Posts Tagged ‘bonds’

TMC’s support of State Controller John Chiang’s Auditing Team started the morning off with protest signs facing incoming city workers. Protest involves the alleged fraud and misuse of Obama’s Federal Build America Bonds by the City of Riverside.  Whereby, bonds intended for one purpose or project, is diverted to other unrelated purposes. In the midst of taxpayer abuse as seen with California Cities such as Bell, Montebello and Hercules which have resulted in millions of dollars lost.  Local community residents have raised the questions of the sanctity of the city’s finances as well as their expenditures.  Concerns of increase power, water, sewer rates along with incidental service fees to get around proposition 218  to cover cost of mismanagement have been prevalent. Now with the City of Stockton, California on the brink of filing for bankruptcy, attention is high.  TMC request the auditing team to dig further.  “Seek and you will find”..  Join us in voicing your opinion in front of City Hall and at todays City Council Meetings, Afternoon session 3:00 pm and Evening session 6:30 pm.  According to the PE the auditing team will be in the City of Riverside for a two month routine evaluation, of one project, the Columbia Grade Seperation. TMC questions the length of time necessary for one project to be evaluated.

     

UPDATE: 03/07/2012:

At Tuesday’s City Council Meeting Chief of Police Sergio Diaz with Assistant Police Chief Chris Vicino presented the Police Departments Strategic Plan for 2010-2015 just prior to the display of unchiefly behavior everyone is talking about.  But wait a minute or two,  2010?  Wasn’t that two years ago.  Isn’t this just a little late in turning in this chiefly assignment? How do you retroact two years..?  So, shouldn’t it read 2012-2015?  Regardless here it is.

    

CLICK THIS LINK TO SEE THE COMPLETE ‘STRATEGIC PLAN FOR 2010-2015′ 

TMC, RATED RIVERSIDE’S MOST “SLANDEROUS” AND MEZZSPELLED, “MISSPELLED” AND “OPINIONATED” BLOG SITE!   TMC IS NOW EXCLUSIVELY ON FILE WITH THE COUNTY OF RIVERSIDE’S DISTRICT ATTORNEY’S OFFICE, AND PROSSIBLY POSSIBLY ON FILE WITH THE CITY OF RIVERSIDE’S POTENTIAL SLAPP SUIT LIST… WE WILL HAVE TO ASK GREG ABOUT THAT ONE… AGAIN, THANK-YOU COMMUNITY OF RIVERSIDE AND THE CITY OF RIVERSIDE EMPLOYEE’S FOR YOUR SUPPORT!  COMMENTS ALWAYS WELCOMED, ESPECIALLY SPELL CHECKERS!  EMAIL ANONYMOUSLY WITH YOUR DIRT OR FOR CONTACT!   THIRTYMILESCORRUPTION@HOTMAIL.COM 

A long habit of not thinking a thing is wrong gives it a superficial appearance of being right  –Thomas Paine

NEWS RELEASE: CALIFORNIA REDEVELOPMENT DEAD ON ARRIVAL?  THE CALIFORNIA REDEVELOPMENT ASSOCIATION AND LEAGUE OF CALIFORNIA CITIES HAVE SUED CALIFORNIA STATE CONTROLLER JOHN CHIANG AND THE DIRECTOR OF THE CALIFORNIA DEPARTMENT OF FINANCE ANA MATOSANTOS.  THE SUPREME COURT HAS MANDATED A STAY OR FREEZE ON ALL CITY REDEVELOPMENT, UNTIL THE ISSUE CAN BE RESOLVED APPROXIMATELY SIX MONTHS FROM NOW IN THE BEGINNING MONTHS OF 2012.  THIS MEANS THAT THE SUPREME COURT HAS MANDATED EXISTING REDEVELOPMENT AGENCIES FROM INCURRING NEW INDEBTNESS, TRANSFERRING ASSETS, ACQUIRING REAL PROPERTY, ENTERING INTO NEW PARTNERSHIPS, ADOPTING OR AMENDING REDEVELOPMENT PLANS ETC.,  AND ESPECIALLY THE FOLLOWING:  ENTERING INTO NEW CONTRACTS OR EVEN MODIFYING EXISTING CONTRACTS.  EVEN THE NEW ORDINANCE ADOPTED BY CITY COUNCIL THIS WEEK IS NOW DOA.

