Boss Godfrey Henchman clarifies low-ball property value assumption
The Boss Godfrey administration continues to respond to the relentless investigation of Standard-Examiner Ace Reporter Schwebke, who continues to hound administration officials day and night for more more information about the Secret Gondola Study, covertly prepared by the Salt Lake City venture capitalist firm Lewis, Young, Robertson & Burningham, back in November, 2006.
This morning's Std-Ex showcases yet another article in investigative reporter Scott Schwebke's tour de force expose' series, this time addressing the $2 million sales price assumed in the LYR&B report.
Mr. Schwebke succeeds in setting Administration CAO John Patterson into back-pedaling mode, forcing him to admit that the Boss Godfrey never really intended to sell our cherished Mt. Ogden Parklands "crown jewel" for a mere 5% of fair market value. The Godfrey henchmen just pulled the $2 million low-ball figure out of their... er... hat at the time, Patterson admits. "We didn't want to be accused of padding the numbers," John Patterson said. Like every other assumption in this study, we just "made it up." With luck, adds Mr. Patterson, the city might squeeze as much as $7 million from real estate developer wannabe Chris Peterson, if administration officials play their cards right, [wink-wink.]
Now our regular long-time gentle readers will recall that we've had numerous discussions about the Mt. Ogden Parklands acreage over the past year or so; and we thus confess we also find even the $7 million figure to be pathetically low.
The most useful calculations we've seen to date spring from a reader-suggested comparative analysis of the recently-completed Golf City land transaction, wherein 20 acres of prime South Ogden residentially-zoned property sold for a cool $6 million. Applying the Golf City dollar-per-acre numbers to calculations of the Mt. Ogden Parkland property's 150 or so acres, we come up with a value of approximately $45 million.
So what Mr. Patterson seems to be telling us is that a proposed sale of prime Emerald City foothill property to Peterson at a hair over 15% of calculated fair market value (assuming highest use) would be a good deal for the lumpencitizens of Emerald City.
It's people like Mr. Patterson, supposed guardians of the public pocket-book, who make us eagerly look forward to the upcoming November elections. And remember -- John Patterson is part of Boss Godfrey's A-Team.
Hoo-Boy! We can't wait to check out the B-Team.
We've already seen the G-Team, by the way, and were not favorably impressed.
And before we get the inevitable chain of godfreyite comments chiding us for indulging in an apples-to-oranges comparison, we'll concede that the Golf City property was sold for residential development, whereas at least some portion of the anicipated Peterson landgrab "proposal" would supposedly remain devoted to open space.
With that in mind we'll suggest the true fair market value of the Mt. Ogden Parklands property probably falls somewhere between the figure quoted by Mr. Patterson, and the figure derived from our own calculations, based on a recent comparable sale, valued according to its highest use (residential.)
Notably, Mr. Patterson's comparables consist of two flatland non-residential golfcourses, whereas the Peterson "proposal" (so-called) is predicated quite substantially upon dense residential use.
Equally notably, Mr. Patterson frankly admits that the city has not bothered to order an appraisal. A competent appraiser could of course fashion a property-specific appraisal, calculating estimated value by factoring in proportionate residential and open-space use.
Before we start falling all over ourselves trying to arrive at a proper formula for calculating the true fair market value of the Mt. Ogden property however, the issue of whether we should even consider selling the property at all remains an open question.
And in that connection we'd like to highlight a fine Standard-Examiner article which appeared in yesterday's paper, in which Peter Metcalf, a local outdoor sports company executive, makes a strong case for leaving our Mt. Ogden Parklands property alone.
And before we close this morning's article, we'd once again like to thank Scott Schwebke for his valiant work in getting to the bottom of Boss Godfrey Secret Gondola Study document. And in that connection we offer a gentle reminder:
We still don't know who, if anybody, paid for the study. Any help that you can provide in this regard would be appreciated.
And one more thing. We loved this paragraph, Scott: "A sale price for Mount Ogden Golf Course hasn’t been formally presented to Peterson, who is spearheading the gondola project, Patterson said. Peterson could not be reached for comment." Pure genius! If the eight months missing-in-action Chris Peterson is currently "spearheading" this "project," we'd love to see his performance if he suddenly decided to start "sand-bagging."
