Friday, September 07, 2007

Okay -- Emerald City is Only $93 Million in Debt

The bright side... We have the Salomon Center

We'll launch our Friday morning weekend kick-off thread with two Godfreyite letters appearing on today's Standard-Examiner editorials page. As to these letters, Boss Godfrey's preposterous "Debt is not Debt" meme is today's major Std-Ex theme of the day. What's common to both these letters is that the authors are hell-bent to rebut any assertion that Ogden City is burdened with $100 million in debt.

Timm (sic) Thorn's letter, a reply to earlier letters from Tom Owens and Dorothy Littrell, accuses these authors of disseminating false information and distorted facts; and yet Mr. Thorn's letter suffers heavily from exactly the same shortcomings. The author even gets into a little mind-reading along the way:

"...both of whom have revealed their motives in attacking the mayor... Neither of these individuals lives in Ogden...both these individuals know the truth about these matters but have chosen to distort facts... we find a series of letters filled with distortions because of their personal hatred..."

You get the drift. We especially loved the mind-reading aspects. This kid not only knows what Tom and Dorothy say, he intuits their very motivations and secret thoughts. The kid is obviously the second coming of Kreskin. We're assuming this guy is a kid, BTW; no adult could possibly write something so lame.

Contrary to Mr. Thorn's assertions, BTW, and just to set the true facts straight, we'd like to inform Mr. Thorn that Ms. Littrell is both an Ogden City property owner and a resident of our city, as anyone who's been paying attention over the last several years knows. And Mr. Owens is of course also a tax-paying property owner in Ogden (and a native Ogden "home-boy") too, which we think gives Mr. Owens adequate standing to complain about our bumbling excuse for a mayor any danged time he wants.

And then there's Mark Johnson's letter, a rambling and incoherent quasi-explanation of RDA bonding and tax increment financing, which can be summed up in four words buried midway through Mr. Johnson's text: "It is not city debt."

Well we have news for Mr. Johnson this morning; in which we invite him to examine Ogden city's Comprehensive Annual Financial Report. Scrolling down to page 120 we find this entry: Total Outstanding Government (City) Debt - $93,029,566.

Okay... Tim and Mark were partly right. We'll give them due credit for that. Our city's outstanding debt was only a hair over $93 million (as of June 2006,) and not the $100 million that some have suggested.

We'll also highlight this morning's Dan Schroeder letter, in which Dan persistently asks Boss Godfrey which particular foothill areas Godfrey considers "open" for gondola and residential construction.

For the full version of Dan's letter, complete with footnotes, be sure to check out this Ogden Sierra Club link.

And as an added bonus this morning we provide a link to our archive site sound files, where our readers can hear with their very own ears the quite petulant and snarky Boss Godfrey calling the WSU decision process "a farce."

And for those who haven't already heard about it, Ernest Health is coming to town.

That's all folks.

Let's hear it from our always-gentle readers.

Update 9/7/07 3:50 p.m. MT: Dan S. has graciously sent us a report on last night's city council work session, during which the council's main agenda was a discussion of the Mt. Ogden Community Plan. We've uploaded this document to an archive page, which can be viewed here.

25 comments:

Anonymous said...

Godfrey has never taken the park land east of the golf course off the table - despite the belief of many. And just to confirm Dan's comments, a friend of mine e-mailed the mayor asking if he were re-elected (again) would the golf course and surrounding park lands continue to be off limits to development. The mayor's response was that he would not sell the golf course. No mention of the park lands.

Anonymous said...

Both of these guys (Thorn and Johnson) are sticking up for Godfrey. 20 mil, 40 mil, who cares guys. As long as the construction continues and the mayor can claim it as his initiative. I wish my bank was as carefree with my balances as you all seem to accept as Ogden's debt load. A $20 million discrepancy would seem to indicate smokescreen and create more questions.

Also in response to yesterdays Anonymous, if the Junction had to rely on guys like you who turn and go elsewhere when Costa Vida has a minor crowd then good luck to them. You only proved that you are too willing to shop or dine where it is most convenient and the public will do likewise thus putting the whole business model in question. You might want to be a little more patient and drop those dollars where Godfrey needs them, in the Junction.

Anonymous said...

It is not city debt. For example: When a developer develops a piece of property in an RDA project area, the property base (property value) is frozen, and only the increased value (tax increment) generated by the project can be used for development improvements, including debt.