ON JUNE 29, 2011 GOVERNOR BROWN SUSPENDED ALL REDEVELOPMENT ACITIVITIES IN THE STATE OF CALIFORNIA, WHILE CRITICIZING THE AGENCIES FOR DRAINING TAX DOLLARS AWAY FROM SCHOOLS AND PUBLIC SAFETY AT A TIME WHEN REVENUES ARE RUNNING THIN.   THE STATE GAVE CITIES TWO OPTIONS TO THIS SUSPENSION,  AS A RESULT OF THE ABUSES OF REDEVELOPMENT, DISSOLVE IT OR CONTINUE IT.  IF YOU CHOOSE TO CONTINUE, THE PAPERWORK THE STATE EXPECTS CITIES TO FILL OUT, IS TEDIOUS, AND THIS HAS UPSET MOST CITY GOVERNMENTS AS OURS. THEREFORE, OUR CITY ISSUED AN ORDINANCE TO CONTINUE THE VOLUNTARY REDEVELOPMENT PROGRAM.  THIS CHOICE TO CONTINUE BECOMES AS THE STATE CALLS IT “ VOLUNTARY CHOICE”. THEREFORE ENTERING INTO THIS CONVENANT CITIES ENTER A MORE STRUCTURED PROGRAM TO FORCE THE CITY TO BECOME MORE RESPONSIBLE, THIS IS WHAT THE STATE’S VIEW THAT IT WILL MITIGATE ABUSE OF FUNDS. 

THIS IS WITH CONSIDERATION OF THE MERE FACT THAT THE CITY WILL HAVE TO PAY FOR BONDS JULY, 1, 2012, AND WE WILL NOT BE ABLE TO PAY FOR IS A FACT, AND EX-RIVERSIDE CITY MANAGER BRAD HUDSON IS RESPONSIBLE FOR THIS.  THE COMMUNITY OF RIVERSIDE WILL INADVERTANLY HAVE TO PAY FOR THIS THRU HIGHER UTILITIES SUCH AS ELECTRIC, WATER AND SEWER FEES.  IF YOU LOOK A OTHER CITIES, YOU WILL REALIZE WHAT 2 BILLION OF CONSTRUCTION REALLY LOOKS LIKE. REDEVELOPEMENT CRITICS SAY THAT, TOO OFTEN, THE MONEY BENEFITS PRIVATE BUSINESSES AND STEAMROLLS PROPERTY OWNERS.  ASSEMBLYMAN CHRIS NORBY, R-FULLERTON, SAID THE AGENCIES LONG AGO OUTLIVED THEIR USEFULNESS AND SHOULD BE SHUT DOWN, PARTICULARLY AS THE STATE CONFRONTS A $25.4 BILLION BUDGET GAP. BUT IN THEIR ARROGANCE, THE CITY OF RIVERSIDE DID NOT TAKE THIS SUSPENSION WELL, THEIR ENTITLEMENT WAS CLEAR, GOING AS FAR AS CALLING THE OBLIGATION PAYMENT  “RANSOM” AND A FORM OF “THEFT“.  AS INDICATED ON THEIR WEBSITE.  YOU WOULD THINK THAT THE CITY OF RIVERSIDE WOULD BE ON THE TEAM EFFORT AGAINST SUPPORTING SUCH WASTE, BUT ARROGANCE IS DEEP SEATED AND IRREVERSIBLE AS A MALIGNANT CANCER THAT IT HAS LED THEM TO SUE THE STATE.  THE STATE IS YOU THE TAXPAYER.  THE CALIFORNIA REDEVELOPMENT ASSOCIATION AND CALIFORNIA LEAGUE OF CITIES, OF WHICH MAYOR LOVERIDGE IS PART OF, ARE TAXPAYER FUNDED LOBBYING INTEREST GROUPS WHICH ARE SUING YOU (TAXPAYER) TO GET THEIR SPENDING MONEY.  IT’S AS IF YOU GIVE A CHILD AN ALLOWANCE, WHICH THEY KEEP SPENDING AN IN TURN, THEY KEEP COMING BACK TO YOU FOR MORE.  THE REAL SAD CONTRADICTION IS THAT YOU (TAXPAYER) ARE ALSO PAYING THE LITIGATION FEES TO SUE YOURSELF FOR MORE OF YOUR MONEY.   THE CALIFORNIA REDEVELOPMENT ASSOCIATION AND CALIFORNIA LEAGUE OF CITIES FUNDED A CAMPAIGN THAT ULTIMATELY STOPPED SERIOUS EMINENT DOMAIN REFORM IN CALIFORNIA, LEAVING PROPERTY OWNERS VUNERABLE TO SEIZURE IF CITIES FIND A BETTER USE FOR THEIR LAND OR BUSINESS. 

