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IS IT TRUE? September 21, 2011

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The Mole #??

IS IT TRUE? September 21, 2011

IS IT TRUE that the Vectren Corporation issued a statement yesterday afternoon in an effort to inform and clarify the benefits to the residential rate payers if approval is granted by the IURC for them to raise our monthly bills by $1.08 to pay for the installation of the so called “dense pack” technology upgrades that will enhance the efficiency of two steam turbines?…that Vectren’s statement made an estimate of what each residential customer may save over the 36 year life of the upgrade?…that according to Vectren that we can each look forward to banking between $30 and $130 over that 36 year period?…that this calculates out to between $0.07 to $0.30 (yes you read that right 7 cents to 30 cents per month) for our investment of $1.08 per month?…that everyone reading this needs to let that sink in for a second?…that Vectren’s spokesperson actually said that with a straight face?

IS IT TRUE that if each of us sends $1.08 to Vectren they think it is a great service for them to send us between 7 cents and 30 cents each back?…that there must be something that they are not sharing because that proposition is a guaranteed immediate loss of between 63% and 94%?…that the company that is making the people of SW Indiana this offer that we can’t refuse is petitioning the Indiana Utilities Regulatory Commission for a guaranteed 7.29% return on investment for the same “dense pack” gear that they wish to install?…that some things really are astonishing when you think them through?…that a four year old when offered the same deal with stacks of pennies has the good sense to think they are being tricked?…that the financial proposition of this request for ratepayers is so bad that this must be a trial balloon launched to be rejected as a distraction while something else is sneaked through while we are concentrating on our 7 cents for $1.08 offer?

IS IT TRUE that 7 cents per month can be easily saved or earned by picking up and recycling about 3 aluminum cans?…that the average person consumes 3 cans full of cold beverages per day?…that at that rate just saving each person’s aluminum cans for recycling saves more money each day than this Vectren deal saves in a month?…that whomever put this trial balloon out there must really think that the people of SW Indiana are a bunch of economic imbeciles?…that Chase Kelley, Vectren’s spokesperson says that we will hardly even notice the change in our bills?…that with an average electric bill of $155 per month that this is one thing that Ms. Kelley is correct about so let’s just all pony up our funds and send Vectren an additional $1.83 Million per year so they can buy a shiny new toy and we won’t notice it anyway?…that this upgrade is not even needed to meet EPA standards?…that if the standards are raised that Vectren says we will be ahead of the curve?…that one more time “does Vectren really think we are all stupid”?

IS IT TRUE that unfortunately we the people of Evansville are not the ones that get to make this decision?…that we have the IURC to do that for us and lately they have been getting the wool pulled over their eyes on a regular basis?…that between expensive lobbyists, political contributions, smiling spokespersons, and plain old back room coersion that this playing field will not be level when the decision is made?…that sometimes utility pricing is complex and really does need advanced analysis and a room full of actuaries to teach the IURC why a rate increase is needed?…that this proposition whereby over a 36 year period the ratepayers hand Vectren $466.46 each to get back between $30 and $130 (333% range) really is a deal that a four year old knows is not a good deal?…that we hope that the political appointees at the IURC will prove that they are smarter than a four year old and reject this ridiculous proposition?

IS IT TRUE that the City County Observer wishes to issue a challenge to each and every candidate for office in the City of Evansville’s 2011 election?…that we challenge every candidate first to make public disclosure of the full dollar value of the political contributions that Vectren, Vectren’s PAC, Vectren Officers, and Vectren Subsidiaries have made to your campaign?…that the second challenge is to make your position known on this proposition of Vectren’s to take a guaranteed 7.29% return in exchange for a guaranteed loss for the ratepayers of at least 63%?…that we offer to publish each and every candidates position without edit or bias?…that we extend the same offer to Vectren Corporation?

Jeff Dunham Coming to Ford Center

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Jeff Dunham is coming back to Evansville with his interesting and entertaining puppet show. Dunham, Ahmed, and company last appeared in Evansville at the Centre in the mid 2000’s

Link to Press Release

Ford_Center_-_Jeff_Dunham

Vanderburgh County Tax Sale Sets Records

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PRESS RELEASE PRESS RELEASE PRESS RELEASE

For Immediate Release

Sept. 20, 2011

Vanderburgh County held its annual property tax sale at the Civic Center on Tuesday. Vanderburgh County Treasurer Rick Davis played the part of the auctioneer, offering 523 properties that have outstanding property tax delinquencies from May 10, 2010, or before. The county brought in a total of $2,261,607.76 in revenues from the tax sale, far more than the $853,772.82 brought in during 2010 and $930,856.53 brought in during 2009.

