Yesterday the current Mayor announced a multi-million dollar baseball-softball facility to be built on the current farm land directly behind Meijer and the Hampton Inn on Scatterfield Road. He stated the project has been in the works for 2 years and is now set to break ground in April of this year, and bring 75 jobs to the city of Anderson.
The facility will encompass several diamonds outdoors, and two that will be indoor fields. The mayor states that this will be a facility that will be utilized by teams and entities across the midwest and that it has the potential to generate millions of dollars in revenues for the city via the increased traffic and business traffic created by those that utilize the facilities.
Thus far in drilling down into this project I have found several reasons for concern. First, of the 75 jobs this facility is supposed to create, only 1/3 of them have a POTENTIAL for full time status. Additionally, I strongly suspect that the lion's share of these jobs will be within the minimum wage compensation range. The remaining 2/3 of the jobs will be part time-seasonal positions.
Secondly, those of us in this state, and especially central Indiana, have watched as a professional sports entity pushed for the funding of Lucas Oil Stadium, forcing it onto the shoulders of taxpayers in Marion County and the surrounding counties. Among the validations used in selling it to the citizens was the promise of hosting a Super Bowl in 2012; something that looks very unlikely to happen now that the facility is up and running and games are being played there. So, if a professional sports league cannot follow through on promises of increased revenues etc., as with Lucas Oil Stadium, what makes anyone willing to believe that non-professional sports entities across the midwest are going to go to the expense of traveling to Anderson, Indiana to hold their tournaments and utilize the facilities ????
From the figures I've seen people of Anderson are being expected to subsidize the construction of this new facility with tax incentives and cash equalling 1 million dollars; of which about 275,000 will be paid back to the city over time once the facility becomes profitable.
Third, the city already has an under utilized sports facility, namely the Wigwam, and it is sucking upwards of 300k a year from the city coffers just in electricity usage. In addition, the city is closing schools, which are going to also stand empty and sucking city revenues to heat and maintain them, for no return. So where is the city coming up with the money to fund this new venture?
Fourth - Is a 1 million dollar investment of the taxpayers money really a prudent use of those funds, when they only create minimum wage jobs, and the investment is based upon the possibility of potential returns on teh investment when teams across the midwest begin to utilize it? In these depressed economic times does that sound like something that is very likely to happen?
No. . . I do not think so. What I think this is in reality, is a smoke and mirror campaign to dazzle the citizens of Anderson into believing something concrete was accomplished by the current administration in the final year of its term, in the hopes they'll vote them back into office for another term! Politics! :mad:
What I'd like to know is why nothing has been brought up about this until now. Why weren't we given a chance to give our opinions on it? Why hasn't there been a effort to bring real businesses to town instead of spending tax payer money on something that is going to probably be a waste and end up costing us instead. Kind of smacks of that little Emgee plant deal that Lawler left Smith stuck with.
Quote from: me on January 19, 2011, 08:16:39 PM
What I'd like to know is why nothing has been brought up about this until now. Why weren't we given a chance to give our opinions on it? Why hasn't there been a effort to bring real businesses to town instead of spending tax payer money on something that is going to probably be a waste and end up costing us instead. Kind of smacks of that little Emgee plant deal that Lawler left Smith stuck with.
Interesting that you compared the two, because someone who shall remain nameless, made about the exact same comparison to me just this morning! :yes:
Quote from: Palehorse on January 19, 2011, 08:26:52 PM
Interesting that you compared the two, because someone who shall remain nameless, made about the exact same comparison to me just this morning! :yes:
Ya, he pulled several little little dirty deals toward the end but that is the one that sticks out most in whats left of my mind.