OK, let me see if I have this right: city tax revenues can be used to pay off the RDA bonds. But the bonds are not city debt. Sorry, Mr. Johnson, that fails the duck test. City tax revenues go to pay it off, but it's not city debt? Uh huh.

From further down in Mr. Johnson's letter: There is no city obligation for any RDA debt, with two exceptions where city assets were pledged in order to significantly lower rates.

OK, let me see if I can translate that into the language ordinary people not on the Godfrey Spin Team use: "Ogden City has no obligation to pay off RDA bonds, except when it does." That about it?

As I read his letter, a line from the Wizard of Oz kept running through my head: "Pay no attention to the man behind the curtain!"

In fact, there are two letters in today's paper arguing the same thing. The Hizzonah must be worried that voters are figuring out what's going on.

Anonymous said...

Does anyone know exactly what the Johnson's "two exceptions" are, and what is the associated dollar amount?

Here are the 2006 numbers from page 120 of Ogden's financial report (pdf linked in Rudi's article):

General obligation bonds: $20,020,000
Lease revenue bonds: $3,495,000
Tax increment revenue bonds: $50,520,000
Special assessment: $257,000
Revenue bonds: $10,518,496
Notes and leases payable: $8,219,070
Total: $93,029,566 (yeah, I checked the math)

Apparently, when Johnson says that "Ogden city's debt...is approximately $20 million," he's referring only to the general obligation bonds. He tries to argue that the RDA debt shouldn't count; presumably this is synonymous with "tax increment revenue bonds". But what about the other $22 million?

And where does Thorn get a figure of $40 million for the RDA debt?

Perhaps someone can enlighten us on the exact meaning of each of these line items.

Anonymous said...

I pulled up the info that Rudi referred to, but found it on page 124 in my version acrobat program.

Should also point people (audited financials)to the auditor's report about debt that states that the city has to include RDA debt in the city indebtedness as the city is responsible for that debt. Additional evidence of this is the city's necessity to pledge city buildings as collaterialize to that RDA debt (and we've done a lot of that lately).

Anonymous said...

It's "Timm Thorn", two Ms, to you, bub.

Further evidence of his emotional (if not chronological) youth and inexperience.

Reminds me of the old Tom Lehrer joke. "I had a friend who wanted to be unique, so he spelled his name h-e-n-three-r-y. The 3 was silent, you see."

Anonymous said...

Interesting how Timmy Thorn doesn't go into the heart of the Owens letter which was the many millions Matt Godfrey has lost for the city with the various law suits he got us into because of his arrogance and stupidity.

Also missing in his treatise is the other Owens main point about the primary function of city government - the infastructure stupid - that has been completely ignored by the Mayor and his team of dreamers.

He also conveniently leaves out the part about Littrell being a forensic accountant with many years of big league experience.

His whole theme seems to be centered on their positions being invalid because they do not live in Ogden. This of course is invalid itself as Littrell does live in Ogden and Owens is, and has been for a very long time, a big tax payer in our fair city.

Anonymous said...

Hey Timmmmmm, how come you didn't attack the David Smith letter? Was it too cerebral for you to comprende eh?

Anonymous said...

The battle of the campaign signs is becoming disgusting.

I own a lot on Reeves Avenue between 20th and 21st Street which is a block West of Wall - very near to the property on Wall Avenue that the Mayor has sold to his buddies, Cris Peterson and the Leshems.

Thursday there were 3 campaign signs on the corner of 21st and Union Avenue - Neil Hansen, Susan van Hooser and Dirk Youngberg - on a City owned lot put there by residents.

During the day Ogden City employees came to clean the lot, took down the signs, and very carefully put them back in place.

Later in the evening 2 men came and removed all those signs.

Guess what happened next. A Matthew Godfrey sign has been erected right across the street.

There are no campaign signs left for any other candidates.

Anonymous said...

Found near the corner of 32nd and Polk while I was out for my morning exercise:

A sign that says, "Anyone but Godfrey for Mayor" with a circle and slash overlying Godfrey's name.

Hooray to the person who owns it. I hope you have a video camera trained on it so when Cap'n Bobby comes by, he'll be caught on your property "just straightening it up".

Anonymous said...

A friend is participating in the National Skeet Shooting Association US Open this weekend in Albuquerque.

While looking in the local paper's sports section for results, I came across the following 2005 article.

http://www.abqjournal.com/go/338470go04-14-05.htm

This passage made me laugh.

