. . . But 13 Investigates has learned the IEDC skipped an important step – and forgot to mention some important details – before announcing it had awarded the economic incentives deal: the IEDC Board of Directors has not yet reviewed or approved the money . . .
. . . a week after the Subaru incentives were announced in an IEDC news release, the agency admits it has not sent the $7.9 million incentive package to the board for a vote -- and that probably won't happen for several more months.
"No, the board has not approved it yet. We hope that will happen at the board's next meeting in December," said IEDC executive vice president Chris Cotterill. He told WTHR it is not unusual for the IEDC to publicly announce it has offered incentives to a company before the board takes formal action.
"More often than not, companies make an announcement after the board has given approval. But it can happen the other way, too," Cotterill explained.
"By saying the subsides have been ‘offered,' IEDC staff is speaking for a board action that has not yet been voted. That suggests the board is rubber-stamping the staff's work and begs the issue of the board's actual oversight and authority, said Greg LeRoy, director of Good Jobs First, a non-partisan policy resource center that promotes government accountability in economic development. "It's ironic that privatized state development agencies like IEDC are touted for being more ‘nimble' than public offices, yet it has no board mechanism for voting on major deals outside its quarterly calendar. That's the opposite of nimble."So Segal is shocked, shocked to learn the IEDC board is just a rubber stamp for the governor? Please. This investigative reporter hasn't said a word about Mayor Greg Ballard illegally entering into a 15-year agreement with Blue Indy that involved the theft of tens of millions of dollars in public assets, including a $6 million subsidy to the French-owned company that Ballard included in the City's agreement awarding the company the right to operate a monopoly electric car sharing business. Ballard broke multiple state and local laws and obligated the City to give the company $6 million before the Board of Public Works, let alone the City-County Council, had given its blessing to the deal. The mayor also announces incentive packages at big press events before the Metropolitan Development Commission has given its approval to them. It's the way business has been conducted for years on these matters, Bob. There's so many cases of real corruption taking place in this state and city. Why do you have to manufacture controversies, Bob?