Suggestions from a business prospective on City debt reduction.
Ladies and Gentlemen, it has been suggested that we start a thread for the Ad Hoc purpose of discussing how to reduce our debt in Crestwood until things get better (if they ever do.)
As most of you know I have spent over 40 years in business management from working for others to owning, running, and retiring from the HVAC field only to return for another fourteen years of fun. That will come to an end on June 28, 2012 when I retire for the second time and take up consulting to the industry locally.
The above outline is given only so you know I have more than a passing idea of how and what it takes to succeed in good and bad times. We now face the 'bad' times what with the Courts closing, and the general business climate in disarray. The chance of the Courts reopening any time soon is Nil as even if they started tomorrow (they won't) it would be five to six years before we saw any revenue from the new entity.
Now what would I do if this were a business I was placed in charge of? Well the first thing would be to have an audit preformed on EACH department so I would know for sure what was, and was not vital to running same. Secondly I would review the managerial salaries of each department head and if needed ask the managers to take a cut until we get back to profitability. Third I would review EACH position to determine what was needed and what was in fact an amenity and not a necessity.
Once these things were evident I would then make the hard decision to cut employees, excessive salaries, vehicles and equipment not needed, and place a strict budget (no exceptions, no summer interns, no fooling) in play for ALL the department heads. Would it surprise you that there is a budget request for an 'intern' in the Public Works Department? It did me as we can't afford this sort of thing now even if it's a close friend or relative you want to put to work!
The bottom line is to close what is not needed or is a duplicate service (both County and we provide,) cut where it must be done, and then run on an austerity program till the economy perks up, or we have more revenue.
We elected representatives to speak for us and to vote the way their constituents wanted them to vote, not just rubber stamp any willy nilly idea that comes before them. That said, they need to step up and make the hard decisions needed for the foreseeable future, else were in trouble.
I have heard the words 'tax increase' so many times it's pathetic! I am more than willing to make PROP -S a 'full time' increase, and I bet all of you would join me in that endeavour as well. However I oppose any further increase until and when the City fathers decide to make the changes above (or ones like them) to reduce the excess spending.
Well now you have my ideas on what must be done (and very soon) to stop the bleeding, so may I have yours?
Tom Ford
NO. 1028
As most of you know I have spent over 40 years in business management from working for others to owning, running, and retiring from the HVAC field only to return for another fourteen years of fun. That will come to an end on June 28, 2012 when I retire for the second time and take up consulting to the industry locally.
The above outline is given only so you know I have more than a passing idea of how and what it takes to succeed in good and bad times. We now face the 'bad' times what with the Courts closing, and the general business climate in disarray. The chance of the Courts reopening any time soon is Nil as even if they started tomorrow (they won't) it would be five to six years before we saw any revenue from the new entity.
Now what would I do if this were a business I was placed in charge of? Well the first thing would be to have an audit preformed on EACH department so I would know for sure what was, and was not vital to running same. Secondly I would review the managerial salaries of each department head and if needed ask the managers to take a cut until we get back to profitability. Third I would review EACH position to determine what was needed and what was in fact an amenity and not a necessity.
Once these things were evident I would then make the hard decision to cut employees, excessive salaries, vehicles and equipment not needed, and place a strict budget (no exceptions, no summer interns, no fooling) in play for ALL the department heads. Would it surprise you that there is a budget request for an 'intern' in the Public Works Department? It did me as we can't afford this sort of thing now even if it's a close friend or relative you want to put to work!
The bottom line is to close what is not needed or is a duplicate service (both County and we provide,) cut where it must be done, and then run on an austerity program till the economy perks up, or we have more revenue.
We elected representatives to speak for us and to vote the way their constituents wanted them to vote, not just rubber stamp any willy nilly idea that comes before them. That said, they need to step up and make the hard decisions needed for the foreseeable future, else were in trouble.
I have heard the words 'tax increase' so many times it's pathetic! I am more than willing to make PROP -S a 'full time' increase, and I bet all of you would join me in that endeavour as well. However I oppose any further increase until and when the City fathers decide to make the changes above (or ones like them) to reduce the excess spending.
Well now you have my ideas on what must be done (and very soon) to stop the bleeding, so may I have yours?