On Tuesday, 169 of the delinquent property liens were purchased by bidders. Heading into the tax sale, there was a total of $1,628,002.37 in delinquencies eligible for tax sale, meaning the county auction brought in $1.4 million in surplus, more than 3 times the amount of surplus brought in during the 2010 tax sale. The 354 properties that did not sell at Tuesday’s property tax sale can now legally be taken possession by the Vanderburgh County Commissioners within the next six months and then brought before a Commissioners’ Auction within the next year.

A total of 68 bidders took part in the auction, compared to only 30 last year. Thirty-five bidders purchased delinquent liens in 2011, compared to only 18 purchasing delinquent liens in 2010. The entity with the largest number of winning bids was Inner City Remodelers, LLC, from Franklin, Ind., which bought 43 of the delinquent parcels, spending $146,163.48 in the process. Wiper Corp., doing business as Banco Popular, 7900 Miami Lakes, Fla., paid the most money, purchasing 10 delinquencies for a grand total of $442,500.

The lowest winning delinquency bid came for 816 E. Louisiana., which sold for $102.49, and went to Inner City Remodelers. The largest delinquency bid, $170,000, came from a parcel located at 5900 Oak Grove Rd., purchased by Banco Popular.

Davis credited his co-workers for helping Vanderburgh County taxpayers get their bills caught up. Treasurer’s Office staff made telephone calls to delinquent property owners this summer in an effort to remind delinquent property owners of the impending tax sale. The eligibility list of delinquent properties was at 1,447 shortly before the July 1 certification date, and the Treasurer’s Office staff helped drop that number down to just 997 properties on July 1. Further efforts by the Treasurer’s Office staff members dropped the tax sale number down to the 523 that were sold on Tuesday.

The number of bidders increased dramatically from last year to this year. Consequently, the county brought in $1.4 million more than last year at Tuesay’s tax sale.

Davis said the economy has a great deal to do with the increase in tax sale activity.

“Interest rates on investments are not paying off right now,” said Davis. “A 10-year Treasury note is earning only about 2% right now, but investors flocked here because they can earn 10% to 15% on their investment in a year or less at these tax sales, by state statute.”

Davis said a vast majority of unsold properties were vacant and the tax sale is a good procedure to get the homes back in good standing.

“Last year I talked to several businesses who purchase these liens for a living, and they said banks really tightened their grip on the amount of loans they offer for these types of investments in the past,” said Davis. “Apparently, the economic risk is now worth the reward for people and businesses who invest in these types of auctions.”

Davis noted that individuals who purchased tax sale properties on Tuesday do not actually own the property. Instead, they have purchased a lien on the property. Delinquent taxpayers have one full year to pay the delinquency, plus interest, in order to redeem their property.

Here are some historical facts and figures concerning the tax sale compared to previous years. All properties that were offered at tax sale are attached as an excel spreadsheet.

Tax sale 2006 448 properties for sale 303 sold took in 3800171.79 surplus amount 3275339.84

Tax sale 2007 422 properties for sale 288 sold took in 8904139.79 surplus amount 7798247.47

Tax sale 2008 617 properties for sale 331 sold took in 3984812.50 surplus amount 3182361.14

Tax Sale 2009 596 properties for sale 216 sold took in 930,856.53 surplus amount 402444.87

Tax Sale 2010 585 properties for sale 133 sold took in 853,772.82 surplus amount 452948.06

Tax Sale 2011 523 properties for sale 169 sold took in $2,261,607.76 surplus amount $1,407,834.94

****Surplus = Late tax amount on a home = $1,000 and someone bid $1,500 … surplus amount is $500.

A few more nuggets of information regarding Last Year’s Tax Sale:

In 2010, there were 30 bidders, and 18 different entities came away with winning bids.

In 2011, there were 68 bidders, and 35 bidders purchased liens.

In 2010, Indiana Renewal and Development LLC of Indianapolis bought the most properties: 55 (spending $104,069.12).

In 2011, Inner City Remodelers, LLC, from Franklin, Ind., bought the most properties: 43 (spending $146,163.48).

In 2010, SFS LLC of Birmingham, AL, dropped the biggest amount of money on winning bids, spending $238,807.82 on 10 winning bids.

In 2011, Wiper Corp., doing business as Banco Popular, 7900 Miami Lakes, Fla., paid the most money, purchasing 10 delinquencies for a grand total of $442,500.

