One of the things that has bothered me most with the sale to MassPort , that I have mentioned many times, is that all monies that MassPort has contributed the past 10 years+ will be credited to the sale; for example, if the agreed upon price was $20 million and MassPort has paid $13 millions to close our budget gap---we net out 7 million.
Today I heard the Mayor on the Peter Blute show explain this and he referred to the monies MassPort paid as loans? Never knew that these were loans? In fact I vividly remember Robert Z Nemeth saying numerous times in articles how grateful we should be to MassPort for helping us pay for the airport. All the time they were loans?
Same Time Next Year
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It’s been nearly a year since I wrote about the problems that come from
having 11 bosses who are not on the same page about anything, as well as
suggestion...
4 months ago
8 comments:
I like the fact that Nick said give tax payers a break from the sale.. Joe's repsonse... we did already when they voted lowest residential tax rate...didn't real estate taxes go down.. and they just make up the difference on the 3/4 percent meal tax...
May I suggest that someone check the city's financial statements over the term of these supposed loans.
Assuming they were in fact loans and not grants, then one would assume these loans would show up as monies owning to Massport somewhere on the city's books. If they are not then the city has evidentally adopted Enron/Madoff bookkeeping practices.
Conversely, these amounts should show up on Massports bookkeeeping as loans to Worc Airport and not as giveaways
Where is Obama's transparency in the sale of Worcester Airport? Hope and change? Yes, Worcester will eventually realize only small change from the airport sale.
The City Dictator has a regular visit with Jim Polito on WTAG every Tuesday morning. Yesterday, he said that the money the city's going to get out of the airport transfer deal to Massport is going to be in "the tens of millions" of dollars range.
Jeff Barnard said...
"The City Dictator has a regular visit with Jim Polito on WTAG every Tuesday morning."
Kinda of harsh language Jeff for the City Manager, don't you think? I take it your not a big fan of Mike O'Brien.
Jeff:
I got to agree with Z. Mike does a grat job for the City.
As for the price, you are right. It may be in the ten of millions, but then you have to credit back the amounts MassPort has paid towards the operations of ORH the past 10+ years.
That's my point. First time I ever heard them referred to as loans was today.
I always refer to Mike as "the City Dictator", not because I don't think he's doing a decent job of it, but because that's what Plan E establishes: a dictatorship subject only to the pleasure of the City Council.
At any rate, Mike's "tens of millions of dollars" referred to what the city should expect to come out of this deal with. It wasn't a "sale price", since the city can't "sell" the airport per se. Polito's question was pretty specific, in asking how much the city stands to actually get out of this, so I don't see how there's any way for him to fudge that one!
I am still hung up on Joe.. I like Joe went to school with him... but we need tax relief not comments that people are willing to pay a little more for this and that... sorry not the case.. we need tax relief.. all these little fees are killing us... hey on the airport lets just be glad Mike got this done... the costs we have from this is far more than what we might owe...nice job Mike
Was Joe Obrien even on the council when the lowest residential rate was voted?
I thought he rode his green, carbon footprint free bicycle to the Voke school on or about January 25th to be sworn in as the new Mayor which I believe would be after the property tax rate vote.
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