BUT HOW MUCH DEBT SERVICE ANNUALLY IS THE CITY OF RIVERSIDE PAYING ON RENAISSANCE PROJECTS?  IF $1.58 BILLION IS THE TOTAL FOR DOING ALL RENAISSANCE PROJECTS, WHAT’S THE TOTAL COST WITH INTEREST OVER THE LIFE OF ALL THE BORROWED MONEY?  IN OTHER WORDS, WHEN IT’S ALL PAID OFF, WHAT WILL THE TOTAL COST BE?   THIS WOULD THEREFORE BE A PROJECTION, BECAUSE BONDS COULD BE REFINANCED OR PAID OFF EARLY DEPENDING ON THE ECONOMY ETC.  WE MUST ALSO TAKE INTO CONSIDERATION WHAT THE LONGEST TERM OF BORROWING FOR THE RENAISSANCE PROJECTS, SUCH AS 30 YEARS ETC.

SO, TOTAL NEW MONEY BONDS ISSUED DURING THE PERIOD AMOUNT TO $1,084,051,402, INCLUDING NON-CONSTRUCTION PROCEEDS, AS INDICATED IN TABLE 1.   THE FOLLOWING IS A LIST OF OTHER FUNDING SOURCES IN THE RENAISSANCE: 

1. DEVELOPMENT IMPACT FEES.

2.USER FEES.

3. STATE, FEDERAL AND REGIONAL GRANTS.

4. LAND SALE PROCEEDS.

5. PRIVATE FUNDING- SUCH AS RAILROADS, DONATIONS ETC.

6. GENERAL FUND CASH.

7. RDA TAX INCREMENT.

8. CERTAIN OLDER RDA BOND PROCEEDS ALLOCATED TO RENAISSANCE.

9. CERTAIN MEASURE-G PROCEEDS ALLOCATED TO RENNAISSANCE.

10. FUTURE PLANNED RIVERSIDE CONVENTION CENTER BOND ISSUE.

THE ANNUAL DEBT SERVICE AMOUNT VARIES BUT TYPICALLY IS IN THE MID $60 MILLLION RANGE FOR 2012 AND EVEN 2013, AS INDICATED IN THIS TABLE 2.  IN YEAR 2014 THERE IS A BALLOON PAYMENT THAT WILL LIKELY BE REFINANCED.  IT IS WORTH MENTIONING THAT THE VAST MAJORITY OF THE DEBT IS UTILITY DEBT, WHICH THEY ROUTINELY CARRY AND WOULD HAVE REGARDLESS OF THE RENAISSANCE.  THE ACTUAL APPROXIMATE COST OVER THE LIFE OF DEBT WOULD HIT THE $2.0 BILLION MARK.  THEREFORE, BASED ON THE APPROXIMATE POPULATION COUNT IN THE CITY OF RIVERSIDE, EVERY MAN, WOMAN AND CHILD IN THE CITY WILL BE LEFT TO PAY FOR THE RIVERSIDE RENAISSANCE IN INCREASED SEWER, WATER, ELECTRIC, PARKING AND GENERAL FUND REPLACEMENT.  THE $2.0 BILLION BREAKDOWN IS AS FOLLOWS:  THE PRINICIPAL IS $1,084,051,402 AND THE INTEREST IS $979,022,581.  TODAY, THE COST TO EACH INDIVIDUAL WILL BE APPROXIMATELY $6,660.00, OR A FAMILY OF FOUR WILL HAVE TO PAY OUT $26,400.00. 

