Normal: Millions for Interest

By:  Diane Benjamin

Bills for Monday night:    http://www.normal.org/ArchiveCenter/ViewFile/Item/3124

Below are $2,018,187.32 in interest payments. 

Projects never cost what they say because interest is usually not included.  

If Uptown was such a huge benefit to the Town, your taxes would be going down.  

Are they?


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8 thoughts on “Normal: Millions for Interest

  1. Look at all the interest payments! The bankers are getting rich! Where are all the occupy liberal nutjobs? Oh, it’s okay if the money is being borrowed for big government. Why does the Town need to sponsor the Chamber of Commerce? Guess no one knows who they are, so they need to advertise. Or, it’s to grease the wheel at the Chamber of Crony Commerce…gotta make sure those companies are the “right fit”. Maybe Normal is looking for a sucker, er…I mean tenant, for 1 Unoccupied Circle. And Koos going to LALA land for the Rivian party. Wonder if he got his picture taken with Rihana.

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  2. Speaking of Koos I hear this morning (as I was waking up) on Weird Gay Lesbian Telecommunications that Koos has put down money on a new RIVIAN truck/matchbox car to “show his support” SUPPORT for WHAT Mr KOOS? You PAY the yard work, give them grants and kiss their pygidium! YOU should be getting the money NOT Rivian. They have Koos so far scammed it isn’t even funny anymore.
    As for the the interest payments. This reminds me of an OLD math trick my late father taught me. I’ll give you ONE MILLION DOLLARS! IF on the first day of February you give me a penny, and the second day give me TWO pennies, and on the 3rd day give me 4 pennies, and DOUBLE it EVERY day till the end of the month! DO the math… I WIN!

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  3. Koos is the perfect example of bending over for RJ Scamringe and cooing “Thank You Sir may I have another?” Not that I want Koos getting ANYTHING for free it would be only fitting that IF they ever produce a car/truck/SUV etc that they GIVE the stupid little twit one – and it might only BE one, since I doubt more than 50 people in the entire country are going to line up for one of these things – I can already imagine all of the problems this thing will have, but to be honest I don’t think there are EVER going to be any actual vehicles produced at the old Mitsubishi plant. Actually, it would be hilarious to someday read about Koos and his little electric car being found stranded on 74 on it’s “maiden voyage”.

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  4. Uptown is the largest boondoggle in Bloomington-Normal history. (Yes, it beats the Coliseum/Arena). The Uptown project is now well into the $100 millions when you add the borrowed funds (principal), interest, ongoing expenses of running things like the theater and business association, as well as events/festivals, general maintenance, and other ongoing business expenses. What did we get in return? Bars, restaurants, coffee shops, and nicknack stores. Not to mention, two hotels on financial life support that continue to lose money, private and taxpayer. No new tax revenue has been created by Uptown. It’s tax money that would have otherwise been spent at another bar, restaurant, coffee shop, or nicknack store in town. Yet, the establishment continues to say that the evidence of success is how it looks compared to years gone by. I wasn’t around then, so I can’t compare, but even still, that’s a tough sell. Imagine if a tech hub was built instead or a research facility. Our local leaders are stuck in the ye ol’ days. They think the key to economic prosperity is retail with their minimum wage jobs and paper thin margins. Way to go, Koos! I’m enjoying the far left and conservative candidates essentially uniting to attack your pipedream of Uptown, which is paid for with tax dollars to millionaire out of town developers in the form of corporate welfare. This is going to be fun to watch!

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  5. It appears Normal Town Council member Scott Preston also reported putting a deposit down.

    About the MARCFirst payment, do people associated with that organization provide services to the city (1099 payments) or does the city give them funds for MARCFirst’s own service? If it’s providing janitorial services, that could also be saving on long-term pension expenses.

    As for the Mark Petersen Plaza, that is just a joke.

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