Imagine how many Lifeguards . . .

By:  Diane Benjamin

Would you prefer an adequate number of Lifeguards on duty when you take your kids to the pool, or a historic building benefiting one lady?

If the taxpayers in Normal knew all the facts concerning the “historic” property at 305 Pine St, they might consider it a waste of their money.  Let’s review:

May 2016:  

http://www.pantagraph.com/news/local/government-and-politics/ryburn-gift-shop-is-phase-one-of-sprague-s-plan/article_ee6fe873-64b5-595b-9429-1358617a146d.html

and

https://blnnews.com/2016/05/16/normal-sick-of-your-government-yet/

The former Sprague’s Service Station, 305 Pine in Normal, was purchased by the Town of Normal from Terri Ryburn.  The Town paid off her mortgage of $229,000, gave her $5,000 for her efforts, and bought a lot next to the property for what she paid: $24,000.

Ryburn gets to live in the second story for $120 per year for 10 years – as caretaker of the property.  She is opening a gift shop on the first floor, the Pantagraph article states maybe as early as last fall – it still isn’t open.  She was given a license to operate the shop, so she must be keeping any future profits.

The Town is paying property taxes on this property:  $3,347.34

http://mcleanil.devnetwedge.com/view/RE/1427102008

The Town paid $148,000 to replace the parking lot – note from you paying more sales tax:

http://il-normal.civicplus.com/ArchiveCenter/ViewFile/Item/2100

 

 

This week Terri Ryburn has a full TWO pages in the Normalite reviewing Route 66 history.  Here’s a snippet:

How much is Normal spending to complete the restoration of the building?  Um . . .

Better yet, the gift shop is named after her!  I thought the point of this building was its ties to Route 66.  Ryburn Place doesn’t say much about Route 66.

I’m going all TIF on you again!  If you don’t know TIF’s are government’s way to create money they can spend without you knowing about it until much later.

This property is in the One Normal Plaza TIF.  The most recent information on that TIF is from 3/30/2016, on this report is has a deficit of $5,225,604.  The TIF began 9/19/2009.  See the report here:  ftp://ftp.illinoiscomptroller.com/LocGovTIF/FY2016/06409531/16TIF06409531One_Normal_Place_1.pdf

Here’s the fun part:

The report shows Terri put $359,711 in this property

The Town so far has contributed $9,633 + $229,000, + $5,000 + $24,000 + $148,000 = $415,633.  Most of this money was not generated by the TIF, it’s tax dollars.  Last year the TIF made a whooping $13,495.  The Town investment in this property won’t increase TIF income because they would be paying it to themselves.  This 8-year-old TIF isn’t providing redevelopment dollars as promised, it’s being done with your taxes.

Shouldn’t the Town or citizens have a say in the gift ship name since it’s THEIR money?  Terri will only operate it for 10 years, actually 9 since she’s already lost one because it still isn’t open.

These are other stories I’ve done about this property and TIF’s:

https://blnnews.com/2016/05/17/tif-reporting-problems/

https://blnnews.com/2016/07/25/normal-just-for-you-2/

https://blnnews.com/2016/05/16/normal-sick-of-your-government-yet/

One more thing:

Lee Enterprises, parent company of the Pantagraph, announced profits for their latest quarter.  Many of their reports praise their “aggressive debt reduction” for increasing profits.

Has the Pantagraph EVER reported negatively on government debt?

Has the Pantagraph EVER questioned Normal’s huge debt pile?

Has the Pantagraph ever questioned government’s fallacy of debt creates economic activity?

Lee Enterprises hates debt, but government debt is good?

Lee Enterprises’s accountants are smart, can’t say that much about the rest of the staff.  Maybe government creating debt makes for good stories, as long as the total price with interest isn’t mentioned.

http://qctimes.com/business/lee-enterprises-reports-strong-fiscal-rd-quarter/article_332d8e41-aeb4-5c9a-92b4-f38ffdf70088.html

 

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Comments

  1. Wow what a great article! Awesome research on this one….the citizens of Normal should be angry and deserve an update/explanation.

    Like

  2. Very disappointing in how Koos and Renner and Co. rack of debt with these TIFs. My question would be if one has ever produced a positive benefit when all is said and done.

    Ryburn got herself a steal of a deal, basically getting what, $100k+ in “free” rent. I mean I would love to pay $1,200 for rent over 10 years.

    Like

  3. Got my Panzygraph renewal today. NO WAY!! Ain’t worth the $300+ a year they want. Let em eat cake.. OR they can get MORE ads from Tari and Koos! ta da!
    Bicycles on sale and FREE LUNCH for Bloomington people-RIGHT TARI!! ya ole dog you.

    Like

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