JOHN CHIANG, WHERE ART THOU? YOU CERTAINLY ARE NOT IN RIVERSIDE….

UPDATE:08/28/2011: OF COURSE, THE CITY OF RIVERSIDE AND THE CALIFORNIA REDEVELOPMENT ASSOCIATION, A TAXPAYER LOBBYING GROUP, WON’T TAKE NO FOR AN ANSWER ON THE SUPREME COURTS RULING OF PLACING A STAY ON ALL REDEVELOPMENT.  MOST HAVE SAID SINCE IT WAS LEGISLATED IN, IT CAN BE LEGISLATED OUT.  BUT THE CRA, WHO SUED THE STATE ON THE CITY’S BEHALF DID NOT LIKE THE RULING.  THE CRYSTAL CLEAR RULING PLACES A STAY ON ALL REDEVELOPMENT ACTIVITY UNTIL THE ISSUE CAN BE RESOLVED IN JANUARY 2012, THIS IS TO PREVENT FURTHER QUESTIONS OF FINANCIAL MOVEMENT.  BUT THE CRA HAS NOW ASKED THE SUPREME COURT FOR A CLARIFYING ORDER WHICH WOULD ALLOW LOCAL REDEVELOPMENT AGENCIES WHICH HAVE ADOPTED ORDINANCES TO THE NEW VOLUTARY STATE RULES, PAY THE ENFORCEMENT OBLIGATION PAYMENTS AND CONTINUE TO  DO LOCAL RDA BUSINESS AS USUAL.  BUT WHAT IS QUITE IRONIC IS THAT THE CRA AND THE CITY DID NOT LIKE THE VOLUNTEER PROGRAM TO BEGIN WITH, THAT’S WHY THEY ARE SUING.  SINCE SUING THE STATE PLACED A STAY ON ALL ACTIVITY, THE CRA AND THE CITY NOW WANT THE STATE TO NOW HONOR THE VOLUNTEER PROGRAM IN THE INTERIUM, THAT THEY ORIGINALLY SUED AGAINST.  GO FIGURE? 

KEEP CONNECTED WITH TMC, RATED RIVERSIDE’S MOST “SLANDEROUS”  BLOG SITE! NOW EXCLUSIVELY ON FILE WITH THE RIVERSIDE COUNTY DISTRICT ATTORNEY’S OFFICE… 

About a week after allegations of favoritism hit the City of Riverside, a breaking release by the PE are allegations of improprieties claimed by fired city employee Sean Gill with regard to how city contracts were handled.  It has also been alleged by other indivduals, that the city of Riverside has a close relationship with PE, to the extent of having a worthy opinion before a story is released, as in the case of Chief Russel Leach DUI.  Regardless the suite claims that city officials gave millions in contracts without the contracts going out to bid.  Again the city is denying this claim, but I’ll tell you, it sounding alot like that old bug a boo we’d like to keep under the matt, “Favoritism”.  OK I said it.    But what is quite intriguing and diabolical is that the Riverside City Council was quite aware of this activity with regard to contracts not going out for public bid, this “in an effort to increase their political allies”.   Wow, quite blatent.  None the less, it is shameful time in the City of Riverside, when the atmosphere of trust is non existent toward elected and appointed government officials, that this makes the community have to take another step back.   It is also quite coincidental that Sean Gill’s comment completely disappeared from the comment section of the PE’s article Riverside: City Officials Dispute Favoritism Claims.  Evidently Sean Gill’s comment was as follows, taken from the Five Before Midnight Blogspot:

The city fired me when I tried to make people aware of their corruption. Its been going on for years. Brad Hudson, Siobhan Foster and Tom Boyd all deserve to be fired for their corruption along with half of the city council. People think Bell is corrupt, I hope they keep digging into the City of Riverside. If Ed becomes mayor, wait and see how much more work his firm receives.

