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THANK YOU FOR READING SOUTH EUCLID OVERSIGHT.

DONT BE FOOLED BY THE THREAT OF SAFETY FORCE LAYOFFS WHILE THE ADMINISTRATION INCREASES IN SIZE AND SALARIES. PLEASE CLICK ON THE FOLLOWING LINK FOR INFORMATION ON THE LAND AQUISITION TAX SCHEME, ALSO KNOWN AS ISSUE 65 - SAFETY LEVY:

PLEASE CLICK ON THE FOLLOWING LINK TO VIEW 2015 TOTAL COMPENSATION PACKAGE FOR ALL CITY OF SOUTH EUCLID EMPLOYEES.





Friday, June 28, 2013

Repayment Schedule - Cedar Center Debt






To view documents below, RIGHT click on document, then LEFT click on "OPEN LINK."



Document below:  Cedar Center debt repayment schedule. 
The "total" column indicates the yearly amount owed by the City of South Euclid LESS the money allocated from the Tax Increment Financing (TIF) agreement with the Cleveland Heights-University Heights School District.  The TIF agreement is for the property now owned by Cedar Center North, LLC.  It does not include GFS – Gordon Food Service or the Bob Evans parcels.  According to the Cuyahoga County Auditor’s website, the current tax assessment for the 7 acres purchased at $1,325,000.00 by Cedar Center North, LLC is $135,686.08.  The total annual payment made by the City of South Euclid for the bond repayment schedule below will be reduced each year by a portion of the amount of the property tax assessment.  The remaining balance is owed by the taxpayers.



























Document below:  The original Greenvale 9 debt was $1.8 million.  That amount has now escalated to over $2 million.  Only interest payments have been made.  Another $2.1 million is the remaining debt brought to you for the demolition of the original Cedar Center shopping center.  Interest only payments are being made on that amount.








Document below: Tax bill summary - Cuyahoga County tax year 2012.    
     
























Please click on the link to view the Wikipedia explanation of TIF - Tax Increment Financing.

Don't miss:  "South Euclid has lost millions of dollars on Cedar Center North"


– Jane Goodman, Ward 4 Councilperson – April 19, 2010


Please also see the previous related SEO posts:

Astronomical Debt
One Lie After Another
Salaries Skyrocket Under Welo
Administrative Salaries Must Be Cut
Cedar Center Decoy
Elephant In The Room




                                                        

1 comment:

Anonymous said...

ONE MORE THING I HAVE TO SAY-
WHEN WILL EVERY TAXPAYING CITIZEN UNDERSTAND THAT GOVERNMENT IS NOT SOME KIND OF BUSINESS THAT EARNS MONEY AND IS SELF SUFFICIENT.
GOVERNMENT IS NOT A PRODUCER OF ANY PRODUCT.IT DOES NOT SELL ANYTHING.IT EXISTS SOLEY ON THE TAXING OF ITS CITIZENS.EVERY GOVERNMENT PROJECT,EVERY TAX,EVERY LAW,EVERY GOVT EMPLOYEE,PENSION PLAN,HEALTH PLAN,VEHICLE,BUILDING,
GOOD IDEA,BAD IDEA,ANYTHING AND EVERYTHING GOVERNMENT IS PAYED FOR BY US! US,THE TAXPAYERS.YOU AND ME.
BUSTING OUR ASSES TO GIVE OUR FAMILIES WHAT THEY NEED.HOUSES,CLOTHES,FOOD,EDUCATION,COLLEGE.AND OUR GOVERNMENT,LOCAL,COUNTY,STATE,AND FEDERAL TAKE MORE AND MORE OF WHAT WE HARD WORKING AMERICANS BUST OUR ASSES FOR TO PAY FOR THEIR CAREERS,THEIR PENSION PLANS,THEIR BOONDOGGLES,THEIR CORRUPTION,,,AND IT SEEMS THAT THE MAJORITY OF VOTERS IS O.K. WITH THAT!
HITLER,STALIN,POLPOT,MAO,CASTRO,,,
THESE GUYS LOVED PEOPLE LIKE YOU.

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