In 2010, Parcel # 82-09-03-014-083.047-027; 2223 Van Bibber Ave, sold for $166.11 (lowest winning bid, purchased by Marjorie Angermeier, Evansville)

In 2010, Parcel # 82-04-32-002-650.008-019; 7221 Greendale Dr, sold for $80,000.00 (highest winning bid; went to Halifax)

The tax sale list is certified on July 1 of each year. To end up on the certified tax sale list, a property owner must be delinquent from the spring of the prior year. FOR 2011, folks who had not paid their property tax bills that were due on May 10, 2010, or before, ended on the tax sale list.

When we certified the tax sale list on July 1, 2010, there were 1,266 properties on the tax sale list, down from 1,494 the year before. When we held the tax sale on Aug. 31, 2010, that number was whittled down to 585 properties. In 2009, there were 596 properties at tax sale.

When we certified the tax sale list on July 1, 2011, there were 997 properties on the tax sale list, down from 1,266 the year before. The “eligibility list” in the weeks before the July 1 deadline was actually 1,447. When we held the tax sale on Sept. 20, 2011, that number was whittled down to 523 properties. In 2010, there were 585 properties on the tax sale list.

Inspirational Video on Dealing with Failures

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Only 1 minute and 17 seconds long

Vectren’s Dense Pack Technology Description: This is what they want an extra $1.08 per month for

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Vectren seeks to enhance electric generation efficiency;
project allows Vectren to burn less coal, lower bills and emissions

• On Sept. 13, Vectren filed a request with the Indiana Utility Regulatory Commission (IURC) to install dense pack technology on two coal-fired electric generation units at its A.B. Brown power plant in Posey County, Ind. Dense pack technology is an energy efficiency upgrade to the turbine, which allows Vectren to burn less coal while generating the same amount of energy.

• The project will cost around $32 million. The cost to the customer, however, will be offset through a reduction in coal burned; i.e. lower fuel costs.

o Note: Customers pay for fuel costs, which is the coal burned to produce electricity. This charge is passed on to customers on a dollar-for-dollar basis.

• The project will be phased in and over time will result in burning 5 to 8% less coal than today.

• Over its useful life, which is expected to be four decades, the project will pay for itself and actually produce a bill reduction (or credit) for customers. The total bill reduction for a residential customer over the life cycle of the project is expected to be at least $30 and as much as $130, depending upon coal costs and the realized efficiency rating of the dense packs.

o Note: The positive bill impacts above do not take into consideration other savings that should result from this efficiency project, including savings associated with reduced environmental compliance costs and reduced turbine maintenance costs; i.e. more efficiency translates into fewer emissions since less coal is needed and less wear and tear on the plant.

• The dense pack technology will enhance Vectren’s ability to meet current and future Environmental Protection Agency rules given burning less coal equates to less emissions. Furthermore, the project will help conserve natural resources.

• This technology has already been successfully implemented on Warrick Unit 4, which is a 300-megawatt unit located in Warrick County and jointly owned with Alcoa.

• The request is subject to approval by the IURC.

Vectren Shares Rise after announcement of Fee Increase

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Vectren Corporation stock (VVC) was up $0.77 in afternoon trading today. Coupling that with the 81.78 Million outstanding shares calculates an increase in the value of Vectren by $63 Million or slightly more than the anticipated earnings increase if the $1.08 monthly fee is approved by the Indiana Utility Regulatory Commission.

Investors seem to be betting that Vectren will maintain its pattern of success in getting the IURC to grant them increases of at or near the levels that they ask for.

City Centre says that McCurdy Apartment Conversion is a Go

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Representatives of City Centre Properties reported to the Evansville Redevelopment Commission that all of the financing needed to proceed with the McCurdy Hotel’s conversion to 90 luxury apartments is secured and will be closed no later than October 31, 2011.

The ERC proceeded to commit to extend the agreement once again to accommodate the schedule for a November 2011 start of construction. Mr. Scott told reporters in the hallway that the construction cycle will be 11 months. If all goes according to plan this would mean that 90 luxury apartments will be available in October 2012.

When asked by the City County Observer about the status of the unpaid real estate taxes City Center Properties responded that he was not certain and would have to check on that. When asked if the real estate tax payments would be made current prior to beginning of construction Mr. Scott responded that they would be. As of this morning the Vanderburgh County Assessors website still indicates that the real estate taxes on the McCurdy are in arrears by over $12,000.

Claim process expedited for victims of State Fair incident

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Victims seeking settlements asked to file customized claim forms by November 1
INDIANAPOLIS – Families of those who died and victims who were injured in the Indiana State Fair incident on August 13, 2011, are asked to complete a new customized claim form, now available online and through a toll-free number, in order to seek monetary settlements from the State.

By completing the posted claim form, victims can apply for payments from the Indiana Tort Claim Fund under an expedited process established by Attorney General Greg Zoeller. Created by law, the Tort Claim Fund is made up of public dollars and exists so that individuals can receive settlement payments from the State without necessarily having to hire an attorney or go to court.