Tom Ford
NO. 1028
posted by Crestwood Independent at 07:23
51 Comments:
again I ask, if there was a million dollar surplus, what bleeding needs to be stopped?That is contrary to being in such horrble shape. I don't know who to believe. You say we're dying, there's no money, a terrible catatrophe is on the way. The city says there's a million dollar surplus, we're okay, not great, but still okay.
7:59 AM Blogger: The 'surplus' is $850,000.00 not a million. That said in discussion with Alderman Foote yesterday HE is the one who said were 'dying,' not me.
However we will need to make cuts and very soon as the revenue is less and the expenditures keep going up due to cost increases.
Unless we stop the excess spending we will have a problem, OK?
Tom Ford
Crestwood needs to live within its harvest ( like we all need to do).
I think an independent audit is the first step to identify expenditures.. ( I bet a 'few' surprises pop up).
However having said all that.. I doubt if the BOA and the Mayor ( with the exception of alderman Foote)
has the courage to step on anybodys toes..as the tail continues to wag the dog in Crestwood (not a referance to the dog catcher by the way).
Prove me wrong.
Just because we are solvent is no excuse for wasting money is it?
9:02 AM Blogger: Correct (not sure about Alderman Foote though.) Now let's see who can refute you're bit of accurate wisdom.
Tom Ford
An audit is just another unnecessary expenditure. We have a finance director, ways and means committee and department heads. Who knows their reports better than these. The issue is can the department heads truely manage; have they ever been put to task to justify positions, man power and equipment? If their jobs depended upon their findings, we might get the right answers.
Before I suggest a business prospective, I want to find out makes us proud to live in Crestwood. This question has been asked before on this blog with only a couple of answers.
You see, if your not proud to live here, why should someone invest their time and money in a business in Crestwood?
An Audit usually save more money than they cost.. especially when there hasn't been one for a long time...Managers get complacent build empires...convince others that they need something they don't...etc..
People who dont want audits fear them...for good reason.
I used to feel proud to live in Crestwood now all I feel is shame.
12:59 PM Blogger: You nailed that one my friend. I really believe that while we have an outstanding finance officer he can only that what the department heads feel him.
This is not a negative reflection on anyone, just good sound business practices. Ask the Mayor how many audits he sees per year at Edward Jones, no difference here.
Tom Ford
I like Crestwood very well. I love our quiet streets and small, family-friendly neighborhoods. I like that we are in the Lindbergh schools. I like the trees and parks. I like our own police, fire, animal control, etc. I have lived here many years, and these are some of the reasons why. We bought here originally because of the neighborhoods and the schools.
1:00 PM Blogger: No need to feel ashamed, what you need to feel is a burning need to get involved and make this town the great community to raise a family that everyone says it is!
Get involved, go to the meetings, call your Alderman, but do not just sit there and feel ashamed or sorry for yourself.
Tom Ford
1:00 PM Blogger: Take a look at the post I have attached here and just equate it to Crestwood.
If you do that I believe you will see what needs to be done.
http://www.youtube.com/watch?v=zqAgmrSimx4&feature=related
Tom Ford
I attended a planning and zoning meeting Wensday to approve an application of a special permit for a new and unique entertainment business to occupy the empty Value City building. The new business is in indoor electric cart racing. The only one in the St. Louis area.
The majority of the board stepped out of its charted evaluation boundaries and delayed the approval of the application for another month.
If you want business development the incredible foolish delays have to stop.
Call the members of the planning and zoning commission and ask why four out of six members voted to become an obstacle to business in Crestwood rather than an asset.
I'd be looking for another venue..if it was me ASAP..I hope they do .
what happened to the indoor batting cages and sporting business that wanted to come in there a few years ago? Why did Crestwood throw up bloakcade after blockade there? I was at oen meeting where Miguel was droning on and on about their lighting and fencing. It was as if he didn't want the business there, but couldn't come up with a viable reason, so he began nit picking. Result: yet another business NOT in crestwood.
8:40 PM Blogger: Last I heard there was now a proposal to run an indoor cart racing track at that venue.
I see no reason not to, heck I would approve an indoor party center for ? before I let the building go vacant.
It seems the good folks at the new senior center building don't wish to be disturbed with any sort of distractions at night, so that may well be why Alderman Miguel did what you said he did.
In my opinion we ALL need to give a bit to get what we want or else we will get what we do not want, and soon!
