Thursday, March 11, 2010

Just Say It Ain't So, People Will Forget

Ah, there's nothing like listening to the shills struggling to cover up for the mayor's pecadillo. The far-right partisan site "VoteLongmont" steps up and tries (unsuccessfully) to stick a fig leaf over the scandal:

Mayor Baum when campaigning stated at a previous candidate forum that the mall owner was having trouble. He also stated that we previously obtained 22% of our sales tax revenue from the mall and that now it was down to around 6%. Kaye Fissinger, was a council candidate when he made this statement was present at the same forum. It was also at a previous town hall meeting in which Council Levison, Benker, and Hansen were present in which Levison stated that she wanted to see Panattoni's books as she felt they had more money than they were letting on. It was also at the same town hall meeting that Council Hansen said that the mall theatre (which many in Longmont want!) wasn't a priority for him as he gets his movies from Netflix. I'm disheartened to see all few comments that point to a website (which recently attempted to associate the mayor with the KKK) and that is gleefully hoping that the mall fails on the new council's watch. The mall is a top priority to Longmont citizens and they have been telling the former councils that for years in surveys, etc. Hopefully Panattoni will be able to hang on and rebuild the mall for the Longmont community. Thanks to Rachel Carter and Tony Kindelspire for getting experts to back up what Mayor Baum and Council Witt have already said.
VoteLongmont, Longmont, CO, 3/11/2010 1:39 PM

The issue Ms. Fissinger brought up was the -value- of the Mall (link) here's a short excerpt:

An email dated February 10, 2010 from Councilmember Katie Witt to a constituent reveals that Panattoni, owner of Twin Peaks Mall, is in serious financial difficulty. The future of Twin Peaks Mall is in jeopardy and may fall victim to a “fire sale.”
According to Witt’s email, the Twin Peaks Mall was purchased for $37 million and is now worth only $17 million.  She also states that Panattoni placed $8 million down when the mall was purchased
Because of the collapse of the financial industry which began in the spring of 2008, greater accountability is now required from financial institutions.  Banks are “shedding loans that do not have at least 50% equity invested in the property.”  Since the Twin Peaks Mall loan currently fails to meet that criterion, Bank of America may call the loan and the mall would likely be sold to the highest bidder.

Click here for the full text of the email.

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The real problem the Mayor is going to have is distancing himself from Longmont's nonstop attack bloggers who have made such sport of the Progressives - for a mayor that's all about 'unifying' Longmont he sure has some hateful pals.

1 comment:

Kaye Fissinger said...

Vote Longmont has severe reading comprehension problems -- amongst others:

S/he says, "Thanks to Rachel Carter and Tony Kindelspire for getting experts to back up what Mayor Baum and Council Witt have already said." Oh, really!

Times-Call finally had to write about this because it had penetrated too deeply into the public domain. They can't afford too much damage to their "professional" reputation. Sometimes it is necessary for them to throw their chosen politicians under the bus -- no matter how much it hurts.

Baum and Witt and their echo chamber tried to spin it but got no traction. Truth and facts do have a way of rising, even when schemers and liars try to prevent it.