It took several public records requests to get it all figured out and here is how it went down:
Financing terms available to CEURA were deemed less than favorable so CEURA asked the City of Caldwell to purchase the building in the amount of $6 million from Oppenheirmer's and the Urban Renewal agency would in turn buy it back from the city over a four year period with anticipated tax revenue.
The City of Caldwell used taxpayer reserve funds from "Enterprise Accounts" for various city entities such as the Cemetery, Streets, Water, Sewer etc they had on deposit with the Idaho State Treasurer in the LOCAL GOVT. INVESTMENT POOL, LGIP for short. There are two accounts the City of Caldwell has with the State Treasurer's Office, a diversified bond investments with about $16.5 million and they had $8.5 million in the LGIP. The TVCC purchase has reduced this reserve to $2.5 million as of yesterday.
The City pulled $6 million out of their reserve LGIP funds for the TVCC building and then resold the project to CEURA for $6 million plus interest. CEURA will pay back the city over the next four years in annual payments of about $1.65 million per year. At the end of the life of CEURA in 2014 the building will get deeded back to the city. The City of Caldwell will then be in the Landlord business with TVCC.
Meanwhile the lease payments from TVCC are annually renewable and the "suggested" lease payment this year is $200K. This is less than a straight line depreciation schedule for the project. No private entity can compete with this kind of a deal given to out of state TVCC at the expense of Caldwell property taxpayers.
Good infor...makes be upset.
ReplyDeleteIf the project is complete someone should ask for the certificate of occupancy. If I were to purchase something of that amount I would want to make sure everything was complete. When I was their for a tour I saw a temporary certificate of occupancy in a frame on the shelf. Did they get everything done my tax dollars are paying for?
ReplyDeleteThis is nothing less than gambling by the city with our money.
ReplyDeleteIn the spirit of gambling, here's my bet- within 5 years the TVCC building will be Caldwell City Hall.
Any takers?
Eljay and Garret, I know you read this blog.
You should resign immediately.
I for one will know when I flush my toilet I will be contributing the the benefit of Oregon's TVCC each and every time I visit my bathroom. The interred at Canyon Hill Cemetery can rest more easy knowing they too are supporting higher education.
ReplyDeleteIsn't this what politicians call a win-win for taxpayers?
This deal brings into clarity the need to vote NO on the three constititional amendments. We need more oversight NOT LESS when it comes to the actions of politicians.
ReplyDeleteThey are using our tax money here and charging interest to us for debt we never ever had any say. This just seems wrong.
hey, i think it looks nice. we may not see the benefits now, but in 10 years, people will be thanking Mr. Nancolas for his vision.
ReplyDeleteI agree it looks very nice. Buy why are the citizens of Caldwell forced to support an out of state community college? Why wasn't this offer made to the good people of CWI which is in fact, Canyon and Ada County tax supported by a voting majority.
ReplyDeleteTVCC rent does not even cover depreciation costs. TVCC sends 20% of their student fee revenue back to Oregon. Caldwell voters got no say in the decision to build this facility. Now we find the Enterprise Fund balances have been depleted to purchase a buliding already bought and paid for by taxpayers?
It takes no great ability or vision to spend other people's money.
Why did CWI not take the deal instead of TVCC?
ReplyDeleteReally Caldwell4life? Really? I have lived in Caldwell all my life and can't ever see the "Downtown" vision Garrett and the rest of those "leaders" see. The building does look nice, it will look nice as the City Hall in 4 years too. I am just tired of our so called "leaders" spending my money on thier projects. I don't see how anyone can think they are doing Caldwell any favors by keeping business out and doing only project that fit for them and thier cronies? Quit drinking the Whaite/Nancolas koolaid and see them for what they are, cheap used car salesmen.
ReplyDeleteIn 10 years the building will be City Hall and downtown will look EXACTLY the same, with exception to more boarded up windows and even worse looking run down building facades.
ReplyDeleteWhy? Becuase Caldwell needs tax releif, not more burdons to bear. TVCC -> future city hall does not generate property taxes to pay back UR. Neither does the Airport Terminal, which "looks nice", the Sherwood Florist building, recently renovated, (owned by UR), the Train depot, and you could even through the Police station in the mix.