(Do not read any tax increase into that statement, that will come up if and when Alderman Foote introduces it.)
Tom Ford
Hey Tom,
Some things that are not so good in Crestwood have never been addressed.
Sounds like we still have the same problem we have had for years with regard to not allowing any businesses to go forward in Crestwood unless they are banks or nail salons. We keep looking at these enterprises with a cold eye, instead of trying to work with the people who are requesting a permit.
Sorry, but that's what happens when you get people on the BOA or on planning and zoning who are too afraid to think out of the box. They want "safe" instead of trying to work with the requesters and give somebody else a chance. It may very well be that given a chance, it would be "safe" and profitable for Crestwood and themselves.
Alderman Miquel may be a very good aldermen and I agree that he is. But he exasperates people. Sure he is cautious OK! That's great but where does it stop being great and just become a P I T A. He and others are not doing anything good for new enterprise when people are full of apprehension or apathy before they decide to come to Crestwood and ask for a permit because they get put through a meat grinder.
When people have to turn themselves inside out to come before members of the board, they will go somewhere else.
Maybe for once, those in charge can man up and take some of the blame, try to understand what it is like for those persons who are trying to build a business in our city instead of thinking ONLY about the ramifications.
What is wrong with an indoor cart racing track or an indoor party center. If we want young people to have a reason to live here with their children, I would venture a guess that something like that would be nice.
I am just saying.....
any business that come into the old Value City location(or anywhere else) will have lighting of some sort, and no one who lives near there can expect anything else. There has to be lighting for a business of any kind, and it is ludicrous to suggest otherwise. Why that would even be brought up as a reason to nitpick is beyond me. It came across as yet another way to putoff a new business and alomost as though the goal was to actually stop these people from moving in. I was so disgusted I couldn't speak.
We are a point of sale city; we get sales tax through businesss enterprise. If those persons who abut commercial property are not happy about lighting, some noise, parking, etc. - then they need to go live in a bedroom community or go live in the boonies. Further, members of the board need to realize that they better be thinking about getting some new businesses in Crestwood when people come to a meeting and express their desire to have their commercial enterprise in our city.
If members of the board miss a few votes because residents cannot deal with issues - residents should have known that before they moved next to a business.
It's the same old song sung over and over again until you want to scream. Board members should know where to draw the line. There has to be some give and take. Further, just because residents are concerned about lighting or any other issue, I have seen many prospective merchants - because of protests/conditions by the Planning and Zoning Board - end up spending a lot of money to fix unnecessary issues just to appease the members of the board. (I did P&Z minutes for several years) Some conditions have just been ridiculous regarding buffers, easements, setback lines, etc.
We survive on sales tax and in this economy - survival has shed even more light on the old ideas that were not so good regarding thinking of nothing more than the residents needs. What about potential new busines.
I have known several business owners through the years that have told me Crestwood has a bad reputation in OKing business licenses and they are very hard to please. The very idea that nothing but our residents should be taken into consideration is wrong.
Lasting I would bet that those same residents would be the very first ones to "blow a gasket" if we try to raise taxes.
You can't have it both ways; something's got to give.
I am just saying.....
I could make a wicked go kart track inside Crestwood Court.
If you no longer proud to live in Crestwood, why should a business be proud to open in Crestwood?
What can and what are you doing to regain your pride in Crestwood? Anything? Or do you expect someone else to do it?
Are you a member of your neighborhood watch group, or a member of one of the two garden clubs in Crestwood?
You see, we must return the pride we once had about living in Crestwood, and act on that pride by taking actions that improve our block, our street, our subdivision. If your former pride was based on having the Mall, you are still living in the past. If history teaches us anything its that Malls come and Malls go.
If you have common ground in your neighborhood, or an entrance way into your subdivision, how are YOU taking care of it? How are you improving it? Do you know all of your neighbors names?
Are you taking advantage of the events and features held at Whitecliff Park? Have you recently taken a tour of the Sappington House or visited the Library? Have you volunteered to serve on one of the City's Boards or Commissions? Do you ever visit the City's website or read the City's newsletter?
Do you report to the City's code enforcement officer, homes or buildings that you feel do not meet code?
Do you believe that there is nothing you can personally do to make Crestwood a place people would be proud to live in? Have you ever questioned that belief?
