On March 28, we surveyed the state of luxurious riverside improvements in the wake of the Horseshoe Foundation's "just give him some money and maybe he'll leave us alone" gift to City Hall.
City Hall describes the four major projects to be funded (in part?) through the Horseshoe Foundation's $5 million gift.
The gift is to help fund projects in downtown New Albany and along the Ohio River Greenway. Four major projects will be funded through this generous gift from the Horseshoe Foundation of Floyd County.
Greenway construction has proceeded throughout the year on the New Albany side of Silver Creek, and Jeff Gahan's deep-seated desire to make the waterfront safe for normal folks just like him was revealed when his original public housing putsch plans called for the demolition of Riverside Terrace ... after all, do suburban bicyclists really want to gaze down upon the impoverished and their tawdry clotheslines?
I mean, can't they afford the laundromat? Rest assured, Deaf Gahan feels your pain, appropriately perfumed (and gated) community residents, and by golly, he'll queue the cattle cars if that's what it takes to be re-elected.
One of the lingering questions about New Albany's patch of Greenway has to do with the disposition of the New Albany Boat Club. It's another of those queries rudely handled by Gahan's team of spin doctors, whose dismissive reticence is the best reason to believe chicanery has been at play all along.
Our most recent update came on January 26, 2017.
In New Gahania, only the riverside squatters survive.
Then there's the New Albany Boat Club. It clearly was squatting for decades (see links below), but was given an 11th-hour reprieve when City Hall exercised eminent domain against a property owner who'd only just emerged victorious in a lengthy court fight against the squatters -- who were given back the property, which hadn't been theirs in the first place, by a City Hall that operates by divine decree, and not rule of law.
All of which leads to the most recent heroic announcement in a series of North Korean-intensity screeds, as the tourism bureau now joins the casino foundation in paying Gahan to please-just-go-away.
It's free money, says City Hall -- just avert your eyes while we displace public housing populations; then, as the champagne corks bounce off the drop ceilings, we all can still pretend we're letter-perfect, Greg Fischer-style Democrats.
Gahan must play trombone, too, as he seems to have mastered slide lubricant.
City Council to Vote on Capital Development Bond with Clark/Floyd Counties Convention Tourism Bureau Mike Hall Press Agency)
At their meeting this Thursday, the city council is set to discuss a capital development bond for the Clark/Floyd Counties Convention Tourism Bureau. In June of 2017, the city, in partnership with the Culbertson Mansion, applied and was awarded $825,000 from the Tourism Bureau for the New Albany Visitor and Historic Generator Project. The Culbertson Mansion is currently undergoing many restoration projects, including a full restoration of the home’s original cast iron. As part of the $825,000 award, approximately $231,000 will be applied to the cast iron restoration at the Mansion.
The City is aiming to help promote tourism through several additions, including a new boat ramp, additional picnic areas, boat docks, increased walking and running trails, and more along the Ohio River, including updates to the scenic and historic Loop Island Wetlands.
The capital development bond will be paid for through the $825,000 grant awarded to the City. There is no financial obligation for repayment of the bond from the city – the Tourism Buereau is responsible and obligated to pay the bond.
“This generous gift from the Tourism Bureau will help restore one of our most historic properties, the Culberston Mansion,” stated Mayor Jeff Gahan. “In addition, the city will continue working towards connecting our citizenry back to our river heritage, and will provide opportunities for everyone to enjoy our Riverfront Greenway.”
City Takes Steps to Save $220,000 Per Year Through Refinancing
At today’s New Albany Redevelopment Commission meeting, the board moved forward with refinancing three outstanding bonds in order to save approximately $220,000 per year. The refinancing proposal will not increase the original term length of financing, and lowers interest rates significantly.
The three outstanding bonds have a current rate of 4.125%, 4.870%, and 5.700%. Under the refinancing package approved at today’s meeting, the rate is 2.500% for all three outstanding bonds, saving approximately $220,000 per year.
“I’m pleased that we are able to refinance these obligations at a much lower rate,” stated Mayor Gahan. “This end of year action will net savings for the citizens of New Albany.”
The proposal will now move to the New Albany City Council for approval at their Thursday meeting.
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