Mayor Dave says that the $3,000,000 cash payment and $500,000 IOU will be repaid by Development Charges. In fact, it is now an Accounts Receivable. So don’t worry, it is an asset.
But wait?!?!?!?!? What is this?!?!?!? We need to recover this “asset” from Development Charges. It looks like we need 12,000 homes (or about the size of Welland) to pay off this debt.SEE & READ MORE
So, it turns out we did pay the Allen Group $928,000 per acre for land. The Town Council used the Excess Parkland Dedication by-law for this “parkland” that is promised.
But wait??!!?!?! What is this?!?!?! The deal closed in 2016. Cash was provided to the developer in 2016! Why does the 2016 Tangible Capital Assets table only show an increase in Land of $49,547?SEE & READ MORE
The Town of Pelham was caught with giving a developer a sweetheart of a deal when it agreed to pay $928,000 per acre for a park (or road, depending on who you ask) and issuing a nice fat IOU in exchange.
But wait?!?!?!? What is this?!?!?!? The Town’s staff had estimated they could only get $600,000 per acre for the same area once the land was fully serviced.SEE & READ MORE
Do the Mayor’s bidding and you will be rewarded.
Poor CAO Ottaway only earned a measly $143,068.30 in 2014. After successfully implementing Mayor Dave’s Excessive Borrowing and Taxation scheme (D.E.B.T.), the CAO has been well rewarded with a 16% increase to $166,827.39 in 2015. He must have let the Mayor down with the exposure of his stinky land swap deal, because poor Darren only managed a 5.5% raise in 2016 to $176,076.77.SEE & READ MORE