As I expected, there were many more people speaking in support of Council committing the taxpayers to finishing the new building than opposed. Most said how great it will be to have the new Community Building, but only a few spoke to remind everyone of the taxpayer financing of it.
The CCA asked that Council provide a "loan" to finish funding. Of course no one reminded the Council that there is no actual loan to the CCA since the CCA is not actually spending any money. Council will just refinance their existing municipal bond and add another $1.5 million or so to it to provide the ready cash when it is needed for construction. Although CCA said they will continue to raise funds once the construction contract is signed, the O'Hara taxpayer is on the hook essentially forever. I hope that CCA puts forth maximum effort, but, as many people there said, there is no guarantee that CCA can or will raise enough money.
A poll of the Council shows that a clear majority (at least 5 members) are voting to go on with the project. Bob Smith waved around a piece of paper that he said was a summary of his campaign promises of his several elections. One item on it was his commitment for the new building.
When I quoted Huck Vogel from March 4, 2014 when he said that he would max out O'Hara's commitment at $2 million, he said he was standing by that commitment, but insisted that "this just a loan, not giving it to CCA." The problem is the Twp. is taking out the loan, not to give to CCA, but to put it toward the building. So I ask, "What is the difference?" The taxpayer is responsible for paying it back, not the CCA. So Council is obligating the tax payer for $2 million out of reserves and $1.5 million in new borrowing. I see no difference since the taxpayer pays it all if CCA fails to raise more cash.
Those people who called or emailed me should not bother to come to the next meeting since the majority of Council has committed to the full project, including all extras.
Tom Portante
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