Peoria has Private Investors

By:  Diane Benjamin In Bloomington and Normal government believes they are required to spend your money to create economic development.  Peoria evidently doesn’t.  Maybe it’s because Peoria is too broke – they have made significant budget cuts.  Maybe broke government  is the key to allowing the private sector to flourish.   See this story:  https://www.pjstar.com/news/20191210/kim-blickenstaff-purchases-stake-in-peoria-armory-plans-renovation  Excerpts: […]

The Clueless in Normal

By:  Diane Benjamin Below is another sheet the participants at the Citizens Summit worked from.  Although most of the questions show Normal has no idea what citizens think government should be – Question 5 is especially telling. The person who sent this page to me reported the entire table answered it:  NOTHING! The table was […]

Bloomington future debt and interest

By:  Diane Benjamin The Bloomington financial statements have the same debt table as Normal in this story:  https://blnnews.com/2019/12/09/more-on-normals-credit-rating-and-debt/      PDF page 91:  https://www.cityblm.org/home/showdocument?id=23337 The chart has a typo:  the 2035-2029 probably should have been 2025-2029. $52,090,000 for bond payments and $11,576,172 for interest.  The interest adds 22% to the total repayment.   Don’t get too […]

More on Normal’s credit rating AND debt

By:  Diane Benjamin Normal reported the same credit ratings in their financial statements that I reported in this story:  https://blnnews.com/2019/12/07/moodys-normal-doesnt-have-a-aaa-credit-rating/ PDF page 33:  https://normal.org/DocumentCenter/View/15625/CAFR19-FINAL-DOC What they failed to tell you is that Fitch is owned by a French company and is the smallest of the “Big Three” ratings companies.    https://www.sapling.com/7319147/sp-moodys-fitch-ratings S&P doesn’t not have […]