Another potentially huge negative of this little deal is the fact that I am hearing the term "not for profit" related to its status, which mean that they will pay no property taxes. 80 acres of land removed from the revenue stream, along with the land for the Ivy Tech Facility at exit 22. . . Instead of adding to the revenue stream the current administration is removing potential revenue sources from the realm of possibility! Great! :rolleyes: :rolleyes: :rolleyes: Add that to the increasingly empty properties around town and it spells disaster. . . :mad: :mad: :mad:
Quote from: Palehorse on January 19, 2011, 10:37:35 PM
Another potentially huge negative of this little deal is the fact that I am hearing the term "not for profit" related to its status, which mean that they will pay no property taxes. 80 acres of land removed from the revenue stream, along with the land for the Ivy Tech Facility at exit 22. . . Instead of adding to the revenue stream the current administration is removing potential revenue sources from the realm of possibility! Great! :rolleyes: :rolleyes: :rolleyes: Add that to the increasingly empty properties around town and it spells disaster. . . :mad: :mad: :mad:
Sure would be interesting to find out who owns it. :icon_twisted:
Is any taxpayer monies going into this project? Either directly or indirectly?
If the facility is going to be NFP, and the owners are buying the property, I'm not certain whether there's anything the city can do to prevent the loss of property tax revenue outside of making certain all the NFP regulations are followed.
Being a NFP may be the only way the facility can exist because I suspect the facility won't be able to be self-sufficient without taxpayer aid - being an NFP is in reality taxpayer aid.
All in all, big whoop, I suspect this is another boondoggle for Anderson.
Anderson/Madison Co./Indiana appears to have a big 'L' on its collective forehead.
Quote from: Y on January 21, 2011, 01:39:13 PM
Is any taxpayer monies going into this project? Either directly or indirectly?
1 million dollars, of which only 275,000 is going to be paid back! :rant:
Well, that million dollar investment of our tax dollars is sure paying off now!
That tent they put up over there might just cover home plate, and if that's their idea of a ready to play facility by October of this year. . . Well. . .
They have had a bunch of very old heavy equipment parked over there for well over a month now, and in that time they have made a nice gravel spot at the road upon which to park it.
I'm betting the next storm front we have move through is going to pick that damned tent up and carry it across I 69, creating a huge traffic accident, for which the City will be sued!
:mad: :mad: :mad: :mad: :mad: :mad:
Build it and the will come and pay. My ass. The Farm and the Wigwam are sure winners. Suckers. :yes:
They are putting the taxpayers of this city on the hook for yet another flop! :yes:
Well, that "million dollar investment" of taxpayers money has now morphed into 6-7 million of our tax dollars; and when (not if) the Frm fails, taxpayers are on the hook for the whole thing!
This is NOTHING but bullshit! :mad: :mad: :mad: :mad:
Quote from: Palehorse on December 11, 2011, 07:45:47 PM
Well, that "million dollar investment" of taxpayers money has now morphed into 6-7 million of our tax dollars; and when (not if) the Farm fails, taxpayers are on the hook for the whole thing!
This is NOTHING but bullshit! :mad: :mad: :mad: :mad:
Anderson Indiana building a 6 to 7 Million Dollar Amateur ball park? Unbelievable. :eek: :spooked: :no:
Lets just hope Smith can pull the plug on it like he did that Emge deal.
Quote from: me on December 12, 2011, 02:19:42 AM
Lets just hope Smith can pull the plug on it like he did that Emge deal.
I doubt it. Star Financial just bought the bonds so it's a lock now. . . :mad: :mad: :mad:
So when this thing goes belly up, we are ont he hook for it all! :mad: :mad: :mad: :mad: :mad: :mad: :mad:
They can't even get the name straight. They are calling it "The Farm", and the signage that they have not posted yet, says "Indiana Prospects". . . :rolleyes: :rolleyes: :rolleyes:
Quote from: Palehorse on December 12, 2011, 09:23:13 PM
I doubt it. Star Financial just bought the bonds so it's a lock now. . . :mad: :mad: :mad:
So when this thing goes belly up, we are ont he hook for it all! :mad: :mad: :mad: :mad: :mad: :mad: :mad:
They can't even get the name straight. They are calling it "The Farm", and the signage that they have not posted yet, says "Indiana Prospects". . . :rolleyes: :rolleyes: :rolleyes:
Oh wonderful. Wonder if that means Erskin owned the land.
Quote from: Palehorse on December 12, 2011, 09:23:13 PM
I doubt it. Star Financial just bought the bonds so it's a lock now. . . :mad: :mad: :mad:
So when this thing goes belly up, we are ont he hook for it all! :mad: :mad: :mad: :mad: :mad: :mad: :mad:
They can't even get the name straight. They are calling it "The Farm", and the signage that they have not posted yet, says "Indiana Prospects". . . :rolleyes: :rolleyes: :rolleyes:
I just hope they can't hook Madison County into this mess. But they could get rid of the Wigam and help pay for it.
Quote from: The Troll on December 13, 2011, 06:44:15 PM
I just hope they can't hook Madison County into this mess. But they could get rid of the Wigam and help pay for it.
As far as I know, it's all on the City of Anderson's shoulders. :mad:
(I may have posted this already) I got a survey from the Eastern Ky University on the Wigwam. I filled it out and sent it back too! :yes:
Will you post the links to the current developments, please?
I smell corruption!
http://www.indianaeconomicdigest.net/main.asp?SectionID=31&SubSectionID=72&ArticleID=62990 (http://www.indianaeconomicdigest.net/main.asp?SectionID=31&SubSectionID=72&ArticleID=62990)
http://www.cityofanderson.com/news_view.aspx?id=434 (http://www.cityofanderson.com/news_view.aspx?id=434)
http://www.fredericksinc.com/public/documents/The-Farm_specifications.pdf (http://www.fredericksinc.com/public/documents/The-Farm_specifications.pdf)
This one "explains" the Indiana Prospects signage.
http://www.indianaprospects.org/ (http://www.indianaprospects.org/)
My question is, if they are "truly" partnering then how much are they putting up?
I say it's not actually "partnering" inasmuch as it is another group looking to jump on the payroll of the taxpayers of the city of Anderson!
Funny how they actually seem to have commandeered the naming of the facility as well!
Thanks, PH!
Still nothing going on with this. . . Is it dead?
Quote from: Palehorse on March 22, 2012, 01:15:46 PM
Still nothing going on with this. . . Is it dead?
I certainly hope so.
:biggrin: :biggrin: :biggrin:
http://heraldbulletin.com/local/x1560867983/Farm-project-hits-another-snag (http://heraldbulletin.com/local/x1560867983/Farm-project-hits-another-snag)
ANDERSON, Ind. — Construction on The Farm, a baseball and softball facility along Interstate 69, has hit another snag while city officials and project developers continue to negotiate acceptable financing terms.
Earlier this month, the Anderson Redevelopment Commission voted 4-0 to rescind its approval of a debt service reserve fund, which would be replenished with tax increment financing funds if needed.
"Effectively, the Redevelopment Commission under the new mayor rescinded that resolution, causing us to re-visit financing for the project," said Brad Benbow, an investor in The Farm. "The second thing that has happened that's an issue is that the city has refused to release funds from the bond anticipation note, which was already being drawn upon."
The project struggled to secure permanent financing last year when bond sales failed to materialize. Eventually, Star Financial Bank agreed to buy the bonds, but only with the added security of the reserve fund.
The city had already guaranteed $6 million in bonds, plus a $1.5 million contribution by investors, to finance the $7.5 million project, and approved a bond anticipatory note for up to $4 million, to help get construction started.
Anderson's financial package was intended to show Anderson's support for the athletic park, which includes a 105,000-square-foot indoor facility and 12 baseball and softball diamonds encompassing 72 acres.
The city and the bank were set to close on the bond sale late last year, when The Farm developers announced the group didn't want to pay its $1.5 million contribution at closing, but in three installments, with the first payment to occur at the end of this month and two others to occur at later, unspecified dates.
The request was akin to someone agreeing to buy a house with an agreed upon down payment, and then showing up at the closing only to say they didn't want to make the payment, said a source close to the negotiations.
"Everything was set to go," said Ann Marie Bauer, an attorney who represents the Redevelopment Commission. "The project came back and said 'we don't want to put our whole equity infusion at closing.' There was definitely surprise."
The Ockomon administration rejected The Farm's proposal and canceled the bond closing, effectively throwing responsibility for final approval of the plan into the hands of new Mayor Kevin Smith's administration.
New City Controller Sam Pellegrino said he reviewed the proposed terms of the bond sale, and is asking The Farm to agree to an additional list of requirements including loan covenants, personal guarantees from investors, financial capability statements and financial reporting requirements.
"My job, as I define it, is to look out for the best interests of the taxpayers and what liabilities we may inherit," said Smith. "Everything we're doing right is focused on protecting the taxpayers from a financial perspective."
Nobody is saying The Farm isn't a good project, said Greg Winkler, Anderson's interim economic development director,
"The city certainly wants The Farm LLC to succeed," he said. "The question is how we find a more equitable way to share the risk and the reward."
"THE FARM" is another WIGWAM. :doh: :yes:
WTF are YOU talking about?
The Farm could be an excellent opportunity for Anderson.....I am happy that the Mayor is slowing it down, to make sure the taxpayers are not going to get screwed....but, this is no comparison to the WigWam. The wigwam is USELESS.
I hope this "Farm" deal is a good one for Anderson, it can use more opportunities like this one to attract other business' there.
Quote from: Henry Hawk on March 29, 2012, 09:35:26 AM
WTF are YOU talking about?
The Farm could be an excellent opportunity for Anderson.....I am happy that the Mayor is slowing it down, to make sure the taxpayers are not going to get screwed....but, this is no comparison to the WigWam. The wigwam is USELESS.
I hope this "Farm" deal is a good one for Anderson, it can use more opportunities like this one to attract other business' there.
let's give it five years and the newness wears off and boredom set in and and they want more money, we will see how you squawk. :chick: You sure wouldn't see me stick any of my hard earned money in it, how about you, it's just tax money how. :wink: :smile:
Quote from: The Troll on March 29, 2012, 02:12:41 PM
let's give it five years and the newness wears off and boredom set in and and they want more money, we will see how you squawk. :chick: You sure wouldn't see me stick any of my hard earned money in it, how about you, it's just tax money how. :wink: :smile:
I bet you was all in favor of the horse track though, wasn't you?
Quote from: Henry Hawk on March 29, 2012, 02:13:44 PM
I bet you was all in favor of the horse track though, wasn't you?
Sure was, it sure has brought in a lot of money for the state so your bald governor can claim he cut taxes. I guess you were not for it. Have you ever been there, since you don't bet. As cheap as you are, you ought to try the cheap buffet they have there. A lot of church goer do and not gamble. :wink: :smile:
Spring has long past sprung, and yet the equipment sits where it was parked last year; what was once a field of beans and corn is now a field of weeds morphing toward a junkyard.
Quote from: Palehorse on May 22, 2012, 11:12:04 AM
Spring has long past sprung, and yet the equipment sits where it was parked last year; what was once a field of beans and corn is now a field of weeds morphing toward a junkyard.
Now is the time to kill it. :knife: Sell the land and forget about. :yes: It won't fly and it would have died. :dead: My town let some volunteers use some land at the water works, unused, for girl :gorgeous: softball. The people who built it and the girls seem to like it and it didn't cost the town a dime. :no:$$$$$$ :yes: :clap: :dance: :biggrin:
The weeds are getting larger, and now instead of a field full of corn and beans, it is a field full of ragweed and other allergen producers! :mad:
Quote from: Palehorse on May 30, 2012, 12:38:06 PM
The weeds are getting larger, and now instead of a field full of corn and beans, it is a field full of ragweed and other allergen producers! :mad:
Maybe better and smarter heads prevailed. :wink: :confused:
Quote from: The Troll on May 30, 2012, 01:43:24 PM
Maybe better and smarter heads prevailed. :wink: :confused:
they did, it is called Mayor Smith....he put the brakes on this, until everyone figures out WHO is going to pay for it.
Quote from: Henry Hawk on May 30, 2012, 01:46:07 PM
they did, it is called Mayor Smith....he put the brakes on this, until everyone figures out WHO is going to pay for it.
