Remember Salisbury’s NE Collector Road? You know, the road that was supposed to cut travel time to the mall in half and not cost the taxpayers a dime. At least that’s what Barrie Tilghman, Mike Dunn, Lynn Cathcart, and Gary Comegys told us (Shanie Shields just votes they way her masters instruct her to). I’ll admit, it’s a nice road. I use it from time to time myself. I just know that there’s no such thing as a free lunch … or a free road.
Well, it appears that the chickens are coming home to roost on that little ribbon of asphalt. First, the developers stated that they were giving the road right of way to the city. Then they demanded payment, despite the fact that the city was providing a TIF subsidy for the road. NOW the developers are in arrears both to the city of Salisbury AND to the TIF bondholders. According to Salisbury finance chief Pam Oland:
…an update related to the Aydelotte TIF. Currently for FY 10, all taxes (including special taxes) have been paid on all properties within the Aydelotte TIF, excluding the large parcel still held by the developers. That parcel owes regular taxes as well as special taxes for FY 10. The total amount currently due is $410,106.99. Meetings are currently being held between the developers, the bond holders and the City to discuss how to use the remaining funds in the project account and what are the updated estimates for sales. If the taxes are not paid by June 16th, the property will be auctioned during the tax sale.
What happens IF the property can’t be sold? It surely won’t be enough to cover the back taxes AND the bond principle.
Remember, the bonds were issued by the city of Salisbury! The taxpayers were promised that they would NEVER be on the hook for this blatant subsidy of another developer. I sincerely hope that this is one instance where the usual suspects actually told the truth.
Thanks Barrie. Thanks Mike. You might be gone, but the taxpayers just keep on paying!
from Delmarva Dealings
8 comments:
So much for "Growth Pays For Growth," eh Barrie, Mikey, Shanie, Lynn and Gary!!!!!!!!!!
Have to put Scotty B on his butt again, eh Mikey.
Joe, this is a result of the economy and the crash of the housing industry. I don't believe they want to be broke.
Barrie/Mikey were so very clueless on all of this. And....that photo of Barrie portrays exactly how she was during her Reign! Every time I see it, I laugh--it captures it all.
Anon 1345 -
You are right. They don't want to be broke. However, that doesn't justify the huge subsidy they received from the city. This was just one more example of taxpayer dollars being spent and the taxpayers receiving nothing in return.
Remember the Marley Manor lift station? Citizens were told that the city would make up the million dollar plus subsidy to Rinnier. Every development going up around Marley Manor laughs when asked if they will be paying to hook up to the lift station. The city will never recoup that money.
Is the developer Eastfield?
No, the developer is Paul Elliott of Elliott/Kinnamon and then there was the deal with Hanna over in that area.
2:17 don't fool yourself into believing Barrie Tilghman and Mike Dunn didn't know what they were doing. They knew exactly what they were doing and benefitted greatly from their misdeeds.
developer is bryan lloyd and kirk kinnamon
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