My point is, government owned buildings do not pay property taxes, so the rest of us have to pick up the tab for the parcels that don't, and downtown private land owners are going broke from this weight on thier shoulders.
But I guess we are making 200k a year from TVCC, on a year to year lease.
Yeah that helps. Only going to take 30 years at 100% occupancy, not calculating in interest, depreciation, or inflation.
Man, you need to wake up.
I asked that very question of both Mr. Waite and Mayor Nancolas in February of 2009. Their response was "there's room for both". I also asked for a vote of the people on this and was assured we would get the opportunity to have an "advisory vote" on the question. It was even mentioned in a story in the local paper at that point in time.
ReplyDeleteThis and the $100k coffee shop in the TVCC building are shining examples of why we need more oversight of government spending, not less.
All the property taxes generated from the property the TVCC building now sits will have to be made up by all taxpayers of Caldwell.
Urban Renewal sucks off tax dollars from Police, Fire, Schools, Streets, Water, Sewer, Highway Districts and it all has to be made up by property ownners not in the UR district. All county taxpayers get to pay for this tax shift.
The "old guard" characterised by Mr. Aldredge and their attitudes and their, "nothing shall be done without our approval" approach is responsible for the dead zone that WAS downtown Caldwell. They can't see the future. All they can do is scream about governmental abuse and hope that things collapse so that they can say "I told you so". For once, the leaders of Caldwell have taken a proactive approach. It will pay off. Most in Caldwell appreciate the leadership and vision as evidenced by the resounding defeat of the last group of candidates trumpeted by the "do nothing" crowd. Progress it is a coming - despite your best efforts. The good news is, despite your efforts, the entire community will benefit.
ReplyDelete"the resounding defeat of the last group of candidates..."
ReplyDeleteWhile two races last year in the city council election were very close, it's still not enough to overcome the grip of those that were first appointed by Nancolas. The one's in power did everything they could to win: lie, smear, and criticize new ideas. Also, who is the "old guard" you are talking about? Karen Alldredge is not part of any "old guard" that I know of? Vincent Sanchez got punished for not knowing the "old guard" and paid a serious price for running again without permission. Marlene Boucher lost to her opponent for a few reasons, plus she was never considered part of an "old guard."
Look in the mirror and you may see another "old guard" looking at you right in your pug face.
We have had 13 years of "old guard" mayoral proclamations from Mayor Nancolas along with more than a little bit of bungling of opportunites to better our city. When the going gets tough the mayor leaves town to play Pied Piper to his group of kids or some obscure board meeting.
ReplyDelete13 years in office to effect a turnaround for our downtown and the basic question is: Why all the empty buildings downtown? Millions of our tax dollars spent for what?
The Smart Growth award is a LOL deal when you consider city councilman Rob Hopper is on the SG board and the MASTER FRAMWORK PLAN was something put together by Rem Fox and Rob Pilote and presented to Nancolas in March of this year. Not a word mentioned about the people who put this study together for the city. They were dismissed and their group dismantled by Nancolas. He's an empty suit who is holding the best job he has ever had in his life as mayor of Caldwell.
ReplyDeleteI have never seen so many Anti-Education types in one place! I figure you would be happy to see another school opening instead of another un-needed firemans station, policemans donut shop or another jail.
ReplyDelete"Anti-education types" holy crap are you blind? Caldwell patrons passed a massive overide election to keep pay and benefits for teachers, passed a bond elections for a new high shcool, four new elementary schools, a bond to remodel older schools for the Freshman Academy, remodel the old Vanburen school into a district HQ and a new continuation school for high schoolers.
ReplyDeletePull your head out of your rectal area and give that bit about ANTI-Education types another minute or two of thought before you say anything more to make yourself look any more stupid than what you have already said.
Let me guess...you probably don't pay any property taxes or federal taxes but are more than willing to criticize those who do. Your kids are probably on free lunch, CHIP and anything else you can grub from those of us paying the bills.
Be aware people take it very serious when it comes to their hard earned money.
ReplyDeleteI want a prosperous Caldwell, like 99% of the people who read this blog, and this can only be achieved with new leadership in some of the positions within the city.