Take it away, gentle readers.
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42 comments:
The value of the Mt Ogden Golf acreage is also enhanced by the fact that it is at the top of the foothill and offers majestic views. This alone boosts the value over 45mil. There are a couple of 1/3 ac view lots for sale on Bona Vila dr. for $265,000 each. That's $750k+/acre. That would put the improved acreage value at near 100 million. Will the local citizenry simply bend over and take this proctological reaming without a whimper. Throw these fools out with the bathwater. Sick of it all.
I trust the groundbreaking Schwebke article will soon be posted here so I can read, save and perhaps comment on it?
After somebody wrote a letter to the editor on city debt and the administration started issuing panicked press releases, and now after someone wrote a letter to the editor on the golf course sale price (and after I said time and again what the price was in spite of all the comments to the contrary) and the city has now admitted it and is now flailing away about that, I just want to say . . .
That it appears simple freedom of speech, and of the press, is a vital and powerful right.
Take note, both those who would silence the public and those members of the public who feel they have no voice. It appears, to the contrary, that we do have a voice, and it makes a difference.
Thanks, Danny.
We'd had the nagging feeling that we'd "forgotten" something, as we wandered into the kitchen to whip up our morning espesso.
We've now duly added an article link.
If the planning and ecconomic developement dept. work exclussively for Gadi, the rest of the administration appears to be contracted out to the synthetic fleece vest wearing mia Mr.Peterson. Even after the the budget resolution regarding golf course financials, Patterson insists on repeating the bogus,accountant twisted, interest compounded daily,favorate little matty quoted erroneous pontification that the golf course is being subsidized $ 290,000 a year. If I owed myself $5,000.00 in 1984, at 8% compounded daily, and haven't paid on it since 96, how much have I lost? Would the IRS allow me to deduct my loses? Is this administration going to concider the monthly subsidy payment of BDO funds for the Jackass center a loss? That would ammount to around $1,740,000.00 annually. But this gets worse, Godfreys projections are all ready short, last quarter they had to take money out of the general fund to cover BDO shortfalls. If they catch up and succed for the rest of this year, that little number will only be a cool $2 million loss. Not bad for it's first year. Did I mention that a peccary was a little pig, with a white collar? This administration is full of them.
Of course, if Peterson isn't willing to pay more than $7 million for the property, then the whole project oughta die because that won't go far toward paying for the urban gondola whose actual cost would be around $30-40 million.
Wouldn't surprise me, though, if Godfrey tries to sell the property to Peterson anyway.
Let me get this straight. They did not want to inflate the valuation for what reason...
That inflating it would be padding the figures...to do what, appear that you may be enhancing the potential returns to the city...patent BS
They know that the true valuation would shock the locals and have them saying a great big NO.
What is with Ogden. 7 million. There may be LOTS in Park City that command that kind of figure. Certainly there are a few 1 million dollar lots in PC.
Is the local citizenry braindead. 7 million for that acreage. Put that shit on the open market. I'll friggin' bid 7 million. I haven't got it but I am sure that I can round up a few who do. A friend recently purchased a waterfront home in CA for 2 million. That kind of cash is common in the good old USA. 7 million???? That's peanuts for that quantity and quality of acreage. I have always felt this region is living in some kind of timewarp. Why do you think we are attracting such flies as Spain and co. They know the value coming from Scarsdale, er uh Scottsdale. whatever.
Am I not remembering correctly?
Originally we were told that the city would be paid $20 million for the Golf Course and that that money would then pay for the entire supposed cost of building the supposed downtown gondola.
On June 1, Ozboy indirectly remembered the same thing, so I'm not hallucinating. "Related to that of course is - if the city sells the golf course for $2 million and builds a Gondola for the reported $20 million, where does the difference come from?"
Now we are told that Peterson would pay $2 or $7 million? These clowns can't even keep their stories straight and they expect us to trust them with a project like this?
Throw 'em all out.
