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Saturday, August 16, 2008

Irreconcilable Details

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Please click on image below to view full size.

There appears to be some discrepancies regarding the financial details as reported in The Plain Dealer article and The Sun Messenger online post above.

  • The Plain Dealer reports the city "paid out about $311,000 in 2007 property taxes." According to the loan application submitted to Cuyahoga County, the city stated the the taxes were $460,526.22.

  • Per The Plain Dealer regarding the Cuyahoga County Port Authority, "It also will issue bonds to repay the $1.08 million unforgivable portion of short-term county redevelopment loans used to demolish the old buildings and clean up the site." - If this scenario is fact, the County Department of Development lends the money and forgives 40% only to have the County Port Authority step in and pay the "unforgivable" 60%. Now that would be convenient. The Sun Messenger account states, regarding that same loan from the county, "The money the city is determined to owe will be repaid by the Coral Co." - Which explanation, if either, is factual?

    Please review the edited version of the "Commercial Redevelopment Fund Public Entity Application" below. This will highlight the inconsistencies noted above. To view the entire application, please refer to the following link:

Please click on image below to view full size.

An interesting observation regarding the relationship between the City of South Euclid and the Cuyahoga County government:

From 1996-1998, Georgine served as the Co-Executive of the Cuyahoga County Democratic Party after being appointed by Cuyahoga County Democratic Chair Jimmy Dimora. In 1998, she was appointed Administrative Bailiff to Judge Ann T. Mannen, in the Cuyahoga County Court of Common Pleas.

  • Is it possible that the relationship between Dimora and Welo facilitated easier access to County funds for South Euclid projects?

The city boasted on their website of - "A well attended Inaugural Ceremony represented by the following officials: Judge Patricia A. Kleri Cuyahoga County Commissioner Jimmy Dimora Cuyahoga County Auditor Frank Russo State Rep. Kenny Yuko, House Dist. 7State Rep. Lance Mason, House Dist. 11 U.S. House Representative, Stephanie Tubbs Jones "

  • The photo below was taken at the Inaugural Ceremony for South Euclid City Council members, Edward Icove, Moe Romeo, Jane Goodman and Ruth Gray on January 03, 2006:

Below is a partial copy of a letter from the Law Director of South Euclid regarding Cedar Center. It has been edited to leave only information with relevance to that topic, except the fabulous quote which is boxed in green. The entire text of this letter can be viewed at this site "More Evasive Maneuvers ," posted on June 29, 2008.

Please click on image below to view full size.

Please click on the link below to review information regarding the Cuyahoga County Port Authority and their recent adoption of a "development - finance policy" pertaining to their withdrawal from financial support of suburban retail projects as reported by The Plain Dealer. If the Law Director is giving accurate information in his letter, there is currently NO agreement between the City of South Euclid and the Port Authority pertaining to Cedar Center. Wouldn't their new policy prohibit the investment of County funds into a shopping center?:

Below is a timeline of events as reported on South Euclid Oversight. These posts detail financially significant events. They have been selected from all the posts at South Euclid Oversight to represent a pattern of spending and decision making by this City Council and Mayor.

  • Sunday, March 25, 2007 QUOTE

Posted by at

4 comments:

Anonymous said...

I am still trying to figure out what that Plain Dealer article says...it doesn't really say much of anything other than "community redevelopment can cost taxpayer dollars".

Thanks for that brilliant insight, Plain Dealer.

But what I gather from that article is this: the city is on the hook for upwards of $20 million worth of property / expenses and until the day comes that Peter Rubin formally purchases the property from the taxpayers, there's a very real reason to believe that this deal may not go through.

If I'm not mistaken, did the Sun Messenger not report a few months back that demolition would begin on August 1st? From the sound of it, the city still has not lined up the necessary funding to even begin the environmental remediation, nevermind the actual tear-down.

August 16, 2008 at 11:56 PM
Cappy said...

I demand that Welo personally reimburse the City of South Euclid for any doughnuts Dimora inhaled at the event. That could have cost millions of dollars!

August 17, 2008 at 8:14 PM
Anonymous said...

So, it turns out that several major developments in Houston have been curtailed due to bank lending being put on hold.

http://www.chron.com/disp/story.mpl/front/5948418.html

If a major growth town like Houston is having this kind of trouble, what does that portend for us? I'm guessing being stuck with the bill...

August 17, 2008 at 11:05 PM
Anonymous said...

Huh - so Welo is a friend of Dimora and Russo? Especially in light of the port authority turning away from Retail, I wonder if we're going to have to look into the coziness of her relationships with these fine upstanding gentlemen?

August 17, 2008 at 11:06 PM

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