In addition, I find it difficult to understand when people are critical of those who criticize the "officials" who spend their money. Is it wrong to want a say in how their contribution to taxes gets spent?
Let the class warfare begin! Those who pay and those who don't.
ReplyDeleteI find striking similarities betwenn Caldwell leaderships actions and those on the National stage.
ReplyDeleteIn both circumstances, the attitude has become a "They know best" when it comes to our money and how it should be spent.
Both levels feel they need to collect our money, by way of taxation, to "help" us because we wouldn't possibly make the right choice when it comes to re-investing what few dollars extra we have into, say, our buildings, marketing, or employees.
In Caldwell's situation, the double whammy is that not only have they taxed the collective, they have put it all down on black. One last Hail Mary to revitalize downtown. It has become about the home run as opposed to the base hits in this town.
So what are we going to do if TVCC doesn't pan out to be the grand slam they were all planning on? What is the plan B?
The easy out for the current administration will be the economy. This holds absolutely no water, in my opinion, because all municipalities are suffering from the decrease in Tax revenues.
The difference is, Homedale, for example, will sputter along through the recession and may go nowhere, but they haven't thrown themselves into the hole with over the top spending, unlike Caldwell.
By way of comparison, if neither communities grow in the next 4 or 5 years, which community is better off?
What I find interesting is Mayor Nancolas' daughter took over the coffee shop in the Willows complex vacated by the person operating the coffee shop in the TVCC Bldg. You would think our Mayor would make it a priority for a family member to start her business in the downtown core area.
ReplyDeleteMeanwhile, the millions invested in downtown aren't generating a dime of tax revenue,
The city funds that contributed to the TVCC purchase will earn $780,000 in interest over the next 4 years. That's five times the amount that would be earned at the state pool. That money will be used for projects for streets, water, sewer and perpetual care of our beautiful cemetery. This financing was in the best interest of Caldwell's tax and rate payers as all proceeds remain with the city and help save interest costs for future projects by paying with cash instead of loans or bonds. There are currently 830 students enrolled at TVCC. That number is expected to approach 2,000 in the next few years. TVCC will pay more rent each year as enrollment increases to an amount around $360,000. CWI is in the mix and has been for two years but I can't disclose any of the potential plans yet. My office is open to all of you and I encourage you to come see me and I will try to answer your questions (455-4638). Paul, it's about time you buy me lunch and return the favor. The TVCC building is not planned to be City Hall. There are better alternatives.
ReplyDeleteLj your time will come.
ReplyDeleteHere's a name ..bujak
you will be caught .
Ten year of no return on taxprayers urban renewal money .
ReplyDeleteNice punt on tvcc but over 70 k gone .
Resign lj before u get caught .
Audit coming .
No mayor should be in pulbic office longer than one term (4 yrs)
ReplyDeletesomething stinks here
Resign mayor u will get caught,
Eljay
ReplyDeleteWhile I appreciate your post, it would seem that your entry has only created more questions than answers for me.
No one seems to really know what the total cost of TVCC really is. Paul's blog above states the cost of $6 Million. I am assuming since CEUR owned the land, this is the cost to construct the building alone. I have heard total price tag ranges anywhere from $11 to 16 million, including CEUR's personal coffee shop and funding of the personal property needed to stock TVCC to keep the deal afloat.
Additionally, much of the parking lot was constructed with City labor.
Either way, I simply cannot make the numbers, given the cost to build, the vacancy rate, the depreciation and maintenance, the credit of the now zero property tax income for the parcel, the extra fees to achieve gold status as opposed to silver on the building, and the CAP rate of the lease, to equate it paying for itself. Even assuming that the City did not bill for the labor from the city staff building the parking lot, it doesn't add up at 200-360k rent.
A private developer would simply not take the risk given the year to year nature of TVCC's funding from the State of Oregon and Caldwell's private property owners outrageously high property tax burden. Please clarify your $780,000 in interest comment. The number seems particularly minute given the principle invested.
