?…that we counted 37 storefronts that are either empty or available?…that we also saw available signs or ads associated with space in the old ONB Tower, the new ONB Tower, the Old Post Office, the Hulman Building, the old Sears Building, the Woolen Mill Building, the Old Courthouse, and several other buildings that do not have prominent names?…that we are waiting for the downtown renaissance to start because the magic Arena is nearly completed?

IS IT TRUE that Mr. Kish who is reportedly on vacation in Indianapolis this week has now been alleged to be not on vacation at all?…that Mr. Kish is now reported by Indianapolis based Moles to be cracking the whip on the folks at London Witte to hurry up with the vetting of the downtown Convention Hotel Proposals so that a decision can be made on the 12th followed by an announcement on the 16th?…that this would be the fastest vetting ever for a $33 Million project that we have ever heard of?…that London Witte was just chosen last week and has in all likelihood not even been to Evansville yet to speak to either the Kunkel Group or Prime Lodging LLC?…that our expectation is that this week was spent simply understanding what has been submitted and that the next couple of weeks will be spent doing a real vetting process?…that the CCO projects an announcement with respect to these bids no sooner than August 30th and no later than September 27th?…that we and others will be very interested not only to hear the decision but to review the process that leads to the final decision?

IS IT TRUE? Part 2 August 10, 2011

IS IT TRUE that the Executive Session of the Evansville Redevelopment Commission that is scheduled for August 12, 2011 at 11:15 am in Room #307 of the Civic Center will NOT BE OPEN TO THE PUBLIC?…that the SPECIAL MEETING held afterward at 12:15 in the same location WILL BE OPEN TO THE PUBLIC?…that there is much speculation surrounding the outcome of this meeting?…that there are those who are expecting a decision to be announced with respect to the decision on the developer of the downtown Convention Hotel?…that the announcement that London Witte would be vetting the proposals was only communicated last Friday?…that if a decision was reached so quickly that we would like to see the criteria used during the vetting process?…that stranger things have happened with the ERC recently but that we still expect the vetting to take a little bit longer?

IS IT TRUE that we are hearing conflicting information regarding the downtown branch of the US Post Office?…that we have information from insiders that indicate that the retail part of the downtown post office will be closed soon?…that we have inside information that indicates that the USPO will keep “operations” at the Sycamore location up and running?…that the only thing that is true for sure is that the building’s owner has put it on the market?…that there seems to be allot of commercial property owners who are trying to capitalize on the opening of the new Arena by selling their holdings and exiting the downtown?…that if they saw the Arena as highly accretive to their property that they probably would not be doing this?…that if the Arena is to inspire investment that the properties need to be in the hands of investors with cash?…that the turnover of properties into new management is actually a positive indicator for future downtown investment?…that putting up a for sale sign does not always make a transaction happen?

IS IT TRUE that our friend and ally, Great Britain is experiencing a bit of domestic turmoil in the streets this week?…that looters under the guise of “social unrest” seem to be taking advantage of the rotten economy to help themselves to the property of others?…that this brings back memories of the aftermath of the Rodney King trials in Los Angeles?…that when a gang of looters headed for Koreatown in LA determined to create mayhem and loot the stores that the Korean’s met the mob with guns to protect their property?…that the mob backed off when faced with an organized and armed group of citizens?…that if the United Kingdom enjoyed the same 2nd Amendment rights that the United States enjoys that these looters would be back home on the couch drinking beer and watching soccer right now?…that private gun ownership is why we do not report to the British monarchy in the USA?…that the 2nd Amendment is one lesson that Great Britain could learn from the former colonies known as the United States of America?

IS IT TRUE that we are very pleased at the recent statistics that show a drop in the suicides in Vanderburgh County after last year’s record high?…that with the newly aware teams of litter pickers, the EPA ruling on sewers, the renewed awareness of the problems in our parks, the realization that there will be a new administration in the City of Evansville, and a renewed focus on improvement that maybe just maybe Evansville is about to hit an upswing?…that we wish everyone a good and prosperous day?