New roads have been paved, a clubhouse has been built and recreation vehicle hookups are being installed at the skeet range for out-of-towners who are expected to dock in Albuquerque during future events.

Mayor Martin Chávez says the park improvements will give local sportsmen a quality and safe place to shoot. He also expects it to draw national events and tourist dollars.

"It all falls in line with one of my goals to make the city an outdoor recreation capital," Chavez said. "On the business end, one of the best ways to make money is if you have people come in, spend their money and leave."


Gosh, and I thought Ogden's mayor was the only one for that vision. Which is likely to bring in more return on investment -- a skeet shooting range or a big-ass wind tunnel?

Time will tell.

Anonymous said...

mono:

Given the headlines of the last few days, I'd think the one thing Ogden does not need to spend money to attract is shooters. Now if we could figure a way to export a few....

Anonymous said...

Dan S;

Thank you. Much obliged.

Anonymous said...

Dan:

Thanks for the report.

Anonymous said...

Either Timmy or Markie missed a meeting of the Godfreyite UNcreative writing club. Timmy says "40 mil"...Markie, right up there snuggled close to Matt says, "20 mil".

I asked Don Porter and Andy Howell today, via email, if they have "verified" these disparate 'facts'? They have not deigned to reply. Natch.

They won't print my letter because Don doesn't have time to "verify" my claims. One dealt with the Bootjack LLC/Wall Ave properties ripoff and Tom Owens offer of $30,000. MORE than Peterson supposedly has paid for the properties. Gave him Tom's # and said, "Tom is waiting for your call". Did he, Andy or Dave Greiling call? NOOOOOOOOOO. "Too busy".

The Se still hasn't run a story on the theft of Neil's MANY signs and Amy's encounter with the sticky fingered Godfrey "campaign worker", one bratty kid named Bobby Geiger.

Suggested that the SE serve its readership by letting us know about Godfrey's minions. uh uh.

Well, we all paid for Godfrey's full page color ad last week, that recreated his campaign brochure. If you still have a copy and the birds in your cage haven't filled it with poop, note the OGDEN CITY LOGO!

Anonymous said...

What consecrated law did I violate? And whom did I offend? You are starting to make me sick.

Sincerely,
Dustin Chapman

Anonymous said...

From page 50 of the financial report. "The accompanying financial statements include all activities of the City and Ogden Redevelopment Agency (RDA).
The RDA was included because the separate governing bodies of both entities are comprised of the same
individuals and the City is financially accountable for the RDA."

Anonymous said...

The debt is onlly twenty million.

Anonymous said...

I'm not gay. I have never been gay.

Anonymous said...

Mayor Godfrey learns from the best. Say one thing but do another.
Just like republican senator Larry Craig.

Anonymous said...

Larry Craig just has a manly stance and big feet! He's also very neat by picking up toilet paper someone else dropped! And, he just wanted to make sure the partition was clean when he ran his fingers under it.

What's wrong with you homophobes, anyway? He was just trying to keep his little stall lovely for the next gay...I mean, guy!

Is that a crime?

Anonymous said...

On the subject of campaign signs in Ogden:

A yellow truck sporting the Descente letters was
spotted earlier tonight in the parking lot of a popular 12th street restaurant. Its occupant, unidentified, was seen walking around the front lawn with a sign in hand (presumably of Royal Eccles). As I noticed him, I turned around to check things out. As he was pulling out, I pulled in. Upon entering the establishment, I spoke to the manager on duty. I informed him of the giant Godfrey sign and multiple Royal Eccles sign that were stuck to their property. After phoning the owner, the manager affirmed my suspicion that
the signs were neither approved nor were they
allowed. The manager and I then proceeded to
have them removed. This seems to be case all
around Ogden. Arrogance is bliss when it comes to Godfrey and his team of relentless henchmen. I wonder how many other signs are planted illegally???

Anonymous said...

But a real estate agent told him it was okay. It all depends on which real estate agent you call. Get on the G-train, buster!

Anonymous said...

I noticed a large Royal Eccles sign out in front of the Smith's at 12th and Harrison. I doubt that Smith's allowed this sign and wonder who has authority over the narrow grass strip along Harrison. My sense is that the Godfrey gang will put up signs all over assuming most will not be challenged. They have no soul and no sense of morality.

Anonymous said...

Well.....DUH!

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