One futher clarification. This supposed golf course debt is city money owed to the city. The Jackass center debt is real money owed to real lenders,quite a different scenario.
Sometimes I think Ogden is akin the the Native Americans who sold Manhattan supposedly for trinkets. They have no clue....
Rudi:
Well, let's not go overboard in praise of Mr. Schwebke. He didn't ask what to me is a central question: is the $7 million valuation based on the land being sold as presently zoned [open space]? If so, what is the estimated value of the same land if it is first rezoned residential? If it is sold zoned open space and subsequently rezoned residential for Mr. Peterson, he will reap a huge windfall benefit. Those questions, seems to me, could have been raised in the story.
Then there is the question of Mr. Patterson's delicate sensibilities on the question of not wishing to include over or under inflated estimates on gondola matters. [Mr. Patterson is executive director of the Peterson/Godfrey administration.] I find it interesting that his delicate conscience induced him and the Peterson/Godfrey administration he speaks for to low-ball the value on the golf course out of fear of being accused of inflating the number. Yet he does not mention low balling the estimated cost of constructing the city's gondola. [The figure the Peterson/Godfrey administration provided the consultants was $20 million... a figure now years out of debt, that takes no account of increased construction costs since then, and that was based as I recall on a shorter gondola route with fewer "stops" than are now projected. More recent estimates seem to be hovering around $35 million or so.]
It would have been nice if Mr. Patterson's delicate feelings about avoiding inaccurate estimates that might seem to favor the administration's proposal extended to more than just the golf course number.
Tec, not quite an accurate discription, but it fits nicely withour macho capitalist conquest mind set, the Indians had no conception of ownership of the land, in essence they were just allowing the whites to live amonst them. the exchanging of gifts was just customary. So Ignorrance as to the intentions of one your dealing with is appropriate and in the case of Ogden City residents, ignorrance as to the intentions of those that represent their interests is absolutely appropriate.
Now that the hot long summer is begining to settle in, how about reviving some other aspects of this Gondola salvation scenario. Since we've heard no official change on the Malan's basin Resort front, last word being CP's lawyer saying 20 yrs. out, I'll leave out the terrible scenario of the smell of burning excrement waifing down on the east bench every morning,accompanied by a cloud of said particulate matter from the nonexsistant,self contained, sewer packaging plant. I won't mention all grey and left over black water being dumped back into Waterfall creek. We'll iust jump to boiling babies locked in an almost airtight Gondola car, for up to 40 minutes. Overheated sweat stained elderly patients trudging up Harrison Blvd. six blocks to the hospital for an appointment, because the mass transit option wich they have to rely on goes only to Edvalson ave. Gondola the urban transit of the future.Little matty's metaphysical experience (VISION) comes into being. For the residents of Ogden, the torture never stops.
Here's the rundown on the Las Vegas land deal that is so similar to what Godfrey wants to do for Peterson.
First, the land was sold to one Billy Walters, the mayor's friend, for $5600 an acre, in 1999. Wow! How did Billy get Vegas land so cheap? Well, it was a city golf course that was "losing money." (Remember what Godfrey has said about Mount Ogden golf course that since it is “losing money” it actually has a “negative value” and we should be glad to “give” it to Peterson.)
The Vegas city government didn’t consider selling to anybody but Billy. Why? Because he had other golf courses and was the “right one” for the deal, of course! Well, after awhile Billy decided it would be better if his newly-obtained land was residential instead of golf course, so the city rezoned it for houses. Billy learned a new meaning of the word, “jackpot.” The land went from $5,600 an acre to what would you guess, fifty to one hundred TIMES that amount?
So don’t think it ends with selling the golf course to Peterson, then changing the zoning so he can hit an instant jackpot of at least $100 million cash profit. No, as the project proceeds, retaining a “redesigned golf course” running amongst the houses will also go by the wayside. After all, why would all his new homes want plexiglass windows?
But it gets better. You see, Billy’s golf course was near a sewer treatment plant, and the new homeowners got to where they didn’t like the smell. So guess whose problem it was to fix that? Would you say Billy, fresh with his hundreds of millions in his pockets, should fix it? Silly you! It was the city’s problem, of course. $40 million in city funding was allocated to help poor Billy out.
