McWhinney doesn’t have the money for Crossroads Blvd. improvements from their taxpayer supplied slush fund called the Centerra Metro District. This despite having assured Loveland’s City Council previously on camera that they had the funds.
Now McWhinney is asking for a bail out of sorts from the City Council to allow them to take nearly half a million dollars from the I-25/U.S. 34 interchange improvements escrow fund with the city. They haven’t begun the improvements or even awarded a contract but believe the money is “available” since their newly convenient estimate says it will take less money than previously estimated. It is clearly another run at the same money Loveland residents overwhelming said was off-limits for anything other than improving the I-25 / U.S. 34 interchange.
McWhinney is also back this Tuesday (6:30 PM Council Meeting) for a third time to extract a special McWhinney Tax Holiday from Loveland’s City Council to build government subsidized low-income multi-family housing in Centerra. Once again McWhinney says the project is untenable without the proposed 61% tax reduction (CEF’s) but how do we know this? Unlike AIG, General Motors, banks and Wall Street firms the McWhinneys have long profited from government intervention on their behalf but without the need to disclose their own rewards from government assisted process.
If Chad McWhinney doesn’t cover the cost to our community of his new 303 unit apartment complex than someone needs to pay the costs required to provide these new residents local government services. Having working class taxpayers in Loveland further subsidize Chad McWhinney seems like an odd solution in tough economic times.
How can any member of Loveland’s City Council vote to manipulate the taxes to increase McWhinney’s bottom line when they don’t know what it is. Maybe Chad McWhinney needs to really start acting like a “partner” with the city as he says he is and disclose his own income from the proposed apartment project and other subsidized projects.
Perhaps if the Loveland Reporter-Herald began investigating substantive news stories instead of attacking what they call internet “citizen journalists” on their editorial page the city’s finances would be in better shape. Two suggestions would be the recent change for Rocky Scott regarding his role with McWhinney and another might be the potential termination of the Enterpise Group as a result of McWhinney pulling out their funding.
It is preposterous for Chad McWhinney to seek any further subsidies or bail-outs from Loveland’s hard working taxpayers while not disclosing his own profit from these projects. If the City of Loveland is truly his business partner shouldn’t they be privy to his profits and not only his costs? You need to know both to understand where the bottom line really is.
The lack of integrity and shame by the McWhinney organization is appalling as they ring our city council once again like an old rag for even more money while never disclosing how much is going into their own pockets.
I have to admit this story was something I doubted could even be true but checked the city website (you should link it) to find it is true.
How anybody from McWhinney can show their face in public after misleading our community on their contributions to crossroads is beyond me.
You should also report that Chad stood in front of our council and said the I-25 and 34 fixes would begin in 60 days at the beginning of the summer. It looks like they will now wait for the next council after november to see if they still have to spend the money for that intersection on that intersection.
They have been living off the metro district funds for so long they don’t seem capable to live without them. When the council said no to taking the 25.34 funds they ended up laying lots of people off. While I hate to see anyone get laid-off I am equally upset they were going to use our highway improvement funds to cover their payroll.
You made the point before and it is worth repeating. Someone needs to know how much money Chad is taking out of his company that all the taxpayers in Loveland are being asked to prop-up with our tax dollars.
It really isn’t very complicated to figure out. Private companies like McWhinney have no business running Metro Districts or any quasi-public entity that receives and spends tax dollars.
The temptation to direct that money into their own projects while avoiding their obligations to repair, improve or construct real public improvements is simply too great.
It isn’t McWhinney at all but human nature that is the problem. If the city gave you back all your property taxes to maintain the public sidewalk in front of your home or to spend on other improvements to your property the choice would be easy. Neglect the sidewalk and improve the value of your personal property especially when eventually someone else will improve your sidewalk anyway.
McWhinney is going to use the Metro District to improve their own properties first and only help with real public improvements once they are dragged by the hair kicking and screaming.
The problem is our city council members are permissive parents who believe in sparring the rod. Loveland is badly in need of adult supervision.
MW
The expectation The Reporter-Herald will engage in professional and objective journalism is an unrealistic one. People don’t go to work for The Reporter-Herald to have a career in journalism. It’s where they go not to have one.
As to the attacks recently made by way of unsigned editorials on their web site – this is evidence they are worried about the effect supposedly amateur journalists are having on their financial bottom line. Increasingly people are wearied of their bully pulpit approach to news and with the economy not improving a larger and larger number of people are terminating their business with The Reporter-Herald.