tag:blogger.com,1999:blog-12703782.post2692613226203483367..comments2024-03-25T13:42:25.771-05:00Comments on Advance Indianaâ„¢: Indianapolis Taxpayers Paying $1.5 Million To Losing Criminal Justice Center BiddersGary R. Welshhttp://www.blogger.com/profile/15185079937305083438noreply@blogger.comBlogger16125tag:blogger.com,1999:blog-12703782.post-71435067143082972312014-12-29T20:24:28.010-05:002014-12-29T20:24:28.010-05:00I don't understand why strings are being pulle...I don't understand why strings are being pulled to go the P3 route. Is it a hedge fund / financier type who will effectively act as the "middle man" on this project - who has our leaders in his back pocket? Or is it part of the effort to avoid a referendum? All the usual downtown mafia types lose some level of control by putting this P3 middle man first in line. If the City pursued this project in a traditional design-bid-build format, the politicos would get to directly pick their favorites to do all the work (bonds, legal, architecture, engineering, construction management, equipment and furnishings, facility management, etc). That's a lot of money that could have been leveraged for political gain! Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-12703782.post-27609381345489776742014-12-29T19:52:00.051-05:002014-12-29T19:52:00.051-05:00Great, so the bonds are not tax free munis. The ta...Great, so the bonds are not tax free munis. The taxpayers seem to get screwed around every corner with this project. <br /><br />Where can I find the procurement documents you mention? I'll keep an open mind when reading but in my years of experience in this industry I think P3 and design-build are stupid ways to procure this kind of project. <br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-12703782.post-39289371556389731862014-12-29T11:09:26.412-05:002014-12-29T11:09:26.412-05:00The stipend payment would appear to engage competi...The stipend payment would appear to engage competitive bidders in specification development. This would also be subcontracting the scope of a known to be "needed" project which might also silence any criticism from knowledgeable competitors.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-12703782.post-55533438016381507562014-12-28T22:57:27.302-05:002014-12-28T22:57:27.302-05:00This is totally unprecedented in this state's ...This is totally unprecedented in this state's history. I challenge anyone to identify a procurement process for a public works project where a governmental entity laid $15 million on the line just to pick a winning bidder, all of which will be washed down the drain if the fiscal body refuses to accept the deal handed to it for approval. If this is legal, then it proves how weak our laws are, particularly after all the BS we were told about how great those property tax reforms were. This is one of the largest public works projects in the city's history and it won't even be subject to a referendum process. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-12703782.post-11956245273268577662014-12-28T22:45:11.069-05:002014-12-28T22:45:11.069-05:00No bonds are being issued. A private placement off...No bonds are being issued. A private placement offering is being administered by the Bank of Nova Scotia and Barclays to raise the money. We don't know the identity of the investors who have already been lined up or the amount of interest that is being paid on the senior secured notes. Gary R. Welshhttps://www.blogger.com/profile/15185079937305083438noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-34400277266549987412014-12-28T22:25:48.698-05:002014-12-28T22:25:48.698-05:00Stipend payments to losing bidders/teams are actua...Stipend payments to losing bidders/teams are actually common in large P3 and design-build projects around the country. INDOT has used them on many projects. The reason for it is because typically some level of design, say 25-30%, has to be done by architects and engineers on each team in order for contractors to estimate construction costs. Plus financing, building management, and legal services for P3 and you've got a heck of a lot of professional services required just to submit a bid and have a chance at a project. The intent is to cover bare bones costs of the losing bidders, but not so that they make any profit. Without these payments there's way too much cost to prepare a legitimate bid, therefore too much risk, and you'd see most respectable firms walk away from the opportunity.<br /><br />750k per team is more than I've ever heard of in the midwest. Plus there was a team of (well connected firms) who already started the first leg of design, legal, etc for 10M, which really makes me think 750k is way too generous. <br /><br />Does anyone know if the bonds for this project are somehow being run through the city so the financing can be tax-free? Municipal bonds would carry a much lower interest rate because they are (a) backed by a city with a great credit rating (believe it or not), and (b) they are tax free. The interest is something we taxpayers will have to cover - so if we're going to do this project we should at least ditch the P3 arrangement and keep the savings by issuing the bonds ourselves. <br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-12703782.post-69561436022693779672014-12-28T22:23:43.018-05:002014-12-28T22:23:43.018-05:00Anon 2:24 & 7:16, what do you mean this is a &...Anon 2:24 & 7:16, what do you mean this is a "done deal"? <br /><br />Can any of the lawyers out there please tell me if there are legal options available to us lowly taxpayers out here to stop this project? <br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-12703782.post-30763171036582106352014-12-28T11:18:35.429-05:002014-12-28T11:18:35.429-05:00Don't forget Ballard is paying Hogsett's l...Don't forget Ballard is paying Hogsett's law firm $750,000 to "sell" the council on this deal. It's no skin off those partners' back. The taxpayers are footing the bill to enrich the Hogsett household before he takes over the mayor's office and continues this sad legacy of corruption. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-12703782.post-9726563617578058052014-12-28T09:24:18.861-05:002014-12-28T09:24:18.861-05:00Is it true Joe Hogsett will earn $1 million for hi...Is it true Joe Hogsett will earn $1 million for his 15-month stint at Bose McKinney & Evans where he is not required to bill any hours? Why would a law firm's partners allow so much money be paid to a partner with no minimum billing requirements so he can devote his time and energy running for mayor in a race the Republicans have already decided to forfeit? Just what do they expect in return when he becomes mayor? Ponder it all. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-12703782.post-86960193355770505872014-12-28T08:50:31.332-05:002014-12-28T08:50:31.332-05:00The Stipend Payment to the Losing Bidder is intere...The Stipend Payment to the Losing Bidder is interesting. I have been in the Financial Industry since 1975 and never heard of a losing bidder being awarded a Stipend. Think of it this way: You decide to shop your Homeowners and Personal Auto Insurance to a couple of Agents and several companies. You make your choice. The losing Agent and companies do not receive a Stipend or Payment from you. The same procedure is followed if you want a quote on your Commercial or Business Insurance. <br /><br />So the interesting aspect is this now SOP for bidding on a construction project?? The losing bidder is now allowed to recoup their costs of bidding?? Who established the Amount of this Stipend?? <br /><br />As I have said before I would be shocked if the Democrats some how block this scheme. There are a lot of tentacles here. Perhaps some Democrats may be given permission slips to trumpet their opposition. Smoking Joe Hogsett has been very silent on this issue. Silence is a statement. Floggerhttps://www.blogger.com/profile/10383015097067413086noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-35197526270789104922014-12-27T22:49:02.889-05:002014-12-27T22:49:02.889-05:00224: Facts bring Grand Jury's and truth and ju...224: Facts bring Grand Jury's and truth and justice. It will never be too late with statutes... Sleep well all.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-12703782.post-78173458644246432072014-12-27T19:16:48.512-05:002014-12-27T19:16:48.512-05:00So what if it's a "done deal"?