So once Mount Ogden is all torn up and problems start to arise, like sewer and water mains being inadequate (like the city’s engineering department has already said they are,) guess who will have to pay to fix it? Billy, uh, I mean, Chris?? Silly you!
So who wins on a deal like this? Well of course Billy and Chris do. The politicians who gave it all to them do, because they get sweet jobs after they leave office, if they have to work at all. The real estate agents, mortgage brokers, cement companies and contractors also do, at least for awhile.
Of course, the other 99% of the population feel like somebody’s just worked them over with a broom handle. Here in Ogden, we have an election this fall. Will we choose to vote for Billy Walters’ style government, with Matt Godfrey and Chris Peterson, or for some other kind of government?
Well said, Accountant,
There is no way to assure the public access deal in perpetuity, let alone even maintaining it as even a rudimentary golf course. A serious legal challenge to the language of any such deal will render it useless. There is always the escape clause that cannot be enforced without expending huge future city funds, if there are any.
I wonder how much Godfrey would sell Yosemite for, or the Grand Canyon, or Yellowstone.
Think of the tax revenue. We could build sky rides all over the country. And think of the money it would save government on operating costs, not having those places anymore.
I suspect the gold in Fort Knox isn’t earning any interest either. Let’s give it to Chris Peterson and save the operating cost on that too.
In fact, all of Ogden’s parks are losing money, since they cost money to mow the grass and the city earns no revenue from them. Let’s give them to Chris, for houses.
Or better yet, let’s sell them for a few bucks an acre, just so we can say it’s legit.
You people keep quoting Frank Zappa. What about quoting Alice Cooper, when he said, “Welcome to my Nightmare.”
For those so inclined to swallow any portion of pinnoccio peccary GODrfey's metaphysical enlightenment, I offer one one last reminder ala FZ. "There's a big difference btween knelling down, and BENDING OVER."
I too appreciate Schwepke's new found curiousity. Hopefully this is the real Scott and his editors and publisher are starting to see the civic duty in unleashing him a little bit.
I agree with Curmudgeon however, Schwepke still aint asking the real tough and pertinent questions yet.
Especially missing in his story is any discussion on the real world real estate market value of thie 175 acres of very prime foothill view property.
From very recent experience, I say that property is worth at least $300 thousand an acre. Even with the "open space" proposed in the Peterson scam, the remaining residentual land values will balance out the open space and still yield a current - before development - value at $300 thousand per. The individual lots in a development like this will go way above these figures.
This is just like that 1 acre on wall that Peterson just bought from the city is worth a hell of a lot more than the $270 thousand he supposedly paid for it.
And what kind of deal did Stuart Reid get on the prime corner of the mall that is facing the Temple? You know, the one that is going to have the real high end condo's, the project that could make Stu zillions?
On the upside tho, if he does score big time by parlaying his "deal" with the city for the land, maybe he can cut all us tax payers a break and quit slopping out of the Ogden Public Trough to the tune of $65 thousand a year for managing the BDO that is actually being managed by our partner Boyer in return for half the action?
And of course we have the roughly $150 thousand a month rent subsidy that those Godfrey boosters at the Rec Center are recieving thanks to the no bid contract they did with their friend at city hall.
Friends of Matt, or just a coincidence? You tell me.
And the beat goes on, at least according to Sonny and Cher.
The highest priced piece of undeveloped (sort of, is on the east bench and has electric and sewer to it) land in Ogden in sold for $332k for 1.4 Acres. Near Mt Ogden Park. I would think it would serve as a good comp for value once parceled off.
But it also give a good indication that undeveloped acreage no where near the $300k.
It is difficult to estimate what the golf course is worth without opening it up to the public. Developing raw land like the golf course will cost millions. Roads, sewer, power, stormwater, etc. for a development of this size and in that area will be enormous. Of course, that cost will double or triple if the city requires Peterson to upgrade other parts of the city services to handle the increased demand.