IS IT TRUE that the City County Observer experienced a record of comments posted regarding any particular article yesterday?…that our two articles regarding the loans receivable accounts as reported by the City of Evansville in the 2007, 2008, & 2009 audits drew lots of questions and comments?…that the biggest objection to any particular loan made by the City of Evansville using public funds was a loan that was made back in 1982 to Citizens Bank?…that our readers found it to be very questionable that a 2% loan was made by the city to a bank in a year in which interest rates were well over 10%?…that it was even more objectionable that the City of Evansville has been serving as the bank’s bank for nearly 30 years and that the balance is still over half of the original principle?…that it is things like this where one giant business is given a financial advantage by the redistribution of public dollars that give city loan funds a bad name?

IS IT TRUE that if the successor to Citizens Bank which we believe is now Fifth Third Bank of Michigan would pay back the 29 year old loan in full that the $1.4 Million balance should be available for making loans to small businesses?…that if the only thing that the paid back money would be used for would be to build 6 more Front Door Pride homes that lose $100,000 per transaction that we would prefer that the loan is not paid back until the next administration is seated next January?…that making such a large loan to a BANK did not keep a corporate headquarters in Evansville and served pretty much as a Front Door Pride for Banks type of program?

IS IT TRUE that the issue of taxable income received due to getting low or no interest loans was raised?…that the IRS does have a rule that makes below market interest taxable as income?…that in an economic reality where the interest rate is 7% that a business that is granted a 3% loan should be declaring that 4% discount as income for taxation purposes?…that it is even preferred that the loan servicer should provide them with an IRS Form 1099 to document such earnings?…that we hope and trust that the City of Evansville and its below market rate loan recipients are aware and in compliance with these IRS rules?

IS IT TRUE that the changing nature of the City of Evansville’s loan portfolio has the City County Observer quite interested to get a look at the 2010 audit which should be available online in about 2 weeks?…that when this is available that we will post a link to the 2010 audit?…that we are also considering making another FOIA request to learn exactly what the present state of the loan programs are and what the receivables that the new administration will inherit?…that we hope that any remaining loan funds will not be raided for capital projects that are unrelated to for-profit small businesses during the final days of the Weinzapfel Administration?

IS IT TRUE? August 9, 2011 Special Evening Edition

IS IT TRUE that contrary to some postings today that the Vanderburgh County Democratic Party is paying market rate rent on a long term lease at one of the Kunkel Group’s properties?…that the Democratic Party pays rents of $1,266.50 every month and that this fee is a fair market rate for comparable properties in downtown Evansville?

IS IT TRUE that Evansville, Indiana my just be represented at the Little League World Series this year?…that the Golfmoor Team is two games away from the series and is the #1 seed in the Great Lakes Regional in Indianapolis?…that the next game against Hamilton, Ohio will be televised nationally at 2 PM local time on ESPN2?…that Evansville is a baseball town and that the City County Observer encourages all of our readers to tune in and give a shout out for our kids on the Golfmoor Team?…that those who can’t tune in can do a silent cheer from your work location?

IS IT TRUE that the federal reserve has pegged a date to keep interest rates at or near zero for the first time?…that Chairman Ben Bernanke today announced that interest rates would be remaining very low until at least mid 2013?…that we wonder if this is a politically motivated move to keep the regulating uncertainty of the power of the fed to tighten out of the election year thought process?…that we also wonder if the fed really has leading indicators that are indicating economic malaise for the next 24 months to justify keeping the cost of money essentially free for banks?…that many people were surprised that a third round of quantitative easing or QE3 was not announced today?…that QE is basically a cutesy term that means the fed will print more money to buy financial instruments with?…that one could easily conclude that after running the printing presses at full steam ahead for two years that the folks in Washington are finally beginning to fear the “inflation monster” that President Reagan put back in its cage back in the 1980’s?

IS IT TRUE that attorney extraordinaire Les Shively will be out of town on Thursday and has already taped his radio show for WGBF 1280 am that the City County Observer is a regular guest on?…that we encourage our readers to tune in and listen to Mr. Shively from 8 to 9 on Thursday and are looking forward to rejoining the program on August 18, 2011?…that getting the subjects that need the attention of the public to push forward good public policy is what the City County Observer is all about and that we take every chance to do so without fear of reprisal and without seeking the praise or favor of elected officials?

IS IT TRUE that Thomas Jefferson said “when the government fears the people there is liberty but when the people fear the government there is tyranny”?…that a free press that has no fear of the government is the backbone of a free and transparent society?…that it is time to put what Jefferson said into practice once again and instill a healthy fear of the people into our over confident elected officials?…that we are grateful for our readers who share that vision for Evansville?