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Cordish Gets Away With It

September 2nd, 2009 by admin · 7 Comments

LEO tried to find some contractors to explain how renovating a sports bar could cost more than $112 per square foot. LEO’s Jonathan Meador even went undercover to size things up inside the Sports and Social Club, enduring one of those faux country bands and plastic cup-beer to do it.

And with all that, he could only find about $725K in expenses. And that’s going the Rolls Royce route, rounding up and making generous allowances for a building that, in part, wasn’t even renovated.

So LEO’s estimate on the Cordish rip-off of taxpayer dollars is about $225,000.Whether something like that went into the Cordish corporate coffers, Paris Hilton’s checking account or was kicked back in some secret way to Jerry Abramson, we’ll probably never know.

At least the Metro Council is making some effort to make sure it never happens again. And tomorrow, activist Chris Thieneman will hold a press conference to announce he’s taking another route to getting an accounting — through the courts. It’s likely that A.G. Jack Conway will have his own critique of the deal soon.

But the bottom line is that this deal, with all its scrutiny and gnashing of teeth and complaints from local business owners and with the public silence from Cordish officials — is done. Let’s hope that all this publicity will do one thing — keep the Mayor from doling out the remaining $850,000 available in forgivable loans — to Cordish or anyone else, without a full accounting.

Many sources have told the V.V. that on the dozens of smaller forgivable loans provided to businesses by Metro Government, accurate record-keeping is a requirement, and that transparency is a given. No business goes to the city asking for a loan without a list of expenses on which the money will be used.

Except for Cordish.

Tags: Chris Thieneman · Cordish · Downtown · Jack Conway · Jerry Abramson · Metro Council · Metro Government

7 responses so far ↓

  • 1 Steve // Sep 2, 2009 at 4:44 pm

    Let’s hope that all this publicity will do another thing — keep the rightly outraged public out of Cordish businesses and developments.

    The Mayor and Cordish need to learn that lacking transparency is bad for business.

    And local restaurant owners need to know that their neighbors champion the local food, service and flavors that make Louisville a uniquely great restaurant town.

    They deserve our patronage and our gratitude.

  • 2 chief // Sep 2, 2009 at 8:58 pm

    Don’t FORGET that the additional $850K is already Commited to Cordish…..Plus there is an EXTRA $350K left over from that Marriott money that no one really is aware of , Except for Jerry & Traughber……Word is they aren’t letting on that it’s there!

  • 3 Dan B. // Sep 2, 2009 at 10:55 pm

    And this guy wants to be Lt. Governor?? Hello Kentucky!

  • 4 chris thieneman // Sep 2, 2009 at 11:01 pm

    Steve let me add to your comment on staying out of the Cordish business’, if these business’ don’t stay in biz the Cordish Company will have to pay part of the forgivable loan back to the city.

  • 5 Crutnacker // Sep 3, 2009 at 7:17 am

    My thought is that our government may be done with Cordish, but we as citizens should not.

  • 6 Chuck // Sep 3, 2009 at 10:07 am

    That is why we need to have a citizens picket of these businesses around the downtown area and let word out that we should not support corporate welfare while we have 11000 homeless people sitting on the curbs trying to hopefully claw their way back up. Yet somehow, its more important to help out Cordish. Gee, the Sports and Social club and then of course the acclaimed Centre City deal

  • 7 Chuck // Sep 3, 2009 at 10:20 am

    Looking forward to the 1030 press conference regarding the whole 950,000 Cordish payoff.

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