“Our focus and our priority will be on compensating the families of those who died and those who were injured in the State Fair tragedy so that they are treated equitably,” Zoeller said.

The claim form can be downloaded from the website of the Office of the Indiana Attorney General at http://www.in.gov/attorneygeneral/2849.htm

The form also can be obtained by calling the toll-free claim-intake line at: 1-800-760-4616.

The Indiana Attorney General’s Office has hired an experienced claims-management firm, JWF Specialty Company of Indianapolis, to handle the claims intake and process forms. The JWF claims managers who answer calls to the toll-free number are prepared to assist victims with any questions about the claim-form process.

Victims and their families are asked to file their claims using the customized form no later than November 1 so that requests can be reviewed in an expedited manner. The information the form is seeking will assist the State in distributing settlement payments under a streamlined process to victims of the State Fair incident. This process is for the State’s Tort Claim Fund only, not for private charitable donations.

Before the customized form was set up, a total 21 claimants already had filed tort notices with the State of Indiana using the regular process. A tort notice is a standard legal notice that must be filed with the State before an individual can bring any lawsuit against the State. Those earlier claimants are asked to also complete the customized form and provide any requested information they had not included previously.

The Attorney General’s Office developed the form – customized for the State Fair incident – with the assistance of Kenneth Feinberg, the nationally-recognized expert who administered victim compensation funds after 9/11, the Virginia Tech shootings and the BP Gulf of Mexico oil spill. Feinberg is donating his consultant services at no cost to the State or taxpayers.

Feinberg and the Attorney General’s Office will review the claims and recommend distribution of settlement payments out of the Tort Claim Fund according to a new protocol Feinberg is developing. That protocol, setting forth the classifications of payments that each group of victims will be paid, will be announced soon.

By law the State of Indiana is limited to paying no more than $700,000 per individual or $5 million per incident to settle tort claims. In providing settlement payments on an expedited basis up to the total $5 million limit for the overall incident, the State does not admit liability. Claimants who choose not to accept a settlement offer have the legal right to pursue a lawsuit against the State, but the individual and per-incident limits on liability still apply.

Claimants legally have 270 days to file a tort claim notice with the State, however the Attorney General’s Office is informally requesting claimants file the customized forms by November 1 in order to expedite financial assistance to victims and families of victims who choose to participate. Valid claims can be filed after November 1, but funding will likely be exhausted and not available to settle those claims after that date.

The Office of the Indiana Attorney General represents the State in various legal matters related to the State Fair tragedy. By statute, the Attorney General reviews claims and makes recommendations to the Governor for his consent before any settlement payments are made on behalf of the State.

Separately, the Indiana State Fair Commission is developing a framework for distributing private charitable donations made to the Indiana State Fair Relief Fund to assist victims. Feinberg also is advising the State Fair Commission on protocols for eligibility and payment amounts from the relief fund. Since payments from that private fund will be charitable gifts, they will utilize a separate process that will be announced at a later date. The website and phone number listed above are for State tort claim compensation only, not for payments from the relief fund.

VHS Pet of the Week: “Doc”

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Greetings from Doc, a 7-month-old neutered DSH. He is a happy boy who is ready to give lots of love to his new family. Doc loves the company of both cats and dogs. In his spare time he can be found chasing bugs or running in and out of paper sacks. Doc will do well in a home with children, especially if they have a laser light he can chase or if they will throw a ball he can fetch. Doc also loves to stare out of windows, he always has to know what’s going on outside. This great cat is going to make a wonderful addition to just about any home! For more information on how to make Doc a member of your family, please call 812-426-2563 or visit www.vhslifesaver.org for more information.

Downtown Today: 9/20/2011

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Time 7:00 AM – 4:00 PM
Subject TAX SALE
Location 301
Reminder 15 minutes
MISTY @ 5251
Categories ROOM 301

Time 8:30 AM – 9:30 AM
Subject ERC
Location 307
Recurrence Occurs the third Tuesday of every 1 month effective 9/20/2011 until 9/20/2011 from 8:30 AM to 9:30 AM
Reminder 15 minutes
SARAH @ 7825
Categories ROOM 307

Time 9:00 AM – 10:30 AM
Subject SECURITY SUB-COMMITTEE
Location 318
Recurrence Occurs the third Tuesday of every 1 month effective 9/20/2011 until 9/20/2011 from 9:00 AM to 10:30 AM
Reminder 15 minutes
Angie @ 5233
Sgt. Vernon Lutz @ 7971
Categories ROOM 318

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