By Curmudgeon
The SL Trib has a story up this morning which is well worthy of a good close look, as Ogden voters stand poised on the eve of Tuesday's municipal election:
• Consultant to South Salt Lake: Don't Bond For Market StationIt seem a grand development project [mixed condo and retail project --- sound familiar?] planned near a coming street car station has fallen into financial problems. Fortunately for the City of South Salt Lake, the city did not put the taxpayers on the hook as guarantors of the bonds for the project [as Ogden did].
The developer has now asked South Salt Lake to float a $9.5 million dollar bond to buy land from him at the site in order to allow him to pay off most of a $10.5 million dollar debt to America First Credit Union, which is about to foreclose on the loan.
And what did South Salt Lake do? It hired a consultant. [Ogden voters please note: its consultant was not the developer.] And South Salt Lake's independent consultant has told the city not to go into millions in debt to bail out the developer.
The story is well worth reading as an illustration of how competently managed cities handle development without putting the taxpayers' on the hook for millions. And it offers, I think, a good example of why it is important on Tuesday to elect independent council members for whom fiscal responsibility and fiscal conservatism are not empty phrases to be trotted out at election time and then forgotten.
The administration's bad judgment, endorsed by a rubber stamp council six years ago has loaded Ogden down with millions in new debt to bankroll privately owned commercial developments --- we're paying $750,000 a year right now to service the bonds the Mayor assured his rubber-stamp Council the city would never have to pay --- and the Administration wants to offer millions more in public funds to help bankroll a new hotel project at the Junction. Given that, electing council members of proven independence who will not simply become yes-men for the administration's latest multi million dollar obsession is important.
Ms. Van Hooser has proven her independence during her two years previously on the Council. [Her opponent, Mr. Hains, is yet another realtor PAC "yes man" for the Godfrey Gaggle, it seems.] Mr. Garcia has proven his independence in office as well. Mr. Stephens too on key votes has shown the kind of independent judgment Ogden needs on the Council, and he's also demonstrated throughout his tenure a commitment to finding middle ground and workable compromises when such are possible. [They aren't always.]
Keeping Ogden from sinking deeper into the debt hole the Godfrey administration has dug for it will depend on the independence of the Council members we elect Tuesday. I hope voters will keep that firmly in mind on election day.
Once again, take a look at the Trib story here. There is much to be learned from it, I think.
2 comments:
Another story that appeared on the front page of today's Trib, above the fold should be read by Ogden's leadership as well.
It turns out that many cities and counties in Utah inflated job creation figures after spending money for the Federal economic stimulus package.
Speaking of which, what's the story on the economic stimulus funds which were dumped into the Ogden River? Haven't heard much about that in our beloved Standard-Examiner, have we?
No. but there is a lot of dumping going on in the river by the bicycle shop. Remember Bill.
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