Secondly, the leadership of TVCC themselves estimates enrollment numbers, both at city events and recent Idaho Press Tribune articles, to be closer to the 350 mark. Is your 830 student number all full time or are you counting the casual student and online enrollments? Although there seems to be a consistent amount of vehicles at any given time in the parking lot when I go by, the car count does not seem to translate to 830 students. There has been some on street parking on a regular basis, but certainly not a parking crisis that would be created by 830 students.
Please elaborate as to how you come to your quoted enrollment.
Lastly, I would add that although I appreciate your "open door" policy, given the CEUR meeting I recently attended regarding CEUR's purchase and operation of the Coffee shop located in TVCC, it comes as no surprise that the tax payers of Caldwell turn to Paul’s source of information rather than coming to your office or calling given the way that the CEUR board handled the public's input regarding the coffee shop.
There were citizens and business owners of Caldwell in attendance who have invested their life's savings into endeavors who had legitimate questions and concerns about Caldwell and CEUR's ownership in a business downtown. A business, I might add, that is using tax payer money in direct competition with the very same that pay those taxes.
In the end, however, after the room cleared, CEUR went about its business and approved expenditures for equipment.
It would appear, from my perspective, that the "public input" format was simply a inconvenient step for CEUR in achieving it's objectives, whether we approve or not.
We have our own Obama here in Caldwell .
ReplyDeleteWe need to run them out of town .
Oh but they got to blame someone ElJay! You must be wasting money. You represent Urban Renewal and all things evil!
ReplyDeleteI don't know what the city was getting for their $6MM but if the interest and dividends came to a lousy 4%, that $6 MM would have generated $1,019,000.00 over a four year period of time compounded annually.
ReplyDeleteHow is $780k such a great deal for taxpayers?
Hey, you are forgetting that taxpayer's of Caldwell already own the place. This slight of hand is giving us the opportunity to buy back what we already own for only and additional $780K over the $6 million we already gave to the developers. Is this right?
ReplyDeleteLj nice parking lot over our 9 million dollar creek .
ReplyDeleteMayor why is your daughter shop not downtown?
Lj why do we the tax payers own a coffee/ deli and a flower store which is now a wine shop?
Lj why are the tax payers paying for Normans building upgrades?
Mayor why would u want to hold public office for so long ..,14 yrs ?
Lj what is your job DESCRIPTION ?
Lj do u live in Caldwell ?
In response to Eljays post, the $780,000 interest is paid by Urban Renewall which is a derversion of property tax. All this buying and selling and financing and paying interest to ones self and claiming such genius to ones selfs credit is spinning into butter that sells for less than $3 a pound at Albertsons. The Caldwell property tax payer can't even profit from the butter when this smoke clears.
ReplyDeleteTVCC project is a bit tangled in ownership going into the project but I will offer what I know via public records. The Oppenheimer's bought the property TVCC sits on and the built the building with their money. The excess monies paid to land owners above appraised costs were paid by Urban Renewal tax dollars. (There is an Attorney General's investigation into UR expendatures that is ongoing since March of this year)
ReplyDeleteHow much the project actually cost is up for debate given all the "premiums" paid to land owners, city manpower used along with other city funds for the parking needs. Without the City/UR actually giving a complete and total accounting for the project we will never know the total costs for TVCC downtown.
Idaho Statutes have granted Urban Renewal agencies all over the State of Idaho "wide powers" and the door to taxpayer abuse is wide open with not a single state or local agency or citizen oversight. It is by any definition a nightmare created by the State Legislature exploited by cities all over Idaho.
Urban Renewal laws need a legislative fix and legislators who understand UR laws are well aware of this need but are loath to do anything that might put them crosswise of the local politicos. UR for the most part has deteriorated to a big pork program at property taxpayer expense.
The one think lost in all of this is the people at city hall work for us and they seem to have lost sight of that fact. On the other hand it would appear the people of Caldwell are very happy to have Mayor Nancolas and Mr. Watite decide what is best for Caldwell.
ReplyDeleteThis whole urban reenwal scheme is not an easy topic to understand but I have come to appreciate it is property taxes shifted away from schools, city services, and county budgets to create a slush fund for projects taxpayers may or may not have supported if put to a vote of the people.