Henry are you going to throw some money in the pot for it? Maybe your kids can play there. :wink: :smile:
Quote from: The Troll on May 30, 2012, 07:05:04 PM
Henry are you going to throw some money in the pot for it? Maybe your kids can play there. :wink: :smile:
Probably not.... :wink:
Quote from: Henry Hawk on May 30, 2012, 07:46:47 PM
Probably not.... :wink:
:yes: :yes: :yes: :yes: :yes: How did I know? :grin2:
I happened to speak to Mayor Smith about this bill of goods deal the outgoing administration was forcing onto the taxpayers of the south end of Anderson; at length during his election campaign. (I worked for him at a fundraiser or two).
He was true to his word in telling me that if it was indeed as bad as I was telling him, he'd put a stop to it. It was. He did. And now unless the businessmen who were wanting the people of madison county to foot the lions share of the bill by throwing tax dollars at it for very little return pony up the dollars out of their own pocket, the deal is DOA!
what more can you ask for?
Just want some honest, common sense decisons to be made.
Why can't more politicians be that way?
Quote from: Henry Hawk on May 31, 2012, 07:57:50 AM
what more can you ask for?
Just want some honest, common sense decisons to be made.
Why can't more politicians be that way?
When is mayor Smith going to get rid of the White Elephant, the Wigwam. Talk about a hole were you throw taxpayer money in. :yes: :yes: :rolleyes:
Money in $$$$$$$$$$$$$$$$$$$, nothing out. :doh: :grin2:
Quote from: The Troll on May 31, 2012, 10:17:32 PM
When is mayor Smith going to get rid of the White Elephant, the Wigwam. Talk about a hole were you throw taxpayer money in. :yes: :yes: :rolleyes:
Money in $$$$$$$$$$$$$$$$$$$, nothing out. :doh: :grin2:
Good question, and one I will certainly ask him next time I see him. . .
But one white elephant at a time eh? :biggrin:
Quote from: Henry Hawk on May 30, 2012, 01:46:07 PM
they did, it is called Mayor Smith....he put the brakes on this, until everyone figures out WHO is going to pay for it.
Actually it was Mayor Ockomon.
http://heraldbulletin.com/business/x1560867983/Farm-project-hits-another-snag
March 26, 2012
Farm project hits another snag
Anderson seeks additional reporting requirements to protect taxpayer investment
By Stuart Hirsch The Herald Bulletin
ANDERSON, Ind. — Construction on The Farm, a baseball and softball facility along Interstate 69, has hit another snag while city officials and project developers continue to negotiate acceptable financing terms.
Earlier this month, the Anderson Redevelopment Commission voted 4-0 to rescind its approval of a debt service reserve fund, which would be replenished with tax increment financing funds if needed.
"Effectively, the Redevelopment Commission under the new mayor rescinded that resolution, causing us to re-visit financing for the project," said Brad Benbow, an investor in The Farm. "The second thing that has happened that's an issue is that the city has refused to release funds from the bond anticipation note, which was already being drawn upon."
The project struggled to secure permanent financing last year when bond sales failed to materialize. Eventually, Star Financial Bank agreed to buy the bonds, but only with the added security of the reserve fund.
The city had already guaranteed $6 million in bonds, plus a $1.5 million contribution by investors, to finance the $7.5 million project, and approved a bond anticipatory note for up to $4 million, to help get construction started.
Anderson's financial package was intended to show Anderson's support for the athletic park, which includes a 105,000-square-foot indoor facility and 12 baseball and softball diamonds encompassing 72 acres.
The city and the bank were set to close on the bond sale late last year, when The Farm developers announced the group didn't want to pay its $1.5 million contribution at closing, but in three installments, with the first payment to occur at the end of this month and two others to occur at later, unspecified dates.
The request was akin to someone agreeing to buy a house with an agreed upon down payment, and then showing up at the closing only to say they didn't want to make the payment, said a source close to the negotiations.
"Everything was set to go," said Ann Marie Bauer, an attorney who represents the Redevelopment Commission. "The project came back and said 'we don't want to put our whole equity infusion at closing.' There was definitely surprise."
The Ockomon administration rejected The Farm's proposal and canceled the bond closing, effectively throwing responsibility for final approval of the plan into the hands of new Mayor Kevin Smith's administration.
