Spend it before San Diego schools can!

Thank you for informing Taxpayers of the $28.2 million Cash that needs to be spent before the Cash available for Neighborhood CIP Projects gets turned into RPTTF Residual Distribution mainly to the Schools and County of San Diego. With the City of San Diego Receiving 17.5 cents on the dollar to the City's General Fund. Item 200 Successor Agency Excess Bond Proceed Expenditures. See Video Start time 26 minutes to 58 minutes. Council Members David Alvarez, Todd Gloria, and Chris Cate confirmed that neighborhoods should call their Council Members on how to immediately spend these Successor Agency CIP Infrastructure funds, instead of Defeasing the Bond Proceeds by default. This is only a portion of the total Cash Hoarded by Civic San Diego staff through our Strong Mayor Faulconer. Negative Arbritrage and Total Debt Service Costs for the 51 Bonds, Long Term Loan Debt, and Bank Lines of Credit of the Successor Agency (SA) and LMIHAF have never been calculated.
— August 14, 2015 7:10 p.m.

Fate of Chargers predicted

City Council Tuesday July 14, 2015 at 2 pm Item S500. Stadium Reconstruction Project CIP and Amendment to Agreement with AECOM for CEQA EIR. $2,100,000 Total for CIP S-16025 Qualcomm Stadium Reconstruction. = $1.2 Million AECOM Environmental Consulting + $200,000 for Conceptional Design [Who is the Designer? Need name.] + $230,000 DSD Staff + $150,000 Public Works Staff + $320,000 Contingency.
— July 13, 2015 12:20 p.m.

Hysteria won't build a stadium

— July 13, 2015 12:17 p.m.

Hysteria won't build a stadium

City Council Tuesday July 14, 2015 at 2 pm Item S500. Stadium Reconstruction Project CIP and Amendment to Agreement with AECOM. $2,100,000 Total for CIP S-16025 Qualcomm Stadium Reconstruction.
 = $1.2 Million AECOM Environmental Consulting + $200,000 for Conceptional Design [Who is the Designer? Need name.] + $230,000 DSD Staff + $150,000 Public Works Staff + $320,000 Contingency.
— July 11, 2015 5:22 p.m.

Convention center sails in some choppy financial waters

Nothing. Hopefully the Gravy Train is over for FAL. Fifth Avenue Landing (FAL) LLC was never guaranteed anything in the Agreements and MOU. They have no case. Plus the California Coastal Commission erased all FAL Conrad Spinnaker Hotel claims at the June 10, 2015 Newport Beach hearing. These generous Gifts of Public funds to the private FAL should be investigated by State Controller Chiang, to see if there was a 2003 Sweetheart Lease Agreement for private benefit, or if the Lease was reasonable for our public State Tidelands. Fifth Avenue Landing failed to build a 500 room Conrad Spinnaker Hotel since Port approval in 2003. Therefore, FAL could, in theory, have to pay back the 10.5% Transient Occupancy Tax (TOT) lost by failure to develop the 500-room Spinnaker Hotel over the last 12 years. The incredible high negotiated $13.5 million Lease Option Agreement price including 6% Interest was done behind Closed Session Doors with SDCCC Director Steve Cushman leading the negotiations, without public input. See Page 330 At the October 7, 2003 SDUPD hearing, "Perry Dealy, representing Manchester Resorts, addressed the Board and stated that complex projects such as this one can be built without rent concessions or financial assistance. Mr. Dealy stated that it would not be fair for the District to grant rent concession for the Conrad Spinnaker Hotel project." Since 2008, the Port could have not renewed the 2003 Giveaway and let the Lease Option Agreement lapse. Especially when FAL notified the Port that their project did not make financial sense in 2008. The Port was working for the benefit of private development, instead of the public and sold out for $60,000 a year to Extend the Option agreement after the already 5 year delay. In 2010, the annual Lease rent for the FAL Leaseholds was only $114,000. Instead of Standard Percentage Rates. Which seems extremely low for a prime leasehold. Also $8.1 million was to be spent for Extraordinary Leasehold improvements including a new Public Restrooms, Public Park, and Waterfront Promenade. If FAL paid for these improvements they should get money back. If the SDCCC and City of San Diego ever wanted to acquired the FAL Leasehold for the public in the future, local regional Government SANDAG can Eminent Domain the FAL Leasehold and pay FAL reasonable costs to make them whole. And move their Yacht and Water Transportation Center (WTC) somewhere in downtown at no costs to FAL. "In addition to the hotel... must build a plaza, a 1-acre park, a transportation center for water taxis and a pedestrian bridge to the convention center... Port commissioners unanimously approved a repayment plan that would pay the developers, known as Fifth Avenue Landing, $8 million at 8 percent interest, over the hotel’s first 10 years of operation."
— June 13, 2015 4:19 p.m.

Convention center sails in some choppy financial waters

The issue of Defaulting on the the Fifth Avenue Landing (FAL) LLC Leasehold Option will be heard as Item 1 at the City Council's Budget and Government Efficiency (BGE-1) Committee next Wednesday June 17, 2015 at 9 am. FAL is claiming they are owed $14,219,381 including $13,805,514 in Principal and Interest, Plus $413,867 for Late Charges, or they will Foreclose on the public State Tidelands. The lease option was predicated on securing Convention Center Phase III Expansion financing through a private hotel vote, which was ruled illegal. The April 6, 2010 Lease included Paragraph 21 Hold Harmless on Page 139 of 333.
— June 13, 2015 1:06 p.m.

Interim dog park will do

See Note 21 (Pages 170-171) of the FY-2014 Comprehensive Annual Financial Report (CAFR) that shows $1,511,427,000 in Cash Fund Balances, which includes $85.6 million in Emergency Reserves + $47.196 million in Workers' Compensation + $39.59 million in Public Liability. Office of the Mayor and IBA have confirmed that there is at least $737 million in Cash that is available for CIP Infrastructure projects in these little known Fund Balances. Some of which have not been accessed in over 10 years. For example the Environmental Growth Fund has $4,204,000 is Unencumbered Cash, with no current spending plans for Individual Fund Balances. Mayor Faulconer's FY-2016 May Revise Budget will be heard at the Budget Review Committee on Thursday May 21, 2015 at 10 am. Not Tuesday's City Council meeting. So far the actual May Revised has not been posted online.
— May 16, 2015 4:46 p.m.

What kind of racket is Civic San Diego?

The best part of the lawsuit is the City Charter Section 117(c) Managed Competition issues. Our City Charter Section 117(c) states that the City Council can only contract out city functions is the work can be done "More Economically." Everyone employed at Civic San Diego makes Considerable more money than any similar City Employee. There is no way that Civic San Diego can do the work for a lower cost. In the Fiscal Year FY-2013 CAFR, Civic San Diego borrowed $20.4 Million from our General Fund Reserve Balance for extra Civic San Diego Administration. Then the Comptroller wrote off the Gifted $20.4 million as part of a $211 Million Write Off for Successor Agency debt. Shady. City Charter "Section 117. Unclassified and Classified Services. Employment in the City shall be divided into the Unclassified and Classified Service..." 
Section 117 (c) The City may employ any independent contractor when the City Manager determines, subject to City Council approval, City services can be provided more economically and efficiently by an independent contractor than by persons employed in the Classified Service while maintaining service quality and protecting the public interest. The City Council shall by ordinance provide for appropriate policies and procedures to implement this subsection. Such ordinance shall include minimum contract standards and other measures to protect the quality and reliability of public services."
— April 16, 2015 10:28 a.m.

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