Tim Truebood
Tim,
Well said. We tried to get involved in our neighboorhood watch about two years ago, with the intention of wanting to bring about a more community oriented environment. Only one problem, I live in Ward 2, fly a Gadson flag from my pole, and challenged Deb Beezley when she was soliciting me for my vote. Evedently if you disagree with the powers that be in ward two, well no phone call back.
When we bought our home from my grandmother, I was stoked that I was going to live in a great community right next to my hometown of Kirkwood. In fact, it was almost like Kirkwood, without the outragous property taxes.
After moving in I became perplexed about the treatment we recieved. People leaving nasty notes and vandelization of my truck because I parked it in the street. Heaven forbid it was impedeing people from driving 35-40mph down the 20 mph required zone. Vandelization to my home, because I dared tell the youth to stop defacing the homes of my elder neighbors later at night.
We pay attention to what our elected officals do thru the paper and the website. We are not able to get to the board meetings due to the fact that we both work, and 7pm is hard for us to get to. We are dumbfounded at how impossible it is to obtain a business license in this town. Open a go kart track? Heaven forbid, not it this town! We love looking at a vacant rotting building! Besides, we have homeowners who pay nowhere near what they should be paying! Those pesky, complaining homeowers, we know what's best for them!
As middle age, "middle class' family. This is just frustrating.
We both now feel we are good for one thing for Wad 2, and Crestwood in general a personal property tax check.
Chris Miller
P.S. In the six years we have lived on this street, I have no earthly clue what our neighborhood watch does. It certaintly isn't what I see other community watches around town do.
No one from the senior living center attended the planning and zoning hearing for the go cart track. No objection about lighting was proposed from the audience. One board member asked about lighting and then others decided to jump on the bandwagon so as to not be left out.
Chris,
I am pretty sure that Deb Beezley lives in Ward 4 and was the Alderperson for that Ward, not Ward Two. So why she asked for your vote is beyond me.
"Vandelization to my home", what are the police doing about this?
Also, the police can tell you about the Watch Program on your block. If there isn't one, maybe you can help start one? It can be set up over a few week ends, if after work is a problem. City's website gives you the contact person to help you with doing this. She's willing to do this out of the pride she has in Crestwood, not because shes elected or an employee of the City.
I understand about the the BOA meetings and the hours people are working. Honestly, I don't know what would be the perfect time to hold them. But keep reading the City news letter, and become involved as much as you can.
Remember please, that a business license to operate goes through a couple of unelected citizen's commissions. They meet at most once a month, and if you want to make it easier to get a business license, request that you be given consideration for the next opening. Maybe P&Z or the Sign Commission? Check out their schedules on the website and see which one fits yours.
Remember, that many of boards/commissions go BEGGING for members, or have a hard time making a quorum.
I was there at the P&Z meeting covering the indoor electric go-kart track. I have no vote, I am there to report back to the BOA.
As the P&Z Commission is made up of volunteers, I have a hard time being critical of their actions. I may agree or disagree with their actions but only when the business comes before the BOA, do I have any recourse, and that with my vote.
Can you see how important it is for us to be proud of Crestwood, to volunteer to make it better, more attractive? To make business want to come here because the boards are filled with business friendly people. Because those who live here, want their block to have the best night out party, or the best flower arrangement at the entrance to their neighborhood or the most active watch. What if I came up with a contest between the neighborhoods in Ward Two for the most improved? Would that spark any interest?
Tim Trueblood
Tim,
Sorry, I meant ward 4. The police told me there wasn't much they could do, and I agree. It's life, I didn't mean to come off as complaining. The person in charge of our block helped campaign with Mrs. Beezely. I'm not going to call her out. Most people know who she is. We went thru the proper channels. No response. I would love to donate time to a board, but work 60 hours a week spring thru fall. Also, my wife is expecting our first child this winter, and as money allows, work in the home needs to get done.
I am in the service industry, I spend most of my time in counties thru the area. I envy some of the pride I see in neighborhoods. Yes, I know how important it is to take pride in your neighborhood. I just don't see it around me.
Part of the problem I see is that the political climate is so polerized, nobody can have any kind of dialoge. As an ardent conservitive, I admit to being this way at times. It needs to stop.