This obviously has strong emotional contention regarding this debate. I could write a novel on this blog about my personal experience with the current city administration and my attempted contributions to the city of Caldwell. The truth behind much of this issue points to a larger issue that has been brewing for some time. Urban Renewal and the City have not made the best choices in fiscal spending yielding a focus on economic growth as a priority. This has led to many current and future issues that will challenge Caldwell's positive future. The current administration is reactive in nature and spends somewhat accordingly. Not all spending was or is bad but it could have yielded about 35% more to the community in my examination. The truth behind all this finger pointing is that this entire process of improving Caldwell's position in the Treasure Valley is that it is fixable. The mayor could appoint an executive team of 3-5 top level people to help manage an economic plan and its execution. But you have to be willing to do so. The current administration is not open or willing to work with people like this. I can personally attest and provide documentation as such based upon my deep involvement in the organization. When I began to look for accountability to the execution of plans, an apparent dis-interest in further helping became clear to me. To this day several programs have been shelved, delayed, and only used for marketing to the community that things are great. Well, they are not great, they are more realistically poor. Not bad; but poor. We live in a country today where we no longer can afford not to elect and appoint the most qualified officials we can find for positions of leadership and financial management. And when we cannot find those, we need to elect the people who are most willing to organize the community filling in those gaps as best as possible. The goal being a strong community pool of resources that are clearly focused every week on the growth and opportunity to build a city everyone wants to be part of. I am disappointed with the current administration because I tried to be one of those *free* executive professionals and when I started to look for accountability, drive deeper results and truly focus on the labor and effort it takes to succeed; the administration ran away and closed all the doors. Some positive changes are needed, the community needs to get involved in their township building and protect their owns investments and interests in the city they live.
ReplyDeleteThe cram down approach of the TVCC project may finally start to crack the teflon veneer that has heretofore protected Mayor Nancolas and his rubber stamp appointed city council.
ReplyDeleteBorrowing of Enterprise funds to cover TVCC building costs, a declining increment (decrement) of property taxes to CEURA along with further declining property values in Caldwell may be the swan song for Nancolas and his administration.
To be sure there have been a number of positive accomplishments. However, this does not negate all the blunders, outright missteps, and failure to involve and engage citizens in the process. There have been a number of people who put time, energy and their faith in this community only to be shunned when it got down to decision making for their efforts.
I personally had high hopes for Mayor Nancolas but he has, over time, failed to measure up to my expectations for himself as well as our community. TVCC project and the overall end results of urban renewal expendatures may be the start of cracks in his veneer and administration.
We simply will not get another opportunity to revisit and correct what was done with urban renwal funds.
Being what is done, is down, let's move forward and try to move in a positive direction in the future and elect better people to city council in 2011. I just pray that people are willing to run for elected office in the 2011 election.
ReplyDeleteAFTER 20 PLUS MILLION DOWNTOWN. WITH NOW A CITY OWN COFFEE/DELI AND BEING THE LANDLORD OF ALMOST HALF THE BUSINESSES IN THE DOWNTOWN. TELL MR MAYOR PUT UP OR SHUT UP. WHY IS YOUR DAUGHTERS JUICE SHOP ON THE OTHER SIDE OF TOWN. OPEN IT UP WITH ALL THE OTHER BUSINESSES COMPLETING AGAINST THERE OWN TAX DOLLARS.
ReplyDeleteCITIZENS OF CALDWELL RUN THIS BUM OUT OF TOWN.
I am offering a point of clarification on Robert's comment above. It is my understanding TVCC gets no money from Oregon for the Caldwell TVCC project. Funding is 100% from Caldwell taxpayers and student fees. TVCC Caldwell is a cash generator for Oregon based TVCC. They send 20% of the total fees and tuition back to the Ontario, Oregon campus unless this number has changed of late due to the new digs and the $200K they pay as rent to CEURA.
ReplyDeletePaul thank you for the clarification on my post. My post was geared more to the point that TVCC cannot commit to a lease longer than one year given the nature of its funding. This is accoring to Mr. Waite at one of the now disbanded Master Framework Plan Sub Committee meetings.
ReplyDeleteEljay, I would appreciate clarification on several other items if possible.
