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As of Thursday, February 21, 2013
© Copyright 2013
"Haven’t the tax-paying citizens of Albany given Cutliff Grove enough? First it was $364,000 on a failed project. Now they want another $750,000. When does it stop? I say now."
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I still say take it back and call a successful property manager and offer it the him or her for the balance due and cut it loose. Stop these crazy business dealings and stick to the proposition of governing - streets, safety and sewers.
Who is the person that make the final decisions on these crazy business ventures? How much has the city lost on bad decisions? What a bunch of goof balls..
Our Great city commission makes the final decisions. Kind of makes you feel warm and fuzzy knowing not one of them has any idea how to operate a successful business much less have a clue what to look for in making wise business decisions. Maybe just make Piker their brain-man and anything he decides then do the opposite, at least they would have some idea of which direction is smart and which is a scam for more “Free Taxpayer Money”
Pike is already on the Long-Term Finance committee for the City. Your wish came true before Adams left office. Thank Slick Willie for that one.
I find it quite ironic that some of these "tax exempt" organizations are sticking their hands out for taxpayer's monies. But when there are questions about how money is spent CG refuses to cooperate. Let's refuse to cooperate on giving them any more money.
I believe the Lawyer is right. For the City to do what is requested would be an illegal gift. So I am waiting to see how that plays out.
Since when has the law affected their decisions?
I am with Fryartuk, take it back, take it all back. They want to use scare tactics so they can get what they want. Did the city ever think that they only had less than 10 cents on the dollar to build these apartments, how were they going to manage them. Albany needs to start banning low income housing instead of enabling them to come here. A town can handle only so many and it starts to decline. Look at Russia. They were finally able to get back on tract from being Socialist. Giving away your freedom to make a living to deadbeats hurts a town, a school, a country. Nothing good will ever come out of it. We are a fine example of what not to do.
Ask the State to come in and investigate to see if there was any kickback. This is an awful lot of money for an enterprise that only generates $200,000 per year gross and what $25,000 net. Whoever approved that is an idiot or was paid.
Is it any wonder people have been leaving Albany for the past 30 years, school enrollment is declining, tax money is declining. Please stop this stupidity now. Albany's biggest enemy is itself.
"Haven’t the tax-paying citizens of Albany given Cutliff Grove enough?"
No. It will never be enough. The more you give - the more they expect.
The folks that run Albany and Dougherty need to be set down by prominent community members and be made to understand that their personal agenda are not what they were elected to do.
Then again, there is always a GJ that needs something of significance to investigate......
Start by examing the luxury imports driven by the church staff and those who "worked" for the cooperative. While you're at it, do the same for Mr and Mrs Lorenzo Heard et al. They gettin' multiple millions ov'err.
The housing on this project was constructed by Mission Outreach Center, another non-profit who borrowed $2,5 million in Feb 1997 from DCED for the construction. This loan was foreclosed on and when the property was resold to Cutliff in 2008, the new loan amount was reduced to $1.5 million. Thus, it had already been written down by $1 million before Cutliff acquired the property. The proposed write down by Cutliff would raise the amount "lost" to $1.7 million on a project that cost $2,5 million.
Has anyone told you this? No. We simply can't afford to have DCED and the city in the housing business. It seems all the deals don't work in our favor, right?