November 1, 2007 the Circuit Court of Lane County, ordered under presiding judge, The Honorable Karsten H. Rasmussen, that 5 special districts in Columbia County, which are, Columbia County 4-H and Extension Service, Columbia Drainage Vector Control District, Rainier Cemetery District, Columbia Fire and Rescue District, and Columbia 911 Communications, are not authorized to participate in the Intergovernmental Agreement, the Northwest Regional Educational Service district's participation depends on the amount of tax revenue transferred to REDCO each year, which would have allow special districts to "give back a portion of tax monies collected from US Gypsum" to pay down the debt incurred by REDCO (Rainier Economic Development Agency. The debt that REDCO owes is approximately $7.4 million dollars with a payment of $600,000 yearly and the payment goes back to US Gypsum, for money that REDCO borrowed from US Gypsum ($3.2 million plus interest=$7.4 million) to buy the land that the facility now resides on. REDCO in their infinite wisdom made an agreement to cap the tax monies collected from the Gypsum Plant, at $300,000. When they knew well that the yearly payment would be the amount of $600,000.The debt should have been paid off by the year 2016 with the yearly $600,000 payment.
The REDCO boondoggle has affected the taxpayers of the county tremendously, people in the whole county will see a portion of their tax dollars going to pay for this unnecessary expenditure, the taxpayers in the Rainier REDCO boundary may see an increase in their taxes, and the Port of St. Helens will also be coughing up funds to make up the short fall. The problem with these three government bodies' giving up funds, many taxpayers are in all three special districts, and will subsidize a billion-dollar corporation which needs no propping-up, while the budgets of local government departments will be drained. And most likely these special districts will come to you, the taxpayer, for an increase of funds, in the future to make up this shortfall, while your hard-earned money is funneled to greedy multi-national corporations
The Economic Development Agency of Columbia County is quote: "a BLIGHT" on the taxpayers of this county. Right now we could very well have somewhat of the same problem at Port Westward. Right now urban renewal for Port Westward is $36 million dollars in debt, not figuring the standard 6% interest costs, which can easily double our debt. Again, while the taxpayers are paying into COLCO DEV Agency on their property taxes, the money strictly goes to the so-called quote: "development" of Port Westward and to the excessive profits of huge corporations.