At the Mayors State of the City Address Garret touted that the lease with TVCC would generate $360k a year. I would be curious to what caused the 44% reduction in annual rent. Could they not afford the rent? We already know they couldn't afford the furniture based on the million dollar investment into furniture and fixtures by CEUR. Was there not a letter of intent signed before ground was broken on the project holding TVCC to the deal?
Another item that I would like clarification on is the available money for incentives via the Grant program written by Rem.
During the MFP Sub committee meetings a budget was presented stating that CEUR only had 200k available to fund Rem's concept, yet since this report was presented CEUR has spent UR funds on TVCC furniture, a turn key Coffee shop, refacing the old Sherwood Florist building and Normans Jewelers, and a parking lot for the Caldwell School District amongst other item. Which line items did these funds come from and why could they not have been used to incentivize through the grant program?
Lastly, I am interested as to your comment regarding viable alternatives to the building other than TVCC and a city hall.
Mr. Waite if you could expand on these items in addition to my previous post it would be appreciated.
Re-elect Nancolas@!!!
ReplyDeleteWhy not reelect the biggest spender of tax payer history ( our own Obama) as mayor of Caldwell
ReplyDeleteWe appreciate your comment but the reality is Mr. Obama is not likely to ever run for Mayor of Caldwell. We, as citizens of Caldwell, have the power and responsibility to hold the people we elect to city government accountable for their actions and the positive as well as negative outcomes for Caldwell.
ReplyDeleteWhat El Jay fails to say is that there won't be any interest accrued on the monies they took from the enterprise funds because they have to be paid back to those account because they are not supposed to be used for things like this they are to be used for those accounts the water or the sewer and what if something major happens from now until the loans are paid back where does the money come from or do we just raise the rates we citizens of Caldwell already pay. All they have done here is buys themselves some time, they are using urban renewel tax dollars to pay off loans they shouldn't be borrowing. Its just taking from Peter to pay Paul (no offense Paul). This administration amazes me how they can always come up with money for their pet projects but when funding for necessary services there is no money and they just won't take from other accounts to cover them.
ReplyDeleteIt's time for a total change in city hall. We have just experienced the "boom" times, but we did not "boom". Just drive through downtown - it's pathetic. Sadly, I've witnwessed the death of a once vibrant town. If we can't improve when times are good, I don't hold out much hope for improvement when times are tough.
ReplyDeleteThe only thing positive down town was the removal of dilapidated buildings that covered Indian Creek and that was not the present regime's idea - though they are plenty willing to take accolades for it.
I've witnessed city council giving the nod to fellow church members to construct various projects that have been devastating to this town. Check out the now boarded-up commercial project at 1oth & Linden. Check out the infamous "in-fill" projects that they gave the nod to. Litle ghetto-ettes. Check out the many sub-divisions they gave the nod to with the tiny lots that attract the lower-end builders and lower-end buyers. Yes there needs to be affordable housing for all, but do we need to take on all the poor and huddled masses? Then check out the 55+ senior housing out by the freeway. What's it doing out there? What services can they walk to? Although I will say you spent a lot of money on a walking path to nowhere. And then there's the Oregon college. Inexplicably, they gave them the most prime land in all of Caldwell and then paved even more of the creekside for a parking lot!!!
We need new ideas down town. You guys need to shut the front door - and don't let it hit you in the behind!
I've moved here from another state and started a business here in caldwell a few years ago and it quickly dawn on me the people elected and running this town are unqualified for their positions, just drive around our town it doesn't look like a city of over 50 million in taxes recieved yearly ..... where all the money going ? We pay taxes to help us grow and make our cummunitty better . This is not happening here folks. We need to run Caldwell Idaho u.s.a. like a business , it's just not happening here . In closing I would like to speek about the elephant in the room , nepotism, base on faith , our founding fathers die in wars for our consitution Rights and " separation of church and state " folks, wake up , something really wrong here in Caldwell Idaho u.s.a. I hope this next election u take back your town and recieve the community you deserved and are taxed for yearly.
ReplyDeleteLj not answering our question .. Is his position an elected one ??
ReplyDeleteIt seems to me this man has to much power in this town and our money .
Who is lj ? What's his full name?
ReplyDeletePeople we need to oraganize .
