By: Diane Benjamin
Tonight the Bloomington City Council will hear from a developer who wants to acquire buildings downtown, tear them down, and then sell the blank canvas to the City. The price will be revealed tonight. Assume it’s high or it would have been made public before tonight. The agenda still says “possible vote”, big mistake Tari. You might as well scream “I am a dictator”, if Tari forces a vote that will be his new title.
Renner has been talking to Jeff Giebelhausen since at least August of 2014 – and evidently feeding him:
LUCCA GRILL INC $ 26.65 Business meal – Tari Renner, Jeff Giebelhausen – 8/26/14 http://blnnews.com/2014/12/18/eating-on-your-dime-where-potted-plants-come-from/
If this project was truly transparent, how would this work?
Yes, the buildings need to be torn down. Has the City condemned them? Have the owners been taken to Administrative Court and forced to make repairs or tear the buildings down themselves? Why did the City want an Administrative Court if not for this reason?
Renner has been negotiating a backroom deal putting taxpayers on the hook instead of the property owners or the developer. The Huff’s get a City inspired bailout, and the developer doesn’t risk any of his own money since he already has a buyer for the property – YOU.
If the Huff’s can’t fulfill their obligations as property owners, the City should seize the property. That is what would happen to the average citizen.
Next, the City should put demolition out for bid. Giebelhausen is establishing his own price instead of allowing the free market to operate. Would somebody else tear down the buildings for a lot less? Under the Renner plan we will never know.
One more note: The Pantagraph has been trying to sell their downtown building for years. Any redevelopment benefits them too, so don’t expect to find fair coverage.
Haven’t we seen enough taxpayer-funded bailouts? Renner’s dealings exemplify why the rich get richer at your expense. National politics is alive and well in Bloomington, transparency isn’t.
This entire deal is reminiscent of Paradigm. Insiders make deals over taxpayer-funded lunches and then stick you with the bill. Paradigm died for now, this deal needs to have the same fate.
Isn’t it scary that Renner taught Political Science?
The B/N Economic Development Council (EDC) will have 2 members there, Mr. Hales and Mr. Ham, both city employees. The EDC provides direction to secure “creative (highly speculative) financing” which puts a long term burden on the ordinary taxpayers…think TIF. The recently retired TIFs were not as successful as expected. Floating Bonds have also been suggested. Jeff Giebelhausen, a Commercial Real Estate Broker from Peoria has an option agreement with the seller and will get a nice commission from the sale of the property. Bloomington has a long history of subsidizing developers at tax-payer expense. Maybe the land can be turned into a parking lot.
Renner’s hotel is the first choice, of course parking will be needed too.
I was being sarcastic. Remember the urgency to purchase the Sugar Creek Packaging property.
Really well done.
Sent from my Verizon Wireless 4G LTE smartphone
I know when I was on a school board and we were approached by a developer the Superintendent wasn’t allowed to meet solely with the developer and at least 2 other board members were in attendance.
Renner having lunch with a prospect developer is questionable, maybe not breaking any law but definitely not ethical. Who’s to say what was talked about and negotiated. Renner should have declined the lunch would have been the wisest choice but given his “questionable ethics” this doesn’t surprise me at all. As far as we know Giebelhausen could have said here Tari I have $10K cash waiting for you if this deal goes through. I’m not saying he did say this but hopefully you see what I mean.
I do see. Hadn’t thought of that.
Hamilton was a choir boy compared to this crew. Un-freakin’-believable!
does this sound like the developer the City wants to work with???
EAST PEORIA — EP’s Timeout restaurant, the recipient of a $200,000 loan from the city of East Peoria four years ago, has closed.
“We decided to close,” said Jeff Giebelhausen, an owner of the restaurant that opened at 1011 E. Washington St. in November 2010. “The competition is tough. There is no shortage of places to eat in East Peoria.”
Giebelhausen is a former two-term mayor of East Peoria and former president of Cullinan Properties Inc., the developer of the city’s $100 million Levee District. He currently operates as the principal of the Giebelhausen Group, an economic development consultant business.
In November 2010, the City Council approved a $200,000 loan from its revolving loan fund for the family-oriented sports bar that moved into the spot that formerly housed Diana’s Family Restaurant. The loan was to be paid back in 10 years at an annual interest rate of 3 percent.
And though there are no current plans to reopen as a restaurant and bar, under Giebelhausen’s ownership or someone else’s, “we will continue to pay back the loan,” he said.
Ty Livingston, the city’s director of planning and community development, said he is working with Giebelhausen to explore possible new uses for the space.
“As long as the loan payments continue to be made, there’s nothing the city needs to do other than work with the owners to try to fill that void,” Livingston said.
He said the owners are current with their monthly payments.
EP’s Timeout is not the first business venture to slip through Giebelhausen’s fingers. Earlier this year plans to buy and renovate the former Cohen’s Furniture warehouse in Peoria Heights into apartments and retail shops fell apart even after the village agreed to give Giebelhausen $7 million to help purchase the mostly vacant building.
The money disappeared after Giebelhausen missed target dates to finance the project and after plans for the project were substantially changed.
Giebelhausen also is developing the former Uncle Al’s Steakhouse at 2466 Washington Road, with plans for a multi-use facility including a convenience store, small restaurant and storage units.
While EP’s Timeout remains closed, Giebelhausen said he purposefully renewed its liquor license in order to host a fundraiser Saturday for a local woman who is battling amyotrophic lateral sclerosis.
“Every thing, every idea is on the table for the use of the building,” Giebelhausen said. “If someone has a better idea, we would like to hear it.”
It sounds like a developer Renner and Hales want to work with. Like the article says, Crony Capitalism! Give it time, one of these pompous arses will wind up in jail.
ask all of his (Giebelhausen) partners in this restaurant/bar business. He used others money in a big time losing proposition.
He has a long history of using government. Just the fact that nobody else has a say about the cost should kill Renner’s dream.
good information to know…there is still no Council Meeting Packet available on-line…Giebelhausen has nothing to loose…only the taxpayers do