Second, I believe that rezoning the land from open space to residential would require both the planning commission and the city council to sign off on the project. From what I can tell, the council is in no mood to do that.
Should the mayor sell the Mt ogden Land to Make money, Is it going to be put up for Bid to the highest Bidder?
How could the Mayor just say that Peterson would get this property. if there is not a bidding process, could us taxpayers sue the city for violation of the laws?
some facts,
Not familiar with the lot you cite,
but if it has just power and sewer that is still a far cry from even partially developed. If it's like a lot of foothill property it can be well sloped and require a considerable amount of retainment for stability and to create a building pad. The cost of these retainers can far exceed the per lot cost of services. Anyway the land is alot more valuable than 2 million, or 7 million, or even 20 million, it's irreplaceable. This is not some West Weber retired dairy farm we are talking about. It is surrounded by a developed city on one side mountainside the other. Of course that mountain is owned by Peterson who obviously values it the most. His land is virtually worthless without the golf course.
Scott Schwebke,
Just want to give you a high five for some good reporting. However, as Ozboy has suggested, (and the rest of so often), do carry this further.
Perhaps you could talk to some appraisers (who don't eat creamed chicken with Godfrey at the Rotary luncheons), RE developers who also don't hobnob with Godfrey and get some figures on your own?
Have you attempted to conatct Peterson's mouthpiece and author of the landgrab, Ellison? I think I'd go after him big time!
Keep digging, Scott....really dig. "Don't Cower"...still love it!
The parcel has had a home on it already and is flat/wooded...I would call it a prime piece of East Bench property.
Yo Ozbo
Speaking of friends of Matt, what about Geiger's wife who is on the city payroll for a big salary plus all the usual perks. Her job is to obstensibly supervise the construction of the mall.
The mall of course is being built by Boyer, a professinal company that gets half the profits for supplying the know how to build it.
R&O, the main contractor on the Recreation center also has a full cadre of supervisors that are actually in charge of building that part. I guess Mrs. Geiger must be the go between them and the spirits that the Mayor and his circle obviously consult regularly.
Mrs. Geiger has no experience or education that would qualify her for this position, even if the position were really needed. So about $65 thousand dollars a year of the city's money is suplementing the Geiger household. No wonder they are such rabid Godfrey backers.
You also forgot to mention the Mayor's uncle who is head of the planning department, and if recent stories are correct, a financial partner of Gadi of California Felony fame.
And then the old reports of the city crews assigned to do maintenance work of slum properties alledgedly owned by the mayor.
And our guitars gently weep...
schwebke is becoming quite the dirt digger. Not every story has deeper roots. Some are losing confidence in Scott as a reputable journalist. If he likes access to officials like he has enjoyed previously he may reconsider his recent detour.
Schwebke is finally finding his journalistic "legs," "Da Chap."
And if you think you Boss Godfrey Administration dorks can shut the local newspaper outta the discussion by failing to answer Schwebke's calls... you'll be in for a bigger surprise in November than anyone here has even yet suspected.
Yeah! Cut Ace Reporter Schwebke outta the information loop!
We'll be standing back and laughing, as the Std-Ex returns the favor, cutting Boss Godfrey's minions a brand-new A**-hole.
We double dare ya's.
da chap:
Good reporting is a matter of sources, yes, and access, yes, but not at the expense of the reporting. And sometimes "access" can lead you into a career destroying series of stories. Ask Judith Miller why she no longer works at the NY TImes. [She got special non-attributable access to high administration officials who fed her stories to justify the Iraq war, which she printed without corroborating, and which stories turned out to be on the whole false .]
Also worth noting that if a reporter needs access to a public official, or would at least find it helpful, said public official also needs access to the press, or finds it useful. If all a mayor says to the press, out of pique, is "no comment, " then the mayor's story [i.e. his version of events] does not get published, and the press necessarily must rely only on its own digging in non-official sources and interviews with administration skeptics who will be only too happy to provide the pithy quote now and then.
Press/politician is a symbiotic relationship. Politicians who try to cut off press access out of pique generally regret doing so, and change their minds pretty quickly.
