Sorry folks, we should have read the fine print.
New Albany Redevelopment Authority Legal Ad May. 7, 2006
"Notice of Public Hearing"
New Albany Redevelopment Bonds of 2006-$15,000,000.
"payable from City Edit Pledge, County Pledge and Caesar's Foundation Grant proceeds, and to the extent the City Edit Pledge, County Pledge and Caesar's Foundation Grant proceeds are "not sufficient", from the Edit Revenues (as defined in the ordinance)
So-this could mean that we pay unlimited Edit Funds and special property tax for the Scribner Project.
$15,000,000 ("Bonds") to be used for the purpose of providing funds for the construction of an approximately 30,252 square foot natatorium, parking lot, and percentage of first and second floor lockers, and an atrium, as a tenant in common with the YMCA in, serving or benefiting the Main Center Redevlopment Area (Scribner Place) in the City, and to pay certain cost associated with the issuance of the bonds.
City's Commitment
* EDIT revenues of $400,000 in 2005 and 2006, increasing to $700,000 annually from 2007 through 2022.
Freedom Of Speech would like to say to you Mayor James Garner Sr:
You Sir, are raping and robbing the taxpayers of New Albany. And you Mr. Mayor might win the "battle" for Scribner Place "But you will NOT win the War."
You will finally hear all the voices and see the will of all the people on Election Day 07!
