Dear President Worrell and Members of the City Council,
First, it is important to note that your most recent response still does not include a single document related to the “Developer Guarantees,” despite multiple requests.
Graphic provided
Respectfully, I have no alternative but to attach the Records Request documents for the third time. I’m sure you understand that, in the absence of transparency, it is impossible to determine the validity of the PIATT claims.
I am encouraged by three elements of our discussion:
First, there is no dispute that Pedcor’s “guaranteed” construction is vastly behind schedule. Second, that the taxpayers have undertaken a total of $29 million in debt, based on the “Developer Guarantees” (which you insist exist, but have not documented). Third, that public funds are being used to build the “Hotel/Motor Court” that was clearly one of the buildings “guaranteed” by Pedcor, as shown in multiple presentations.
I am compelled to respectfully ask this simple question: Why are taxpayers paying to build the “Hotel/Motor Court” that Pedcor had already “guaranteed”? If the “Developer Guarantees” were working properly, it would seem that Pedcor would be paying for construction of the hotel/motor court.
It is not my intent to offend or disrespect you, but respectfully, your explanation does not match the undisputed facts of the matter. I simply and respectfully request transparency from the City Council in providing the public documents that explain the “Developer Guarantees,” as well as explaining why taxpayers are paying for a building that, allegedly, Pedcor had already “guaranteed.”
Most sincerely,
Mike Shaver
