Wednesday, August 17, 2016

"MACHINERY ROW IS OFFICIALLY DEAD!"

From Racine Community Media:

"MACHINERY ROW IS OFFICIALLY DEAD! MORE THAN $20 MILLION DOLLARS IN TAXPAYER LOANS AND GRANTS GO MISSING AS THE PROPOSED DEVELOPMENT FAILS BEFORE EVER STARTING, ALL AT RACINE TAXPAYERS EXPENSE."

"RACINE- As the failure of Machinery Row will soon be officially announced, a few select aldermen and city officials are already aware and discussing the next move in the failed development, while most elected officials have no idea what’s going on or how much has been spent to date. It’s being reported that the mayor is discussing utilizing a federal DNR grant to pay for the back taxes on the buildings purchased by the City Of Racine for the troubled millionaire developer Rodney Blackwell. Blackwell has failed to repay on his original loan of $4.5 million dollars given to him by The City Of Racine, while Racine taxpayers continue to repay his principal loan payments and interest payments for the second straight year!

"It now appears the Mayor and city officials will put the residents at continued risk by approving even more loan extensions and freebies to the millionaire developer, and It also means the scope of the $65 million dollar taxpayer funded project will now be changing to a possible indoor fishery and trout farm. 


"Stay tuned for more updates as soon as elected officials feel the community should be privileged enough to know where and how their taxpayer dollars are being spent."


http://journaltimes.com/business/local/no-action-on-machinery-row/article_bfaacc4e-3fe7-5dbc-8bfc-bb987ff9130a.html

https://newsthejtcantuse.wordpress.com

Read more: http://racinecommunitymedia.tumblr.com/search/MACHINERY+ROW+IS+OFFICIALLY+DEAD

1 comment:

TSE said...

Long rest in peace.

Perhaps the busy Wisconsin Attorney General could find some time to investigate Racine’s Machinery Row along with Monte Osterman’s Root River Council and discover where all the taxpayer money has disappeared to, leaving Residents with only the bills due, another property tax or fee increase, and yet another failing TIF.