MORE DEBT for GT RDA THIS WEEK

The City Council Agenda contains a report about recommendations about future funding of the RDA. One note about the report is that it does not include any examples of what would be/ could be the option and result of Not Increasing the RDA's Debt. The City Council Deserves to have such a presentation and the PUBLIC should also be informed of all the Options and Realities. This kind of "Recommendation" is like picking being asked to pick which foot you want cut off as a punishment. Neither would be the answer, but, IF you knew one had bone cancer there may a better reason to pick one over the other.

We should all be tired of City Employees, and City Hired Specialists who do not document and disclose the option to exist with out DEBT Bonds and DEBT Financing.

Going into more debt... WHY? Well when the RDA goes into debt about 28 Percent of those funds can be drained off to pay City/RDA Employees. Citizens should have some say as to what they want their tax dollars to go to. In addition, if the Bonds are for the specific identified projects and only those projects the City / RDA should lift the blanket of classification of the entire city being "Blighted". The designation of being blighted allows the City to have power over your property.

So, IF this City Council approves the scheme to fund the City/RDA's operations by using Debt financing and paying interest in addition to excessive salaries of management, then at a minimum the rest of us should have our property taken off of the Blighted Designation.

It is the opinion of Gramps that you don't solve financial problems by going into more debt unless you have a money printing press. It would be better to lay people off, cut salaries of those earning more than 55,000.00 per year, (above the GT Average), Yes the projects need to be done, but like a house repair a prudent home owner saves up to make a repair, they don't put it on a credit card and pay interest.

Be informed, and let your City Council know how you feel.

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The May 10, 2011 Council Agenda and Staff Reports are now available on-line.

Click Below for Packet

http://www.cityofgrandterrace.org/archives/38/05102011%20Council%20Packet.PDF

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