The baby bird who leaves the nest to find it's own worm, may return and find no nest...
"The baby bird who leaves the nest to find it's own worm, may return and find no nest... "
Very cryptic.
Fuck you're stupid.
da chap
you pose an interesting dilemma for Mr. Schwebke. If he is to enjoy the radiated warmth and glory that comes from having "access" to power players, he must betray his journilistic integrity to seek and report the truth as it pertains to those players and his official city beat. Acces -vs- Integrity
A true deal with the devil! What will the intrepid reporter do? What would you do?
Being the good reporter he is, I think Mr. Schwebke can recognize shallow roots when he sees them. Heaven knows there are plenty to be had on all sides of the issues that live in Ogden. So I see him bearing in on the deeper roots, unless the Suits of Sandusky reign him in.
I for one hope that Mr. Schwebke, and his bosses, continue to follow a course of pursuing the truth in all its convoluted Ogden City government incarnations.
If Godfrey and his circle of empty suits have nothing to fear from full disclosure, then they should welcome a thorough investigation from the fourth estate.
The mayor should throw open the books, and make available his executives and accountants to explain them to the public and the press. He should openly, honestly and simply explain all of the convoluted deals that the city and the RDA are involved with, pointing out the rational, costs, projections, performance and long term implication of each. He should be truthful about them all, and especially candid about the turkeys amongst them.
If he would be honest with the people and the press, and if the whole apparent pyramid scheme is actually smart and sound, there would be no opposition to it. There would be no obstructionists tangling up his giant strides and interfering with his date with destiny.
The infernal Godfrey insistance on secrecy in the conduct of the public's business always makes one ask the eternal question - Why?
Why does every thing always have to look and smell so sneaky and sleazy? Why can't the mayor really answer to the main issue that Council woman Jeske brings up? You know, the integrity thing! His only defense has been to assert that he and he alone has the most integrity in the room.
Why does he insist of answering questions about his secretive conduct with smarmy answers, smoke screens and blame diversions that only deepen the suspicions about his character?
Why do his actions speak louder than his words?
Why does the sun come up in the east?
Why oh Why oh Why?
Great video about the role of bloggers in the 21st century.
The formely anonymous national blogger Digby comes out' at the Take Back America conference"
Be sure to check it out.
Scott Schwebke has had access to the Mayor for years. What has that gotten him (and us)? Simply a reputation for his being a mouthpiece for the Mayor, repeating verbatim with out question anything the Mayor chose to tell him, fact or not.
I think his asking questions, digging for facts, and perhaps risking losing access is a better deal for all of us. The Mayor can't afford to lose his incumbent's bully pulpit at this stage in the game.
What, is it possible that the chucky cheeze look a like mayor is going to pull a,a, DICK CHEANEY, blame the media for his own shortcomings and misbehavior?
Oh, did I mention Dorrene Jeske is this months"Champion of the people" Please take a bow Dorrene, a true Ogden hero.
To some facts said..
You made the statement that "The highest priced piece of undeveloped (sort of, is on the east bench and has electric and sewer to it) land in Ogden in sold for $332k for 1.4 Acres. Near Mt Ogden Park."
The rest of the story is that the very run down house on the land had to be torn down and the land filled in where its basement was located at a cost of at least an additional $35,000. Thus the land cost was more like $367,000.
Then the new owner of the property subdivided the lot into three seperate lots (roughly 0.46 acre/lot)at an average sale price of $170,000 per lot. Additionally, each lot will still need a lot of improvements to connect to the public utilities, as now three residents will exist where there was only one before.
That makes the land worth $510,000 (170 X 3)for the whole piece of property or roughly $365,000 per acre (still needing some improvements).
The mayor can't afford to loose the press as a vehicle to spread his propoganda. He's dead if he done and he knows it.
Seems to me that the SE, i.e. Scott now has the upper hand. The table has turned and the mayor now realizes that you know it to.
Go for it guy, he needs you even when you are critical of him or his actions. And we, your readers need you to take advantage of your advantage for the best interests of the city.
If little matty Dogfrey runs for mayor again, and wins, he will sell the golf course to CP.
