MAYOR’S SPORTS ARENA MADNESS MEANS BIG BUCKS TO “FRIENDS”
Sunday, August 20, 2017 … 1:20 P.M. …
Even I do not believe what I now know about the outrageous plan of Mayor Ollie Tyler and our so-called “Sports Commission” to build a sports arena on Cross Bayou.
Straight from Tyler’s well-worn NO-transparency playbook are a few staggering specifics …
… made available to us just before Monday and Tuesday City Council meetings which may, in truth, seal the deal.
The required borrowing of $30,000,000 for the arena is supposedly conditional on Shreveport “winning” a semi-pro basketball team – a claim honest folks should certainly not believe.
The now-released details are long on taxpayer money to Team Tyler’s buds, just as they are short on mention of how $30,000,000 may be better spent on such screaming Shreveport needs as …
… public safety enhancements, a/k/a reducing crime,
… top-to-bottom criminal investigations of local public corruption,
… investment in collapsing infrastructure, e.g., streets, water and sewer, etc.
… property tax reform, and
… many, many more real, obvious, and inarguable needs.
The subject RESOLUTION NO. 147 OF 2017 (SEE link below, with thanks to KTBS-TV) will be chatted about in tomorrow’s City Council work session, then initially voted on in Tuesday’s Council meeting. (SEE link below.)
The “second reading” and final vote to approve this ruinous op will be September 12th.
What jumps off the page of the Resolution is the list of people / firms already lined-up to score big bucks for “professional services” supposedly needed to build a sports arena.
Here is that thus far admitted-to list … and please note that I am NOT making this up …
… two bond counsels, one of which is extra and political;
… a “municipal advisor” from Little Rock to go along with the “bond counsel” and extra “bond counsel”;
… investment bankers / underwriters “in connection with the sale of the Bonds”;
… a “Disclosure Counsel” necessary “to assist the City with respect to continuing disclosure matters in connection with issuance of the Bonds”;
… a “Paying Agent / Registrar” with “respect to the Bonds”;
… a “Special Counsel to the City,” in addition to the City Attorney, somehow necessary “in connection with the issuance of the Bonds and economic development matters”;
… “Special Tax Counsel … to assist the City with respect to federal tax matters in connection with the issuance of the Bonds”; and
… “Environmental Counsel” to assist the City on “environmental matters”.
This legion of “professionals” will be paid what the “governing authority,” a/k/a City Hall bosses, decide … later … in secret.
Other than to say that all local, state and federal law enforcement investigators and prosecutors can and should immediately go to work to stop this, I add only this …
… I have never seen such a proposed public project more illegitimate on its face than this one.
If there was ever a need to call your City Council member, it is now. Here is contact info:
© 2017 Elliott Stonecipher … ALL RIGHTS RESERVED
City of Shreveport Resolution 147 of 2017:
Council Meetings Agenda, Page 5, Res No. 147: