The next big thing!

Well, I have thought about it, and this city’s idea of a “forgivable loan” is in no way a better position for the city to be in than the deal offered to Armco.

In the case of Armco, if Armco failed to live up to their end of the bargain, the city was in a position to seize all assets, sue their pants off, and at least attempt to recoup their investment.

In the case of PAC, the “forgivable loan” is a “loan” in name only. There are no terms or requirements for “repaying” the loan EVER, under ANY circumstances!!! (Yes, I have read the contract documents included in the workbook and made part of the legislation.) The “loan” is $200,000 that Verdin gets to use, in addition to the money already spent by the city, to upgrade, remodel and outfit the property as he sees fit. All PAC has to do is to “remain in operation” for ten years and not only is the “loan” forgiven, but also Verdin gets free, clear title to 7 N. Broad St. There is no definition of “remain in operation”. If PAC “ceases operation” during the ten years, the property reverts to the City, after Verdin has 30 days to clear out everything of value and “vacate the premises”!!! There are absolutely NO TERMS for payments of ANY KIND under ANY CIRCUMSTANCES!!!

Referring to this arrangement as a “loan” is akin to referring to the Grand Canyon as a “ditch”!!!

Verdin either sticks around and ends up owning the property, including the taxpayer-financed improvements, or he washes his hands and walks away whenever he feels like it.

PAC can “remain in operation” without ever having even ONE employee, or the city seeing even one red cent of tax revenue!!! All he need do is lease out a few “studios” to “artists” who can then choose to sell their wares (or not) WHEREVER they care to sell them.

As far as the “proven track record of success”, I believe that I wrote about the differences between Rising Sun (a rural location with two casinos that bring in thousands of visitors EVERY DAY with HUNDREDS of THOUSANDS of dollars of disposable income) and the PAC Cincinnati location (an area which also has THOUSANDS of visitors, commuters, shoppers, lawyers, etc. EVERY DAY and is within a short distance of DOZENS of other art galleries, art schools, and the like, etc.) before, so I won't bore the regulars by repeating. Comparing these two locations with Middletown is simply NOT apples-to-apples.

The most apropos comparison is Ashland, KY. Do you know anyone who has actually BEEN to PAC, Ashland??? I have…about two years ago…and I just did NOT see all of the development that others speak of, and goodness knows that, after PAC closed on that Friday evening, my wife and I desperately looked for somewhere to dine and perhaps have a few drinks. We gave up, settled for fast food, and went back to our motel. I might note that we had no trouble finding a park within fifty feet of PAC’s front door that Friday evening, and I didn’t even take the “handicapped” spot, though I am able to legally use one.

This may be scuttlebutt, as I heard it at one of the local watering holes. But it came from a usually knowledgeable source, who didn’t realize that I was sitting in the next booth.

There was a good bit of noise, and as many of you know, my hearing is not “20/20”. Also, I was NOT trying to eavesdrop. However, here is what I am sure that I overheard:

The City plans to “give” (context?) the former Senior Citizen’s building, as well as other downtown property, to Cincinnati State Technical and Community College, for purposes in addition to the “culinary school“.

Other downtown structures were mentioned during the conversation, but I am not certain of the context. These may or may not have been in conjunction with Cincinnati State, but the entire part of the conversation that I overheard seemed to be about that subject, so I tend to think they were somehow connected.

There was a price paid for my clandestine activity. Since I was not giving full attention to the conversation at OUR table, I must have uttered one too many absent-minded “uh-huh” and somehow agreed to pick up the tab!!! 

Now some of you may think that this will be a good thing (I’m talking about Cinci State, not my picking up the tab--me picking up the tab is always a good thing!!! ) others may not be so sure, but if I’m not mistaken didn’t the Middletown Art Center (MAC) have their eye on that former Senior Center building??? Bad luck for them!!! Oh well, we have Pendelton. We don’t need MAC so much anymore, do we???