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Editor’s note: This letter was provided to the Reporter as a response to Bill Shaffer’s letter published in the Thursday, June 18 edition.
Dear Editor:
A friend of mine likes to say, “You are entitled to your own opinion, but you are not entitled to your own set of facts.” He’s right, of course. Facts are facts, and Bill Shaffer, in his 6/18/20 letter to the editor about new Carmel projects, got them wrong.
On Monday night, the council approved several projects, totaling $138 million in new investments. These projects will result in two more public garages, high paying headquarters jobs, a much-needed east side grocery store, and sought-after for-sale condos along the Monon Trail. These projects will also create an additional $224,000 in revenue annually for Carmel Clay Schools.
Here are the facts that Mr. Shaffer got wrong: Mr. Shaffer claims we added to the city’s indebtedness. That is not accurate. These projects use $26.5 million in incentives that have no risk to the City, even if the developments were to fail. The city has no requirement to repay the principal or interest on these bonds, and no taxpayer funds are pledged as a backup for repayment. The developers are solely responsible.
These facts were shared repeatedly at council meetings from initial introduction, to two subsequent committee meetings and then again upon final passage. It was explained over and over to those listening that these projects would not increase city debt or create any risk to the taxpayer. I do not understand how Mr. Shaffer got this wrong, unless he decided to use his own set of facts. I do not mind Mr. Shaffer sharing his opinions, or criticizing the council, but with that should come the responsibility of telling the truth using the facts at hand, so as not to intentionally mislead the public.
The fact that he writes, “it’s hard to justify it to the single parent just laid off from one or two jobs, trying to pay the rent to stay in Carmel so her kids can get a fine education” and puts it in the context of these new projects is absurd. These projects will bring permanent jobs to the city, dollars to local small businesses, financial support to our schools and keep our taxes low … once again, without any risk to the taxpayer or any responsibility to pay by the city.
So rather than the headline, “Shaffer shames Carmel officials for adding to city’s debt during COVID crisis,” it should have read “Shaffer praises city leaders for securing $138 million in investment during pandemic at no risk to taxpayers.”
That’s my opinion, based on the facts: Carmel is thriving, is a magnet for jobs and investment, and is not at risk of financial ruin. No amount of “reporting” by Mr. Shaffer will change that.
Sue Finkam
Carmel City Council Vice President and Finance Committee Chair
A friend of mine likes to say “First they ignore, then they mock you, then they fight you, then you win.”