A bum deal
December 1, 2007
You reported that the city is paying $18.5 million for the BMC West property and there hasn’t even been an appraisal done on the property! Are you kidding me! No wonder they are overpaying.
The city and county Open Space and Trails Boards have a requirement to get an appraisal BEFORE proceeding with an open space or a trails purchase. That is part of their “due diligence” … and the citizens continue to support these valuable boards be-cause of the businesslike way that they do their work.
The city is “borrowing” from its line of credit to make this purchase. When was the last time your banker allowed you to borrow money without getting an appraisal? Never.
Citizens, you have just been told that your taxes will increase in the city by more than 40 percent. Now look at the way they are spending YOUR money.
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