Letters to the Editor do not reflect the opinions of The Reporter, its publisher or its staff. You can submit your own Letter to the Editor by email to News@ReadTheReporter.com.
Dear Editor:
One sentence in the Carmel city council’s 327-page final report on the 46 percent cost overrun at Hotel Carmichael tells you all you need to know about municipal government in that city.
It’s on Page 7.
“January 2, 2019 – Carmel Redevelopment Commission executive director . . . and Carmel Redevelopment Commission Finance Committee President . . . meet with Carmel City Council members Kevin Rider and Jeff Worrell to discuss the updated $53.5 million (construction) estimate at length.”
Thirteen months later the public learns of the overrun and the mayor of Carmel excuses it, praising those responsible for an $18.5 million increase on the $40 million hotel costs.
Two city councilors, pledged to serve the people, participated in the cover-up, ignoring the fact that his government backed commercial loans, bonds and “additional funds” totaling $58.6 million to what it euphemistically calls a public-private partnership.
Any questions?
Bill Shaffer
Carmel
Bill, I’d say Sue Finkham set herself up nicely in a potential mayoral battle against Rider and Worrell by having that statement in her report.
What happens to Carmel city finances if:
1. Interest rates rise even slightly
2. Property values drop 40%
3. Unemployment in the region ticks up
4. Rental moratorium ends flooding market with rentals