You’re about to be shaken down, as taxpayers, for Cordish Cos. and you know it. Metro Council knows it. Greg Fischer and crew want to give the company hundreds of thousands more to do what any other company could do without an $850,000 gift.
Kelly Downard and Brent Ackerson aren’t happy about it:
But during the hearing, Councilman Kelly Downard, R-16, admonished the mayor’s economic development team for failing to ask Cordish enough follow-up questions, adding it underscores what he calls the city’s one-sided relationship with the developer.
“Why in the world would you go forward based on incomplete information? Especially since to access the money there’s a requirement to have a copy of the lease. If you didn’t know who the tenant was we’re running out to get money and we don’t even know who it is yet we have to know by contract,” he said.
-SNIP-
Government Accountability Vice-Chairman Brent Ackerson, D-26, says the city’s deal with Cordish is fundamentally flawed because it gives the developer too much important property under different agreements with little recourse or transparency.
“One person having multiple contracts where they control so much of this city’s valuable real estate is not a good situation. It does not promote competition and it does not promote true market values to what’s happening. The concern really boils down to we cannot allow one entity to monopolize what’s going on downtown,” he says.
Oh, and Greg Fischer is sorry, kinda:
Louisville Mayor Greg Fischer’s administration apologized for a botched loan agreement with The Cordish Cos.—the developer of Fourth Street Live—during a Metro Council committee hearing on Tuesday.
Click here to read the entire thing.
Meanwhile, Fourth Street Live continues to fail, isn’t utilized by locals, it’s riddled with crime and weird shenanigans and not even out-of-town visitors care to spend their cash on homogenized bars or whatever they are.
5 responses so far ↓
1 ace hat // Mar 15, 2012 at 12:22 am
If Cordish is actually awarded this $850K….The Taxpayers of this city should GO NUTS!…..The Ongoing problem is that No One thinks they can do anything??….That’s BullShit!….Just don’t give it to them and let then sue!…..That’s what they did to the Firefighters!…..at lease the door will be opened to the discovery of the way ALL the PREVIOUS 50 Million was spent over the past 6 years…..If Cordish wants to litigate? Let’em! what do you think will happen?….It’ll take forever to get the decision, and US the Taxpayers will maybe be able to see exactly what the sales and tax returns on the already failed places are / were?? Someone should do the math….50+ million spent vs. revenue , minus operating expense=What….No Body paying Rent and getting evicted and NOW we’re going to Up another almost Million Bucks for another similar scam that will be exposed for non performance in a couple years!!…..Bring back Jerry & Traughber , indite them for collusion & conspiracy !….Burn their Ass!..Then charge David Tandy and depo him!…..Follow the Money!. Follow The MONEY!….
2 jake // Mar 15, 2012 at 7:28 am
Hahahaha, go nuts? Hahahaha.
Metro Gubmint gave Bud Shart…Schardein a $200,000 hush money bonus and no one said a thing.
Riiiight. No one in this town is going to say a word about flushing a million down the drain.
3 ace hat // Mar 15, 2012 at 8:06 am
It’s like everyone is on Dumb Dumb pills, or maybe they put something in the water supply?…Most people just don’t have the motivation to go chase and challenge these type of screwy deals cause they don’t consider themselves a stakeholder in it. They just think it’s something that really doesn’t affect them, The only people it infuriates is those that it directly affects on a lateral business level, and when Those people try and speak out, they get branded as troublemakers.
The council members , even though a couple have seemed to try, just don’t ask the right questions and get it in the right perspective. They are way too political polite when trying to address this scam!
4 The Highlander // Mar 16, 2012 at 9:59 am
Ace Hat is ‘on target’ here. The absolute ONLY WAY that the public can get to the bottom of Happy Pants’/Traughber’s/Arm’weak’ and Larry $250k Hayes’ travesty (a/k/a Cordish) is to bring litigation or cause litigation to occur (by not paying the $850k).
Depositions UNDER OATH of every one involved in this crap for the last decade, and TOTAL AND COMPLETE DISCOVERY OF EVERY DOCUMENT is the answer AND THE ONLY ONE.
Might I suggest that someone like David Jones Sr. with a lot oa $$ and a desire to ‘clean up Louisville’ fund the ‘taxpayers’ suit” to do this.
There’d be more tight a-holes among Happy Pants’ retinue and Arm’weak’s lolly-gagglers than you can shake a stick at.
5 ace hat // Mar 16, 2012 at 8:00 pm
How’s about the Mayor ordering the “Study” fotr another $10k as to the impact and effect the 4th St deal has had on the city & the community ??….ROFLMAO!!!!What a “Puff Piece” that’ll be!….I’ll give you 100-1 it includes NO real content as to the ROI directly related to the Money spent.There surely must be a way to identify the Sale Volume of all those individual places. I’ll give you another 200-1 that if the places are analyzed on each individual basis under “Normal” accounting practices, Back to the original ones that have have been failures!….they have LOST their ASS!….The real Study needs to be one done by the US Attorney!
Leave a Comment