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Date Posted: Friday, July17, 10:05:am
Author: Slumdog (City Guarantee)
Subject: Re: Property disposition discussed at council work session
In reply to: county database 's message, "Re: Property disposition discussed at council work session" on Thursday, July16, 11:44:pm

I heard that the city co-signed and guaranteed Carchietta's refinance of the property in which he pulled out equity. The IDA has been rendered dysfunctional and impotent as a board because the city can continue to maneuver around the now citizens board. The city has no representation on the IDA and hence will open a new entity to play their games, i.e. the Community Development Agency. It is about control of the money and until there is a public outing of the finances of the IDA, there is no change of procedure on the part of the city. The new city manager is very keen on how to play the game. He is certainly a player. That is why he put CK in charge of the money. God forbid they have an outsider take control. Look what happened with IDA. Normal, thoughtful people took control and the city shut it down!!

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