Friday, April 16, 2010

I'll be out of town for the weekend...

...but I'm betting this Mark Greenblatt/KHOU report is going to have some legs

(Did Metro try to deceive Feds to get $900 Million? Mark Greenblatt, KHOU)
“You've overestimated by billions on sales tax … from 2010 on. Billions,” he told Metro’s board. “Between 2010 to 2012 you're off $300 million just in the 3 years.”

Then Metro Board Chairman David Wolff rebuffed it all in his response.

“I doubt that's the case,” Wolff said. “We've gone over these numbers carefully. We've adjusted them. We met just yesterday to review them.”

Go read (and watch) the entire story. It paints a sobering picture as to the former (Metro) board of director's honesty when filling out the financial application.

What you can expect now is for rail backers to claim there's nothing to see here and rail opponents to claim this is the worst case of financial malfeasance since Enron. Those arguments make for good sound bytes, but they don't address the fact that, if Metro can't afford the project, a sales tax increase will be in the regions' future.
Progressives don't like sales tax increases right? Something about them being punitive toward the poor?

Mayor Parker and the newly appointed board members have promised to clean up Metro's ship. Welcome to your first big test.

Have a great weekend.

NOTE: Silence from ChronBlog. I guess this doesn't reflect well in the mirror? A city without a strong citizen advocate media indeed.

1 comment:

  1. *tap tap*

    "Mr. Magaziner, we are from the Tax Appraisal Board, and we're here to help. We have some good new, and some bad news. The good news: we have granted you a reduction in your property taxes of 90%!"

    "The bad news: we based it on a 95% reduction in the value of your property. You know, the property Metro wants to condemn to build their new rail line on."

    "Have a nice day."



Comment Policy:Any comment containing profanity or presonal attacks will be disallowed. Repeated violations will get you marked as SPAM. Real name is preferred, fake names will be carefully considered before being allowed. If your on-line moniker is so widely known as to be a clear identifier, that's OK too. If your comment doesn't appear, give it some time. I do have a day job.

Sports Section