Methinks there is
something afoot. I've noted that with a new TECHudson executive director that a former high profile Council member has joined its board as a director. This same former Council member (within the past three years) is a principal investor in a major new housing development, The Trails of Hudson. Watching the Council meeting of March 6 recently on cable TV, it appears that with the appeals of the board of TECHudson that a new contract would be signed increasing the city's investment. Soon the city will have invested near a half million dollars. Does this take priority over roads and streets, infrastructure improvements?
Now no doubt there is considerable risk on the side of the investors plus the presumed benefactors (city). But as Council decides to increase its position, has the city administration done its due diligence in assuring we will receive an acceptable return? Is 5 percent, or 10 percent, or 15 percent within a specific time horizon acceptable? What's proportionate to our risk? And why to a good friend of Council, the mayor and city manager? Is it a reward to a favorite son?
This member served on our Council, as one-time president, when it bought us the following: a money-losing municipal golf course, a soon to be $10 million property (YDC) that we don't know how to market, and now another investment with questionable promise of a good return. Is this good planning? Is it the right priority given over other city needs? I wonder.
Don Flower, Hudson
Comments