More Money Pissed Away
More from Shortshanks (and even earlier), but are Rahm and his people rectifying this?
- Over the past 99 years, the Metropolitan Water Reclamation District of Greater Chicago has leased nearly 12 acres it owns along the Stevenson Expressway to a string of tenants, never getting more than $3,450 a year for the land.
When the lease expired Sept. 30, the sewage-treatment agency decided to see if it could get more money leasing the land, which hadn’t been on the market since 1915 — when President Woodrow Wilson was trying to keep the United States from entering World War I.
The agency sought bids for the property at 3301 S. California, aiming to get at least $601,000 a year — nearly double the $309,925 it collected in rent on the land over the past 99 years.
The two bids so far?
- Ameropan Oil Corp., which has been operating an asphalt plant on the property since 1988, offered to pay $607,010 a year to continue leasing the land for another 39 years. That would come to about 175 times more than the company had ever paid the water reclamation district in a single year.
Gardner-Gibson Inc., another Florida asphalt company, offered to pay $776,000 a year, or about $30 million over the course of a 39-year lease — about 28 percent more than Ameropan. That would have amounted to $175,000 a year more than agency officials said they’d hoped to get.
Of course, the city chose the lesser bid, triggering a federal lawsuit, so it'll all be tied up in court for a while yet. But journalists would have years worth of material just dissecting instances like this and rigged bids and crooked contracts.
Labels: money questions
posted by SCC at 12:01 AM
11 Comments:
A THIRTY-NINE YEAR lease?
39 YEARS??
So, it goes for market rate for the next three to five years and becomes a greater and greater bargain as each subsequent year passes, amount to a mere PITTANCE in years 25 through 39.
How about a ten year lease? If they want it so badly, they'll pony up again for years eleven through twenty.
What moronic idiot is allowing this?
Then some "Community Activist" (who hasn't been paid off) will come along and say the plants contribute to pollution and some kids might get asthma being so close to work. Or should I say the works. They will hold some rallies, block some trucks and hold up signs for the TV cameras. Some pro bono lawyers will file some suits.
THEN Rahm will announce that he has heard the people order the plants to close and ship the jobs out.
Rahm will then order a multi-million dollar no-bid contract for Daley-Vanecko Environmental Clean-up to remove all toxic materials from the asphalt plants.
After that Rahm will announce that a new park will be built on the former asphalt site and name it after some dead Demo-Communist and more millions to Daley-Vanecko to build another park.
More manufacturing jobs gone, city income lost, money pissed away on more parks we don't need while the city bleeds from violence and burns.
It's like we have read this script before.
I am sure the parties thrown by Asphalt Company for the managers of the Metropolitan Water Reclamation District of Greater Chicago attended over the years were EPIC. Lots of good times.
You act like the extra $175,000.00 was your own money.
/sarc
Patrick Daley Thompson's name is on the list voting for this arrangement....stay tune more to come.
Maybe the Water Reclamation' s police department can investigate this and turn the results over to Lisa Madigan for prosecution?
I know. I know. I'll report to the Random Drug Testing Unit, 3510 S. Michigan Avenue.
You can't stop it. It has been ingrained into the political culture of the city and county for well over a century.
Wonder how many cashed filled Manila envelopes were past to the elected? Another fraud perpetrated on the taxpayers, hey rahms if you sold this property you could use the money to fund your obligations to the pension fund due by December 2015! More money found treasure hunter rahm!
As on the mad money show the investment crazy man Kramer says "it's only your money" they have been misappropriated our money so much, stolen what billions-trillions? This is ridiculous, insanely addictive theft.
39 years? That's better than some of the contracts the city "negotiated" for rights-of-ways for telephone companies.
"In perpetuity" (FOREVER) is what some contracts read. Not bad - try to calculate THAT loss in revenue.
Real money given away but no money pensions, again and again the money is obviously there but rahm and his minions choose not to pay bills that are due! Think about it, 550 million lots of money to a multi-billion dollar entity? And this waste here, the horrific bike lanes that cause major traffic disruptions, the DePaul stadium, the tif piggy bank, the river walk, the Daley park, the park grill that Daley pal owns that taxpayers pay the tax and all bills for while omalley the owners make overwhelming profit, how much more? The mayor and city council just gave 5.5 million away to thugs on the John Burge lies then applauded them as they flushed more possible pension payments down the toilet! Bottom line you have to pay your bills due before you buy more things correct elected?
Btw where is dean hiding, dies he ever speak up? That silent man says he's negotiating our pensions better not dean better not give anything away!
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