R-25 Correspondence – Corlss Lee
From: [email protected] [mailto:[email protected]]
Sent: Tuesday, February 1, 2022 6:12 PM
To: Council District 1 <[email protected]>; Council District 2 <[email protected]>; Council District 3 <[email protected]>; Council District 4 <[email protected]>; Council District 5 <[email protected]>; Council District 6 <[email protected]>; Council District 7 <[email protected]>; Council District 8 <[email protected]>; Council District 9 <[email protected]>; Mayor Garcia <[email protected]>; City Manager <[email protected]>; Linda Tatum <[email protected]>; CityClerk <[email protected]>; [email protected]
Subject: City Council Meeting Feb 1st agenda item 25 - Bond Issuance
-EXTERNAL-
Council members,
Sorry to be late providing comments. I hope this reaches you in time to be useful.
I admit I was never a fan of going out on a limb with the new civic center when the existing building only needed a retrofit for earthquakes, which in my view was a much better "deal." Council members were proud of the innovative "public private partnership" that was going to get us a new civic center without having to pay for it. This doesn't seem to be playing out as predicted and promised to the public.
I am concerned that I don't see a report by the City Auditor on the proposed funding via bonds. We pay that department to be a second set of eyes on financial transactions. I would have to guess that most of the council members do not have a financial background and this proposal is complex. It makes sense to get more opinions.
With so much at stake, shouldn't we be seeking more than one opinion by other financial professionals? Ernst and Young comes to mind.
Our city has made a number of decisions that "went south" like Community Hospital, the Queen Mary, and now the civic center.
Please slow down enough to complete due diligence, complete the study phase and obtain assistance in doing the evaluation considering options and the risks involved. This should not be a hasty decision.
Respectfully,
Corlss Lee
President Eastside Voice
Member Citizens About Responsible Planning