Thr...So what if it's a "done deal"? <br /><br />Through his blog, Welsh documents how that SOB fat bastard Ballard is a total tool of greedy attorneys and financial house paper traders- not just in this foolish Criminal Justice deal but in ALL the asinine deals Ballard jumped in to after being whined and dined on his multiple world tours snd whispered sweet nothings by the entourage of connected sycophants who trailed along. Most important, Welsh documents how local establishment RINO crony capitalist Republicans AND smarmy self-interested Democrats (but I repeat myself) will root for any deal they can carve a piece out of for themselves. But it's "about downtown" or "it's about public safety" or it's about "fill in the meaningless emotion-driven slogan of the day".<br /><br />I remember our loser mayor telling at least one local news media newsreader about that stunningly screwed up east side soccer field for Ersal, after being questioned how little Indy residents seem to care let alone know about soccer, and Greg says something like it's his job to educate people how important and beloved soccer is. Makes about as much sense as "Everyone wanted the ROC at Eastgate that's why I wanted it at Eastgate."<br /><br />How this jerk made it to the Marines and Bayer is beyond all rational thought. Yes, it is true, no one right now wants to know the facts. At least Welsh is placing truth to power for the record.<br /><br /><br /><br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-12703782.post-15757833174919430192014-12-27T16:37:39.315-05:002014-12-27T16:37:39.315-05:00Ballard loves to burn $100 billsBallard loves to burn $100 billsAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-12703782.post-30649348965870236252014-12-27T15:30:47.891-05:002014-12-27T15:30:47.891-05:00Yep just like the scummy Water Company deal! The g...Yep just like the scummy Water Company deal! The guy is a POS.<br />We're all stuck with higher water and sewer rates (Which are not tax deductible on Schedule A of your 1040. Instead it is just to cover debt payments. 3P's are never in the best interest of a taxpayer.<br /><br />Sort of like comparing a Mutual Insurance Company to a Stock Insurance...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-12703782.post-75877452072766681162014-12-27T14:24:09.449-05:002014-12-27T14:24:09.449-05:00You're wasting your time. This is a done deal....You're wasting your time. This is a done deal. Nobody wants to know the facts. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-12703782.post-25174555883665997342014-12-27T12:34:33.358-05:002014-12-27T12:34:33.358-05:00Another fact-filled report about the uber-corrupt ...Another fact-filled report about the uber-corrupt Ballard Administration that Marion County residents will never see in the local Gannett rag.<br /><br />Ballard proved for the duration of his accidental mayorship to be to Marion County what Barak Obama is to the United States- an accomplished liar skillful in deception and delay tactics to avoid blatant fact and truth. To be completely fair, the old guy who has been reputedly forced to retire from both the Marines and from a position at Bayer under less than pure circumstances could be just plain dumber than dirt (apologies to dirt)- but I believe it is more of a "bought and paid for" than merely being stupidly moronic.<br /><br />Similar to "If you like your plan and your doctor, you can keep your plan and your doctor, PERIOD," the criminally stupid Indianapolis mayor wants taxpayers to believe a very expensive new Criminal Justice system constructed by obviously favored out of town contractors will cost less (!) and save money (!) over what is currently in place. (Remember... Obamacare was to cover millions more Americans with added services and bennies and still save taxpayers $2,500 annually by reducing the deficit. That's worked out quite well... and we have more of the same with just about every POS deal our bloated ex-soldier passes off as a boon to Indy taxpayers.<br /><br />It stretches belief that many Democrat City Councilors and Indy "elites" champion this boondoggle for the special interests insofar as this overt conversion of tax dollars has been peddled. but then again, Democrats are just as guilty of lying and stealing from the taxpayers as has the ignominious Greg Ballard.<br /><br /><br /><br /><br /><br />Anonymousnoreply@blogger.com