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"The Farm"

Started by Palehorse, January 19, 2011, 08:03:40 PM

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me

#15
December 13, 2011, 03:09:31 AM
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.
Trump 2020

The Troll

#16
December 13, 2011, 06:44:15 PM
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.

Palehorse

#17
December 13, 2011, 09:05:39 PM
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:
R.I.P. - followsthewolf - You are MISSED! 4/17/2013

That which fails to kill me. . .should run!

Any "point" made by one that lacks credibility, is only as useful as toilet paper; and serves the same purpose. ~ Palehorse 4/22/2017

May you find charity when it is needed, and the ability to extend it when it is not. ~Palehorse 7/4/2012

To the last, I grapple with thee; From Hell's heart, I stab at thee; For hate's sake, I spit my last breath at thee.~Herman Melville

Y

#18
December 14, 2011, 01:21:30 PM
Will you post the links to the current developments, please?

I smell corruption!
©  Whamma-Jamma - all rights reserved

Law of Logical Argument - Anything is possible if you don't know what you are talking about.  ;)

"You've probably noticed that opinion pollsters go out of their way to include as many morons as possible in surveys ... I think it's dangerous to inform morons about what their fellow morons are thinking. It only reinforces their opinions. And the one thing worse than a moron with an opinion is lots of them." -- Scott Adams

In other words: Never underestimate the power of stupid people in large groups.  ;)

"It is difficult to get a man to understand something when his salary depends upon his not understanding it." -- Upton Sinclair

"Hitler is gone, but if the majority of our fellow citizens are more susceptible to the slogans of fear and race hatred than to those of peaceful accommodation and mutual respect among human beings, our political liberties remain at the mercy of any eloquent and unscrupulous demagogue." -- S. I. Hayakawa

Palehorse

#19
December 14, 2011, 09:19:32 PM
R.I.P. - followsthewolf - You are MISSED! 4/17/2013

That which fails to kill me. . .should run!

Any "point" made by one that lacks credibility, is only as useful as toilet paper; and serves the same purpose. ~ Palehorse 4/22/2017

May you find charity when it is needed, and the ability to extend it when it is not. ~Palehorse 7/4/2012

To the last, I grapple with thee; From Hell's heart, I stab at thee; For hate's sake, I spit my last breath at thee.~Herman Melville

Palehorse

#20
December 14, 2011, 09:27:29 PM
This one "explains" the Indiana Prospects signage.

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!
R.I.P. - followsthewolf - You are MISSED! 4/17/2013

That which fails to kill me. . .should run!

Any "point" made by one that lacks credibility, is only as useful as toilet paper; and serves the same purpose. ~ Palehorse 4/22/2017

May you find charity when it is needed, and the ability to extend it when it is not. ~Palehorse 7/4/2012

To the last, I grapple with thee; From Hell's heart, I stab at thee; For hate's sake, I spit my last breath at thee.~Herman Melville

Y

#21
January 04, 2012, 08:39:12 PM
Thanks, PH! 
©  Whamma-Jamma - all rights reserved

Law of Logical Argument - Anything is possible if you don't know what you are talking about.  ;)

"You've probably noticed that opinion pollsters go out of their way to include as many morons as possible in surveys ... I think it's dangerous to inform morons about what their fellow morons are thinking. It only reinforces their opinions. And the one thing worse than a moron with an opinion is lots of them." -- Scott Adams

In other words: Never underestimate the power of stupid people in large groups.  ;)

"It is difficult to get a man to understand something when his salary depends upon his not understanding it." -- Upton Sinclair

"Hitler is gone, but if the majority of our fellow citizens are more susceptible to the slogans of fear and race hatred than to those of peaceful accommodation and mutual respect among human beings, our political liberties remain at the mercy of any eloquent and unscrupulous demagogue." -- S. I. Hayakawa

Palehorse

#22
March 22, 2012, 01:15:46 PM
Still nothing going on with this. . . Is it dead?
R.I.P. - followsthewolf - You are MISSED! 4/17/2013

That which fails to kill me. . .should run!

Any "point" made by one that lacks credibility, is only as useful as toilet paper; and serves the same purpose. ~ Palehorse 4/22/2017

May you find charity when it is needed, and the ability to extend it when it is not. ~Palehorse 7/4/2012

To the last, I grapple with thee; From Hell's heart, I stab at thee; For hate's sake, I spit my last breath at thee.~Herman Melville

me

#23
March 22, 2012, 01:46:43 PM
Quote from: Palehorse on March 22, 2012, 01:15:46 PM
Still nothing going on with this. . . Is it dead?
I certainly hope so.
Trump 2020

Palehorse

#24
March 28, 2012, 03:53:56 PM
 :biggrin: :biggrin: :biggrin:

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."
R.I.P. - followsthewolf - You are MISSED! 4/17/2013

That which fails to kill me. . .should run!

Any "point" made by one that lacks credibility, is only as useful as toilet paper; and serves the same purpose. ~ Palehorse 4/22/2017

May you find charity when it is needed, and the ability to extend it when it is not. ~Palehorse 7/4/2012

To the last, I grapple with thee; From Hell's heart, I stab at thee; For hate's sake, I spit my last breath at thee.~Herman Melville

The Troll

#25
March 29, 2012, 08:28:08 AM


  "THE FARM" is another WIGWAM.  :doh:   :yes:

Henry Hawk

#26
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.
"The heart of the wise inclines to the right, but the heart of the fool to the left."
Ecclesiastes 10:2 - It all makes sense to me now...


"The future ain't what it used to be."– Yogi Berra

"Square roots are rarely found on any plant." FTW

The Troll

#27
March 29, 2012, 02:12:41 PM
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:

Henry Hawk

#28
March 29, 2012, 02:13:44 PM
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?
"The heart of the wise inclines to the right, but the heart of the fool to the left."
Ecclesiastes 10:2 - It all makes sense to me now...


"The future ain't what it used to be."– Yogi Berra

"Square roots are rarely found on any plant." FTW

The Troll

#29
March 29, 2012, 08:52:07 PM
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:
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