As for the business license deal, Maybe some of this board stuff needs to be streamlined, or merged together. We NEED tax revenue. I get the need for regulation, but read the 6:29 PM, June 08 post again. It's the truth. I'm sick of driving up and down Watson road and seeing big, empty buildings. Do these planning boards and the BOA understand what it looks like to outsiders when they see empty lot after empty lot? Ballwin is not near a major highway, and I watch as all of their vacant space is being filled up.
Anyway, I like the idea of some kind of competition. Maybe between Wards. I like to bbq. Maybe a grilling competition between wards? Held at city hall or a park. We could use the opporunity as a volunteer day to fix up some of our parks.
I appreciate the time you put out there to all wards. Even as I don't agree with them some of the time, I wish my alderman would do the same.
To Mr. Ford, thank you for putting forth the time for this forum. We all need to start getting the conversation going again with robust debate, and respect.
Chris Miller
I think the residents need to get to board meetings more often and voice concern and even objection to the alderment who consistently block new businesses. Maybe it's time they knew we have noticed and are sick of it.
6:05 PM Blogger: Mr. Miller, first of all thanks for posting here it's a pleasure to have you aboard.
You have put forth some outstanding ideas, and I will pass them along to the Mayor and the BOA. Now what and how to do to get this started?
For openers, we have a veterans memorial (of sorts) at our City Hall which most people don't know is there as you really can't see it from the parking lot.
We have a committee in place (for two years now) that is charged with collecting funds to improve the sad state it's in now.
Neat idea right? The problem is no one is doing much of anything to move it forward, thus it sits in the same hole it was in two years ago!
Now as a Viet Nam veteran (there are three KIA's from Viet Nam on that stone,) I really want that memorial to be much better than it is so watch for a thread here that requests assistance in raising the funding needed to achieve our goal. (we need $12,000.00, we have about $4,000.00)
This project transcends ALL politics and is a more than a worthy goal for ALL of us to achieve. That said, would you consider joining me and a couple of others to help raise the needed funds? I hope so as you sound like just what we need.
Tom Ford
The First Great Annual Crestwood Chili or Grill Cook Off??
What a great idea! Have 3 judges, a fireman policeman and public works employee pick the winner.
Would any one object to have this advertised in the City's Newsletter? Maybe the trophy could be a traveling one, like the Stanley Cup.
Then hold a contest between Crestwood's winner and Sunset Hills winner with the Chamber of Commerce for both cities sponsoring contest.
Gee, where could we find a LARGE parking area near a fire house that is not being used and no one would care if we held contest there?
Outstanding Mr. Miller.
Tim Trueblood
Mr. Miller, I agree completely with Alderman Trueblood reference the Chili cook off!
Gentleman, if you wish I will work on finding such a place for you to hold it. Advertising is simple, and info on the cook off can be sent to other Police, fire, and Public Works departments in close proximity as well.
Mr. Miller, thank you for a really great idea, can you contact Alderman Trueblood or me for further?
Tom Ford
That Chili Cookoff is the best idea yet. hope it gets off the ground.
I also agree with Tom about our memorial fund and I have supported it. I would love to see that memorial for our veterans get more public relations. If we could maybe combine the two activities together somehow - I am just thinking if it could be done!
Ask the Crestwood-Sunset Hills Chamber to get involved. They certainly cannot be too busy! And going a step further, why couldn't one of those newscasters from the television channels be asked to participate and we could get some P.R. from them. Wouldn't that really be a shot in the arm for Crestwood and Sunset Hills. Can't hurt to ask and it may help. We need P.R. in this town something terrible. The apathy here can kill us it is so deep!
I would favor a telephone campaign to the planning and zoning commission members asking why they are an obstacle rather than a asset to the city.
If you want the phone numbers and emails I will be happy to post them.
Who is the person or persons designated to the Chamber as a Crestwood Ald. Rep.? Or is there one; or is it just a department head or someone else working at city hall? That person or persons need to get their "mojo" going.
First, where it is to be held? As it has to do with cooking, where in Crestwood would it be safe to hold?
One of our Parks, the parking lot of the Mall, or city Hall? Would one of the three grocery stores in Crestwood wanted to be a sponsor, and allow cooking done on their lot, along with providing coupons for the chili chefs for ingredients to make their chili?
2nd question, can this be limited to citizens of Crestwood and would it be a good idea to do so? As a contest between the Chili Chefs from the 4 Wards of Crestwood? What works best to increase pride in City, draw attention to the City and increase traffic in retail district of city?
