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Since yesterday's post, I've discovered several questions which deserve honest and complete answers - without delay!
If these have not been part of the public record, perhaps they will become so now:
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I have some questions for you about Council's recent action to purchase Fairhaven Highlands:
1. Since the endowment fund is held in a nonexpendable trust, on what basis did Council determine that the City is permitted to borrow from the endowment fund?
2. What are the terms of the endowment fund loan?
3. When are principal payments due?
4. To have a bona fide loan, there must be a source and intention of repayment. The press release says no general fund money will be used in the deal, so what is the source of loan repayment?
5. When are interest payments due?
6. What is the interest rate?
7. From what source will interest payments be made?
8. Which neighborhoods have the new development that generated the $500,000 in park impact fees Council approved using for the purchase?
9. What is the date of the appraisal being relied on?
10. What effect did foreclosure of the property resulting in bank ownership have on Council's valuation of the property?
11. Prior to 2011, the Greenway Advisory Committee and the Parks Board recommended to City Council $4,145,000 for acquisition of a portion of Fairhaven Highlands. When did GAC and PRAB review and make recommendations to City Council on this current deal?
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Since answers to these -and perhaps other questions citizens may have- may be critical to any final deal to be approved behind closed doors, I believe time is of the essence in receiving an official response.
I request that Mayor Dan Pike, Council Members Gene Knutson, Terry Bornemann, Barry Buchanan, Seth Fleetwood, Michael Lilliquist, Stan Snapp and Jack Weiss each individually and publicly acknowledge receipt of this urgent request.
To ensure timely receipt, I am e-mailing each of these individuals a copy of this entire communication, as well as the official offices of both Mayor and City Council.
The trusting public awaits your response!
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Sunday, September 4, 2011
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