—Sean Gill, to Press Enterprise comments

Again, this leaves the City of Riverside scrambling at damage control with the usual response, this time from Supervising Deputy City Attorney Jeb Brown, “We think that the case doesn’t have any merit and we look forward to defending it”.  I’ll bet you do Jeb.  This after Deputy City Attorney Raychele Sterling stated in a email to City Council,  that several city employees told her they were directed to give work to specific firms by superiors.  According to Chief Finance Officer Paul Sundeen the city has retained an outside law firm to do an independent investigation.  An investigation upon themselves? Any guesses on what this independent investigation will cover? Any wagers?  Well, we all agree that mishandling of contracts without bids cost the taxpayer in benefits they expect, and the taxpayer shouldn’t have to be hit with the cost due to the incompetance and quite possibly, fraud, of these city officials.  Besides contracts, I’m also thinking how many law suites have been settled out of court by the City of Riverside in order to cirmcumvent the limelight, but at what cost?  This is another investigation we need to dig into.  But again, we invite to hear from any elected or appointed official, the city of riverside’s side of the story.  We encourage you to comment.

UPDATE: FRIDAY MAY 20, 2011:  RIVERSIDE DEPUTY CITY ATTORNEY RAYCHELE STERLING FIRED!  The reason why the community of Riverside have become complacent to city news, is the type of third world politics displayed by elected and appointed officials within the walls of  City Hall.  Again, the city fires another employee in what appears for no other reason but doing the right thing.  But interesting enough, the City Hall offers her 6 months of paid administrative, yes, 6 months, to go away find another job and probably just be quiet.  You’ll never see this type of offer in the private sector.  But again the city is at a loss of words, especially when the taxpayer should be informed.  In the name of accountability and transparency we receive such responses  as,  “She was an at-will employee sitting at the pleasure of the city attorney, and … I determined that the termination of that agreement was in the best interests of the city”, as stated by City Attorney Greg Priamos.  But no firm reason as to the termination, and we may never know.   Possibly, if you have something on the city, you may receive one of Greg Priamo’s Iron Fisted Gag Orders, which is probably like having your mouth sutured before they place the duck tape on.  Greg, How much is this law suit going to cost the taxpayer?  Will you hire, contract or request assistance from Best, Best & Krieger and possibly good ol Ex Riverside County District Attorney Grover C. Trask?   …And since we do so much business with B,B&K is there any validity to the rumor that they may be taking one of the floors at City Hall?  …And Brad, How much is your ongoing investigation on yourself going to cost the taxpayer?  Not to mention, the cost of institutional memory ?  Hudson has requested an outside investigation to the allegations of favoritism of himself, so he hired Rancho Cucamonga-based law firm Cihigoyenetche Grossberg Clouse to do the investigation which ultimately may take a month.  But it gets stranger, one of the partners of the law firm Brad Hudson retained to investigate the email claims, is also a motivational speaker who specializes in magic,  and is the author of three critically acclaimed and bestselling books, “The Vitruvian Square: A Handbook of Divination Discoveries,” “The Masks of Tarot,” and “Bauta: Betraying the Face of Illusion,” in addition to his oracle/divination cards, “The Deck of Shadows.” This partner specializes in magic, thought-reading, and divination (Tarot, oracle cards, palmistry, astrology, and numerology).  I guess my question to the City of Riverside is, does this get paid through the taxpayer or the other side.  But this may be a good thing in Brad’s world, Cihigoyenetche Grossberg Clouse may be just the thing to take this investigation that one step beyond.

UPDATE:05/13/2012:  PRESS ENTERPRISE ENDORSES FORMER COUNCILMANL ED ADKISON, REGARDLESS OF THE ALLEGATIONS OF CONTRACT TIES WITH THE CITY AND ALLEGATION OF MISTREATMENT OF CITY EMPLOYEES.  MUCH OF THE RELATIVE FINANCIAL REPERCUSSIONS THE CITY OF RIVERSIDE IS EXPERIENCING CAN BE DIRECTLY RELATED TO THE DECISIONS MADE BY FORMER CITY COUNCILMAN ED ADKISON DURING THE YEARS OF 2000 TO 2007.