Living off government

By:  Diane Benjamin

Jeff Giebelhausen has a long history of doing redevelopment projects for government.  When taxpayers can be put on the hook for paying  part of the cost, projects the private sector would never touch are suddenly attractive.

Tari salivates over downtown Bloomington, therefore Giebelhausen is on it!

Here’s one of Giebelhausen’s past projects in Peoria Heights:

From: Matt Fick <[email protected]>
To: REDACTED
Sent: Friday, February 19, 2016 9:55 AM
Subject: RE: Pabst TIF Village of Peoria Heights
There were no funds paid to Mr. Giebelhausen from the Leisy-Pabst TIF or from the Village of Peoria Heights General Fund.  Mr. Giebelhausen worked with a group of investors to put together a plan to redevelop the old Pabst warehouse building but it never materialized.
.
There was a redevelopment agreement signed between Jeff and the Village but it expired when he failed to secure private financing.
.
Since then the warehouse has been purchased by Sherman’s which is using it as a distribution center.
.
Thank you,
Matt Fick
Administrator
(309) 686-23852
.

 .

Peoria Heights spent a lot of time and money creating a development agreement.  When Giebelhausen failed to secure financing all that money was wasted.

How much time and money is Bloomington going to invest in a project that financing may or may not be available for?

A TIF for downtown was established in 1986.  The first list below shows people who received payments in 2011.

The second list is people receiving money in 2010.  Both lists show the biggest supporters of downtown development – they are the ones profiting.

2011tifdowntown2010MILLIONS of dollars flowed through this TIF since 1986.  I’m working on finding other reports.

 

2 thoughts on “Living off government

  1. Those on the list are considered “the stake holders.” News flash–all of the taxpayers are stakeholders. Mr. G is out of his league here when it comes to brokering this real estate deal.

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  2. IF Mr Giebelhausen, wants to build a hotel, let him use his OWN money!! IF he needs money-like he says, they have these businesses called BANKS, which are MORE then happy to lend to reputable creditors. Otherwise, this deal is PURE POISON! Anyone else see this angle?? Tari? David? Anyone?

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