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:
As if the sexual harassment, hotel cost overrun, and $1.3 billion debt scandals weren’t enough, simple arithmetic unearthed a fourth.
In its annual financial reports to the state’s Department of Local Government Finance, the Carmel Redevelopment Authority documented $157.4 million in deficit spending over the last three years.
Disbursements exceeded receipts by $84.8 million in 2018; $46.4 million in 2019, and $26.2 million last year.
That’s eight and a half times greater than the shameful $18.5 million (or 46 percent) cost overrun on the Hotel Carmichael construction.
On a happier note, $157.4 million is a mere 12.1 percent of the $1.3 billion debt.
For a moment, there, I thought the progressive central planners at City Hall were in trouble.
Bill Shaffer
Carmel