ReplyDeleteIm also concern of our leadership running the city Caldwell. There is no participation from taxpayers or businesses on allocated money which is taxed from us threw property taxes and a urban renewal zone tax. Mr.Nancolas has sat and appionted this board which has recieved and borrow close to 90 million over ten years. Mr Nancolas sat on this board approving all funding of projects along with Mr.lj Waite, Mr Hopper,and Commissioner Rule.Under there leadership they have killed this city and under funded our city for years to come.Our Mayor must take accountability for there mistakes,( to many to list maybe someone has the time to list them).I also drive around and see caldwell dieing everyday with nampa,kuna,meridian,boise,and even homedale moving forward. Buildings empty facing the wrong way and still close to 20 million invested by urban renewal on a building with only a year to year lease and a creek which has bought not no dime back to urban renewal. With hard times for all of us, how is this all make sence. Now we will look at some lights on the creek and Mr Nancolas may even sing a song for us... SURROUND BY NOTHING...but really folks we must change ..vote them out
ReplyDeleteThat is the KEY, you must turn out to vote them out! When only 5000 people turn out to vote they stand a good chance of being reinstated. This year everyone must show them we DO care. Vote out Blacker, Oats and Sobba this next election and I bet the mayor and the others start listening! Remember its ALL of the council as well as the mayor and ElJay that make these ludicis decisions, they ALL are to blame!
ReplyDeleteSo if we vote them all out, who takes their places? We might get something worse. I'm not keen on voting for anything until I know what the alternatives are.
ReplyDeleteBlacker and Oates need to go. Too bad we can't get rid of the other three ducks until 2013!!!
ReplyDeleteThe alternative to what we have is CITY MANAGER GOVT. If you want competent management of a $50 million company the electorial process will yield what we currently have with marginally better or even worse management.
ReplyDeleteThe down side of CITY MANAGEMENT is you have to hire and pay a professional with the right credentials and forego city council confirmation of departmental managers. A City Manager has to be able to run the city like a business with the Mayor-pro tem and city council acting as a board of directors.
Caldwell is now well over 40,000 people and we have well intended people in public office but they lack the credentials to manage a city of this size without missteps and a fair amount of bungling in the process. A competent city manager will have a background, training, education and experience to properly manage our city. People will have to step up and put this on the ballot or we simply get more of the same.
It really is amazing. The post is about how a sale was consumated and somehow the city adminstration finds facts to be subversive and not relevant to the end result.
ReplyDeleteI find this troubling.
I just found this site - I had no idea about the TVCC bldg. Why isn't this being brought to the public? This needs to be in the paper for all to see.
ReplyDeletePaul, You need to promote this site! Do you have business cards with the website address on it? Everyone in Caldwell should visit this site at least weekly. Have you considered buying an ad in the newspaper?
ReplyDelete"the TVCC purchase will earn $780,000 in interest over the next 4 years. That's five times the amount that would be earned at the state pool."
ReplyDeleteI think you're missing the point there chief. Investment property will always return more than a short term liquid investment assuming you didn't pay too much for the property. That part is obvious. You lost liquidity by draining the enterprise fund balances. There's a reason that government investments are generally restricted to low yielding highly liquid investments, that reason being that the funds are held to act as a liquid safety net not for revenue generating purposes.
Governments generally don't and shouldn't hold fund balances for the sake of making money; that runs contrary to the whole point of government (that being service maximization and optimization). If you didn’t need the fund balances in the enterprise funds for safety net purposes you should be returning it to the taxpayers by way of reduced future collections. If you need more money for something you raise taxes, have a bond election or cut spending. Governments should never be attempting to outperform the private sector by engaging in investing activity because they're rarely successful and it's a highly inefficient means of revenue generation. The taxpayer loses as they were essentially over-taxed in the first place to finance government investment activity and didn’t get to improve their own portfolio with that money while only paying the city what they needed when they needed it.
Assuming Paul's numbers are corrected a $2.5 million safety net for a city the size of Caldwell isn't much, better than nothing but still not much. If something goes wrong in one of these enterprises in the way of major maintenance or repair you'll either have to raise taxes or attempt to issue revenue anticipation bonds unless I'm missing some other option. Good luck.