IS IT TRUE FEBRUARY 26, 2018

first_imgWe hope that today’s “IS IT TRUE” will provoke honest and open dialogue concerning issues that we, as responsible citizens of this community, need to address in a rational and responsible way?IS IT TRUE that the City of Evansville has painted itself into a corner again by failing to adequately maintain a building?…this time it is one of the 4 parking garages in downtown Evansville that has gone the way of our roads, water lines, and sewers?…the parking garage that has 383 parking spaces has been neglected to the point that it now needs $1.5 million in repairs?…one would think that with all of the TIF dollars that the half a billion dollars in fun and games projects should have collected that $1.5 million would be chump change and the City would get on with the repairs?…that all sounds great except TIF funds by law can only be used to build new things?…the new things that are built with TIF funds have to be maintained with other dollars or they will just rot down like the Mesker Amphitheater and Roberts Stadium did?…this is another example of idiotic governance?IS IT TRUE word in the street is that a couple members of the Evansville City Council are talking about starting a TIF District on West Franklin Street?  …we can’t wait to hear what kind of “Pie In The Sky” promises our city officials are going to make to the West Franklin Street business leaders if they agree to allow the city to established a TIF District in their area”IS IT TRUE that the City’s solution to its degrading parking garage problem is to put the rascal up for sale at a price of $1.3 million with the caveat that the buyer must reimburse the City $100,000 for an electronic entry system that the City installed in a decrepit parking garage?…between repairs, the purchase price, mandated reimbursements and fees, this parking garage is going to cost any buyer $3 million?…a new garage of this size would cost about $12 million to build?…to further emphasize the idiocy of how TIF works, it would be perfectly legal and acceptable for Evansville to spend $12 million to build a new garage but it is illegal to spend $1.5 million to repair one? …this is mind-numbingly stupid from a policy perspective?IS IT TRUE any private investor will analyze this kind of investment using simple mathematics of the expected cash flow as opposed to what a government would pay to build one?…the other three parking garages are roughly 50% occupied at a rate of $50 per month?…that means the revenue expectation for the $3 million garage would only be $115,200 per year?…the sale price for rental properties like parking garages average no more than 10 times revenue?…that means the maximum value of the expected cash flow is about $1.15 million?…that means that no one who intends to use the three other garages as comps would be foolish to pay more than $1.15 million in total for this neglected garage?…given the repairs needed and other costs the value of the parking garage “as is” would calculate to be NEGATIVE $585,000?…Evansville is underwater in this parking garage and will most likely have to pay a savvy investor over $500,000 to get rid of this neglected property?IS IT TRUE that Saturday’s rains and the swelling rivers caused so much trouble in the City of Evansville that Mayor Lloyd Winnecke issued a statement letting everyone know that the sewer system was full?…so much water has filled the decrepit old system that the sewer is emptying into houses that do not have back flow prevention devices?…we have to wonder how much discomfort this is going to cause during a year where the flu is rampant?…this would not be so insulting except for the reality that the City if Evansville has spent more than a decade avoiding making repairs to the sewer system that is so bad about dumping raw sewage in the Ohio River that the federal EPA has mandated a repair?…one administration after another has borrowed Evansville into a maxed out level on political pork barrel and fun and games projects?…we hope Saturday and the Winter of 2018 is a reminder to the citizens about just how irresponsible the past and present city government has been?IS IT TRUE the organization of CAJE (Congregation Acting for Justice and Empowerment) worked jointly with Aurora to advocate for a new caseworker position at Aurora last year?  …we commend Vanderburgh County Commissioner Ben Shoulders for continuing to work with both CAJE and Aurora to find funding for this much-needed position?  …that the President of the Vanderburgh County Council publicly committed to supporting the funding of this position at the annual CAJE meeting?  …we are now hearing that the Vanderburgh County Council President John Montrastelle may be “back stepping” on his commitment concerning the funding of the caseworker position? …we hope that the Vanderburgh County Council President John Montrastelle will step up and convince County Council members to help to provide the funds for this new position at Aurora?IS IT TRUE attached is a link to an article about prevailing wage crucial for construction workers published by Capitol Weekly that we hope you find interesting:http://capitolweekly.net/prevailing-wage/Todays “Readers Poll” question” Is: Do you feel that its time that our elected officials should look at making some adjustments in our gun laws?Please take time and read our articles entitled “STATEHOUSE Files, CHANNEL 44 NEWS, LAW ENFORCEMENT, READERS POLL, BIRTHDAYS, HOT JOBS” and “LOCAL SPORTS”.  You now are able to subscribe to get the CCO daily.If you would like to advertise on the CCO please contact us [email protected] LinkEmailSharelast_img

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