New City Controller Sam Pellegrino said he reviewed the proposed terms of the bond sale, and is asking The Farm to agree to an additional list of requirements including loan covenants, personal guarantees from investors, financial capability statements and financial reporting requirements.
"My job, as I define it, is to look out for the best interests of the taxpayers and what liabilities we may inherit," said Smith. "Everything we're doing right is focused on protecting the taxpayers from a financial perspective."
Nobody is saying The Farm isn't a good project, said Greg Winkler, Anderson's interim economic development director,
"The city certainly wants The Farm LLC to succeed," he said. "The question is how we find a more equitable way to share the risk and the reward."
Quote from: Y on June 24, 2012, 10:15:58 PM
Actually it was Mayor Ockomon.
http://heraldbulletin.com/business/x1560867983/Farm-project-hits-another-snag
March 26, 2012
Farm project hits another snag
Anderson seeks additional reporting requirements to protect taxpayer investment
By Stuart Hirsch The Herald Bulletin
ANDERSON, Ind. — Construction on The Farm, a baseball and softball facility along Interstate 69, has hit another snag while city officials and project developers continue to negotiate acceptable financing terms.
Earlier this month, the Anderson Redevelopment Commission voted 4-0 to rescind its approval of a debt service reserve fund, which would be replenished with tax increment financing funds if needed.
"Effectively, the Redevelopment Commission under the new mayor rescinded that resolution, causing us to re-visit financing for the project," said Brad Benbow, an investor in The Farm. "The second thing that has happened that's an issue is that the city has refused to release funds from the bond anticipation note, which was already being drawn upon."
The project struggled to secure permanent financing last year when bond sales failed to materialize. Eventually, Star Financial Bank agreed to buy the bonds, but only with the added security of the reserve fund.
The city had already guaranteed $6 million in bonds, plus a $1.5 million contribution by investors, to finance the $7.5 million project, and approved a bond anticipatory note for up to $4 million, to help get construction started.
Anderson's financial package was intended to show Anderson's support for the athletic park, which includes a 105,000-square-foot indoor facility and 12 baseball and softball diamonds encompassing 72 acres.
The city and the bank were set to close on the bond sale late last year, when The Farm developers announced the group didn't want to pay its $1.5 million contribution at closing, but in three installments, with the first payment to occur at the end of this month and two others to occur at later, unspecified dates.
The request was akin to someone agreeing to buy a house with an agreed upon down payment, and then showing up at the closing only to say they didn't want to make the payment, said a source close to the negotiations.
"Everything was set to go," said Ann Marie Bauer, an attorney who represents the Redevelopment Commission. "The project came back and said 'we don't want to put our whole equity infusion at closing.' There was definitely surprise."
The Ockomon administration rejected The Farm's proposal and canceled the bond closing, effectively throwing responsibility for final approval of the plan into the hands of new Mayor Kevin Smith's administration.
New City Controller Sam Pellegrino said he reviewed the proposed terms of the bond sale, and is asking The Farm to agree to an additional list of requirements including loan covenants, personal guarantees from investors, financial capability statements and financial reporting requirements.
"My job, as I define it, is to look out for the best interests of the taxpayers and what liabilities we may inherit," said Smith. "Everything we're doing right is focused on protecting the taxpayers from a financial perspective."
Nobody is saying The Farm isn't a good project, said Greg Winkler, Anderson's interim economic development director,
"The city certainly wants The Farm LLC to succeed," he said. "The question is how we find a more equitable way to share the risk and the reward."
Guess they didn't fork over the payola in time then eh?
Quote from: Palehorse on June 24, 2012, 10:22:01 PM
Guess they didn't fork over the payola in time then eh?
I think they thought they had Ockomon over a barrel and he would just roll over for them and they misjudged him. I think they were trying to take advantage of him and he shot them down. It wasn't anything they didn't deserve. I'm sick and tired of these companies, especially sports enterprises, expecting corporate friggin' welfare to 'bless' us with their presence so they can then rifle our pockets in another way. Pfui!!!