If little matty Dogfrey runs for mayor again and loses,(lame duck mayor) he will sell the golf course to CP.
If little matty Dogfrey doesn't run for mayor (lame duck mayor) he will sell the golf course to CP.
We should be less concerned about appraised value of the land and more concerned about what type of legal action we need to take RIGHT NOW to prevent little matty Dogfrey from ever selling the land.
Matthew Godfrey is as corrupt as he can be and still be legal.
As for Scott Schwebke: I don't have any confidence in any reporter that doesn't know the difference between north and south as in the Megaplex 13 is north of the Salomon Center. (See the article in last Sunday's Substandard Exagerrator).
GG2G Godfreys' Got To Go
Reducing Mr. Schwebke's story to essentials, here is what we end up with: we now have it from the mouth of Mr. Patterson, Chief Exec. Officer of the Peterson/Godfrey administration, that the numbers provided to the consulting firm on which they were to base projections of their cost/benefit analysis of the Gondola/Real Estate Speculation Scheme are not reliable. In fact, he now concedes, one of them was understated by 250%.
In a nutshell [as if this was news]: the numbers Mayor Peterson/Godfrey supplied to the consultant and on which the resulting estimate of costs and benefits from the project are based, are not reliable. How do we know? Mr. Patterson told us so.
Not a bad story at all when you look at it that way.
Let us taxpayers vote to decide if we want to sell the park.
I thought it rather interesting that Lewis, Young, etc. used other golf courses in other towns as a reference for their analysis instead of Golf City which is located a few miles south. It would be interesting to know what Ivory Homes paid for it. As I recall, it is considerably more than what Godfrey is willing to sell Mt. Ogden Golf course to Chris Peterson.
BTW Bill C., when you were speaking of Mt. Ogden G.C.'s debt, you forgot to mention that the loan on which only interest has been paid since the mid 1980's belongs to the cemetary, not the golf course. Godfrey's way of making it look like the golf course is losing more money than it really is!
Dan S., you said "Of course, if Peterson isn't willing to pay more than $7 million for the property, then the whole project oughta die because that won't go far toward paying for the urban gondola whose actual cost would be around $30-40 million." THE WHOLE PROJECT SHOULD HAVE DIED WHEN WSU AND THE REGENTS SAID THAT THE WSU LAND IS NOT FOR SALE! I've heard Chris Peterson say that he had to have all the land or the deal was off. What I'd like to know is: "WHAT IS WRONG WITH GODFREY? CAN'T HE FACE REALITY?! IS HIS EGO SO BIG THAT HE CAN'T ACCEPT THE FACT THAT SOMEONE HAS TOLD HIM "NO!" NOT JUST ONCE, BUT TWICE!! He was at the work meeting when Chris Peterson and his attorney met with the Council and Chris Peterson told Councilwoman Jeske no, he would not expect the City to sell the golf course to him if WSU did not sell him their land. Let's bury the downtown gondola along with Chris Peterson's resort and gated community. Who is going to ride a gondola that doesn't go anywhere?
Godfrey will have to move his family out of Ogden if he has that worthless piece of junk called a gondola installed in Ogden.
Check out this article about Ogden in today's New York Times.
The reporter spent a couple days out here back in April, and I took her for a hike on some of the trails threatened by the Peterson proposal. Unfortunately, the discussion of the proposal at the end of the article is far too brief to give an accurate picture.
In the statement of mine that she quoted, I was referring not just to power lines and water tanks but also to the topography and faults that run through the foothill area where Peterson would put the gondola terminals, as well as the whole concept of people parking downtown and taking a 24-minute gondola ride over the city just to reach that spot.
Metcalf's commentary makes a nice companion piece to go with the NYTimes article. Pure coincidence, I suppose, that they appeared at almost the same time.
Everyone should run, not walk, this morning, either to $tarbuck$ on Riverdale Rd. or to WSU (the only two NY Times outlets in the county) to see this gorgeous on the front page of "Escapes." The internet doesn't do it justice.
Have we arrived, or what? And, I might add, on our merits, not because of any frivolous gondola ride.
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