I then spoke to Commissioner Hyde, (who was very direct in answering my questions).   I asked him about the document/spreadsheet that I was given by County Counsel which both He and Olson claim to have authored.
Regarding the payback document/spreadsheet who ever wrote it. There was a portion of the document that bothered me. Quote: " the advantage of holding the reserve would be to cash flow payments/ activities prior to annual tax payments, however use of the reserve is a discretionary item that can be applied in various ways".

I believe that the language can be interpreted to mean that the money collected could be used for other things/ activities other than just the loan payment. I discussed this Issue with Commissioner Hyde, and he agreed with my interpretation.  He said that he would is in favor of having the language changed.

I mentioned this verbiage with Mr. Olsen and he said that it was his intent when he wrote it and I have interpreted it wrong.  I suggested that it be written in a plain decisive way so that there would no misinterpretations.  He agreed that it should be changed.  I plan on attending the REDCO/ City meeting Thursday the 26th at 5:30.  I will see if they agree to change the wording of the document.

In my opinion there is a whole lot more here than what might meet the eye.  I believe that this entire thing is a BOONDOGGLE.  I for one am tired of representatives from the various entities telling me as well as others that the subject is very complicated, as if I and others are too stupid to comprehend what they have put together.

I believe that the entities involved should do something quite simple.  Be honest with the taxpayers, admit their mistakes, lay all the information and numbers cost to the taxpayer on the table. Pay off the corporate welfare bill and dismantle REDCO.

Money borrowed from USG  =  $3.2 million
Money to payback USG total =  $7.4 million + the 112 acres of waterfront industrial property. No taxes for 7-9 years under Enterprise zone, pretty sweet deal for USG!
And what ever other freebees USG received.

I will admit USG has provided some jobs, exactly how many to the local folk or how much they are paid is still unknown.  I am not privy to this information, but one thing I do know, is that Columbia County prostituted themselves to USG. What is sadder yet, all entities will admit to it shamelessly.

Columbia County borrowed money from the County Road Dept to build roads into USG. = Approximately $35,000.00 pay back for 20 years= about $700,000.00 to Road Dept from Columbia County coffers, that's our money any way you look at it. With that money they could have fixed quite a few chuckholes and erected lots of safety guard rails.

REDCO BOONDOGGLE CONTINUED NEXT WEEK….
                                   
                                                       Tammy

           

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