Lets get these two answered and then move forward on how to create the rest of the rules and regulations.
Ideas anyone on either or both questions?
tim trueblood
The chili cook off would work providing there is sufficient lighting and the ground cover is not too high...etc....
wold people pay to enter? Buy tickets to attend?
10:54 AM Blogger: Tim, I will ask the Shop N Save people today how they feel about it. Also the lot at Malone's will work on a weekend as well.
I don't think we want the Crestwood Courts as that may give off the 'ghost town' impression, what with all the stores being missing.
I think we must open t up to ALL who might like to attend as were trying to attract new businesses and resident's to Crestwood.
Tom Ford
Tom and Tim,
Hey now. What's with the chili talk? I said BBQ:)
I met the new gm at Shop and Save last Thursday. He seems like a very nice guy. Contact him. I agree about not having it at Crestwood Court. We need to promote the business around town. How about down by the Westlake Ace Hardware? They have an awesome grilling section. Also parents could take their kids into Monkey Joe's to play if it gets too hot. We have access to the trail that is always busy on the weekends, and last but not least, if someone gets a craving for some adult beverages, well Friar Tuck to the rescue!!
Chris Miller
Also,
We do alot of trade shows in St. Charles and in West County. I think it would be important to reach out to all of the businesses in the area even if they don't cook. They could be there with booths and such to promote the local business in town.
Chris Miller
9:08 AM Blogger: Mr. Miller, FYI, Jackie Stock and I are going to visit the Ace Hardware store today to ask the management for permission to hold the BBQ/chili cook off.
Would you please consider joining a committee for the AD HOC purpose of putting this thing over he top?
Tom Ford
341-2307
Tom,
Has anybody talked to the mayor about this yet?
Also, how could I contact you or Mr. Trueblood without giving my personal info over this blog.
Also how do you propose to get the message out? I really think it is important to get as many business and churches to paricipate in this. We need to show the local area that we are a vibrent community, that wants to buy local.
Chris Miller
11:48 AM Blogger: Mr. Miller, call me at 341-2307 we will go from there my friend.
Tom Ford
Mr. Trueblood,
I love the idea of the public employees being the judge. Maybe we can get that new dumptruck, a fire truck, and a police car out. Kids love heavy equipment. It also could be our way to show appreciatin to our city employees.
Also, people coming off of that trail would see all the commotion with the fire truck lights, etc. This could help draw them over.
We could get a sign up sheet at city hall or what not for contestants, or teams. Maybe the mayor could put something up on the website. I already know what business I am going to solicit to be on my team!
Do we have a VFW, Rotary club, or any other club like these in the area?
Ballwin has a yearly weekend party at there city hall and park. Bussiness set up tents and promote their products and services to the residents. I would like to see this turn into something like that. Maybe we could talk to the churchs in the area to help get the word out.
I am just brainstorming on my lunch break. Anybody else have any suggestions?
Chris Miller
12:21 PM Blogger: we ARE ready to start forming the committee to get this going. Jackie Stock and I visited a venue today and so far, so good.
If you wish to serve on the committee please call me at 341-2307 and we will make that happen (same with anyone else who wishes to do so.)
This committee will be a very short lived thing this year as we do no have much time from start to the event, so please do not think it will take up too much of your time as it will not.
Tom Ford
I think we need to get rid of this notion that people who run business are the best leaders for our government and, hence, our people.
I think we need to get rid of the notion that government of the people is a business. It is NOT. It is a SOCIAL function. It supposedly represents EVERYBODY. Not just those who like to take risks for the chance to shove more cash up their you-know-what.
Our government has been run by big business, and the rich and privileged who normally own and run most businesses, for FAR too long, and that's created the mess we're in.
We could easily balance the Crestwood budget by not wasting so much money on HIRE BUSINESSES to do everything they do, raising our costs to make their profits. Some police need to go, too. Just don't see the need for the number of cops we have with their lifetime pensions and benefits. That's a MAJOR drain on our finances. How many cops do you need to setup radar traps and process shoplifters?
Wanna bet that even with our condition, the new "pro-business" Edward Jones mayor (what does Edward Jones really DO as a business, anyway? Nothing but take your money and take a chunk of it for their profit, essentially - what skill is needed to do that?) will offer HUGE tax breaks and welfare handouts to the developer of Crestwood Court?
HEREIN LIES THE PROBLEM TODAY. Government has become nothing more than a welfare machine for big business, to take their risks and pay their costs, so they can profit more.
We all know, if Crestwood Court is VIABLE, if it has REAL POTENTIAL, the wealthy investors will be tripping all over themselves to invest in this. IF they are NOT, and they want welfare, then it must not be VIABLE as a profit machine, right?
NO TAX MONEY FOR CRESTWOOD COURT. Let the wonderful "free enterprise" machine take care of it. If it doesn't, then so bet it.
Let's start electing more PEOPLE PEOPLE to office, who care about the PEOPLE they serve, rather than business people who just care about the bottom line and how much they can take from it.
11:09 AM Blogger: So Oscar, pray tell what lead you to these conclusions?
Your right when you say "Government has become nothing more than a welfare machine," but I believe the major unions are the ones most benefiting from that (G.M.-Chrysler-G.E.)
Those three (and their associated unions) have used our tax money to prosper and in the case of G.E. paid no taxes at all last year!
Stop the "welfare mentality" fostered by L.B.J. (the great society) in the 60's, and we would be a long way toward being on the plus side Nationally.
I wonder if you have ever asked a company who was losing money for a job, and if so, what was their response.
I could go on but I shall turn the floor over to you my friend.
Tom Ford
I don't think Toby Kieth will be hanging his hat in Crestwood court....unless the good citizens cough up some cash...100 million dollars...of investment in a town of 11,000 people...is about $90,000 each...to recoup such an investment would require some...time...Even with Edward Jones help.Their presentation was weak and slim on details...and could have been written on the plane ride from their corperate office..
2:52 ... $100,000,000 divided by 11,000 equals $9,090
I hope the present aldermen review the details of Sappington Square tax subsidy gone bad.
Sappington Square began exactly as Crestwood Court is now.
Presentation = empty promises of occupation and commitment in return for a subsidy.
Request= we cannot (more like will not) do this project without a subsidy( risk reduction).
Failure = empty buildings. Bankruptcy . Insufficient revenue production to provide the required tax money to enable them to sell bonds.
Opportunity costs that will never be recovered.
I have always asked this question:
Why do the tax payers become unwilling investors?
The answer is it free money carrying no performance responsibility for failure and no need to share the profits, if that should happen, with the unwilling investors. What deal.
If these projects are so profitable build them with their money not mine.
REMEMBER SAPPINGTON SQUARE
10:57 AM, June 16, 2012
Right you are. I hope those in office read your words.
I was not there for the presentation by Centrum (I had been present at some of the other meetings when they were supposed to be there but Centrum cancelled).
From what I read in the papers, the presentation was very milque toast. Shopping areas, walkways, community gathering places, places to eat. All nice concepts, but if I had a yard sale and some chairs and grilled some hot dogs, I too could say I have some shopping areas, walkways and places where people could gather and eat. Nothing really new in the way of concepts. However, if the promised merchants come through (grocery store, gym), they will provide competition to existing merchants. Do we really want that? I don't know.
TIF - of course they will want it. And I'm sure there will be some chopping at the bit to give them whatever they want.
After 4 years of doing nothing, you better believe I'm pessimistic.
If any TIF is granted, Centrum should have to agree to at least 80-85% signed lease occupancy. If they cannot fulfill their obligation, then no subsidy.
Ultimately, the city holds the cards here. The plaza is already empty and the city is surviving. Centrum wants a return on their investment. Can they hold out another 4 years?
If the Eastman fiasco is anything to go by the city is not very good at playing cards.They will fold at the first opportunity...Centrum.is losing the minimal rent it has been recieving from the anchor stores... etc...they however don t seem to be any any hurry....to move on....time and investment money is still on there side.I doubt if Toby Kieth is.
9:34 PM Blogger: If the City ever gets serious it can (and should) serve notice that it will 'blight' the property in one month unless work commences on demolition of the old stores.
If they fail to do so I would move to file a property abandonment summons and move on from there.
Centrum has a "pig in a polk" and they know it, now are they willing to make it worse? I really doubt it.
Memo to Centrum, were not going to give you one cent for any redevelopment, why should we, you saved roughly 97 Million Dollars when you bought it from Westfield. How about you do it the old fashioned way, you pay for it.
Tom Ford
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