At one time, Panto had proposed a high school hall of fame for Easton. Now it's Nerd City USA.
Amazingly, Nerd Palace will still require the same $130 million that was proposed for the fish tank.
Executive Lamont McClure said he supports DaVinci, but needs realistic numbers.
In December, a lame-duck Council approved the $10 million grant from hotel taxes. It would commit the County to spending $250,000 a year over the next 40 years. Department of Community and Economic Development (DCED) Deputy Director Mark Hartney told Council that his department "has an overall positive view of the project." But he cautioned that, based on the numbers provided by DaVinci, it would be 99 years before the County began to see a return on its investment.
In 2017, DaVinci was awarded $50,000 in hotel taxes to develop a business plan, but no such plan is expected until the end of June.
Hartney has recommended an "independent analysis" by a third party who would be tasked with responsibility for verifying the assumptions and calculations in the still preliminary business plan. After a complaint by a local restaurant, DaVinci scrapped plans for one of its own on site. That will reduce its annual revenue by $1.25 million. "How is this revenue being replaced?, asks Hartney in a memo.
One dubious claim by DaVinci is that it will receive $4.2 million in support revenue annually. This supposedly will consist of $1 million in government support, $1.2 million in annual giving and $1.5 million in grants andc ontracts.
Hartney has also recommended that no money be provided until the shovels are in the ground.
DaVinci has previously said that 60% of its money would come in the form of government grants. But so far, only 38% of these commitments have been realized.
Peg Ferraro, Council's most vocal advocate for DaVinci, made a pitch for giving the project $250,000 this year, but that determination will come later.
Council will vote on ending the $10 million grant on February 15.
Let us be honest about why the original 40 year grant was approved. If the three republican county council people that lost in 2017 has been reelected they would have never supported this thing. They wanted to give a big FU to the new council and let them deal with the mess. Peg does what Andy Dodd tells her and Warner represents Easton and did his job. The other guys claiming to be tea party conservatives made a super political payback vote.
ReplyDeleteThis crazy funding scheme is going down faster than the Hindenburg.
Anyone have a wooden stake for this thing? They are figuratively pulling numbers out of their asses. Is county council that naïve?
ReplyDeleteI believe it will be revoked, but would support an independent study. I have always said this. DCED says this, too.
ReplyDeleteTo be honest council should not be giving any money toward this project. That 10 million could be spent in way better ways.
ReplyDeleteThe Davinci folks intitailly were considering other sites. They claimed their stakholders were directing it elesewhere. Then by the powers of a centrifugal force, intelligent matter became void and tunnel vision materialized like a fulcrum pitching a costly idea to the deep abyss. There was no scientific study performed. Just a conclusion and a series of experiments trying to find their way. This member is not impressed with this current proppsal and the methods that brought us to this point.
ReplyDeleteDon't waste taxpayers hard earned money!!!!
ReplyDeleteAhhh. Our "Pocketbook Peg" loves to spend the tax payers hard earn money. What's the total cost of "stupid" ?
ReplyDeleteShoot it down for Easton, redesign and move it to Bethlehem . All part of the grand scheme of things with these dems. The Bethlehem network is back , alive and well. lol
ReplyDelete@8:21 Well said.
ReplyDeleteThis fantasy and screw over courtesy of the outgoing council members and proposed by "Pocketbook Peg" had no sound financial need or positive cost/benefit analysis. This is Uncle Sal's debacle and let him and Easton go out on a short hook for it.
ReplyDeleteJust don't do it!!!!!
ReplyDeleteBethlehem has enough taxpayer subsidies money can buy.
ReplyDelete"This fantasy and screw over courtesy of the outgoing council members and proposed"
ReplyDeleteShould these phonies dare to ever run for office again, I will be pointing out what they did.
seth vaughn
glenn geissinger
mat benol.
fakes, frauds and phonies.
"Shoot it down for Easton, redesign and move it to Bethlehem"
ReplyDeleteIf you want to shackle the citizens of Easton with a white elephant, make sure you do so without NC.
This would never fly in Bethlehem, and for many reasons.
Lin Erickson was looking for a sucker, and found one with the man who wanted a high school hall of fame.
“But he cautioned that, based on the numbers provided by DaVinci, it would be 99 years before the County began to see a return on its investment.”
ReplyDelete“Hartney has also recommended that no money be provided until the shovels are in the ground.”
Yes, some sanity regarding this “proposed” project from Northampton County government. Yea!
"To be honest council should not be giving any money toward this project. That 10 million could be spent in way better ways."
ReplyDeleteHotel taxes must be spent to draw tourists. Can't be spend on other, far more important, needs.
I personally think this is a ridiculous idea that will fall of its own weight. But I am objective enough to agree to reserve judgment until there is an independent evaluation of the project to see if it could produce enough revenue to be self-sustaining. If that were the case, I would support it. There is no independent study. I would even agree to fund the study.
May be true Mr. O'Hare, but mark my words, some how Bethlehem will prevail in this. Just like Reibman's 110 million $$$$ bond fiasco. Money for casinos and roads, but nothing for county infrastructure. To many open spaces near the Sand's that need to be filled. The good old boy network from Bethlehem area will take care of it with our $$.
ReplyDeleteI am a banker. One never makes forty year commitments to private enterprises whether they are for profit or non profit. Nothing in business survives those terms. Look at some of the companies that comprised the Dow forty years ago in 1978: Woolworths, American Can, Sears. How would you like to have a portfolio permanently filled wit those losers
ReplyDelete1:01, how can Bethlehem “prevail” when it has no dog on this fight? A bad idea is a bad idea, no matter what its location. Your attempt to turn this into a Bethlehem v. Easton debate reveals that, in addition to your stupidity, you are parochial.
ReplyDeletepopcorn!!!!!!!
ReplyDeleteWe didn't want any stinkin' fish tank Sal and we don't want an otter park either. Reel in your ego Sal and stop acting like a spoiled brat. Be satisfied with what you already have.
ReplyDeleteTear down the hotel and build a great park that can weather a flood and the floods will continue to happen Sal. Use your head instead of your ego.
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ReplyDeletePost your racist crap somewhere else please.
ReplyDeleteWell my kid was just at NAHA ,Okinawa ‘s aquarium - Spectacular ,type it in and see . They have this facility there that is truly dynamic .
ReplyDeleteWould someone tell this Erickson woman that every time she makes her ridiculous pitch to council she is hurting her cause. Some council folks told me she is condescending and talking to them as though they were brain dead.
ReplyDeleteSpoken like a true politician, "I support Da Vinci but .... That's right, cover your bases McClure, you never know who's favor you may need in future. Figures lie, and liars figure. This lady keeps pulling numbers out of her hat. What a shape shifter.
ReplyDelete7:38, McClure is quite aware that this ridiculous pipe dream is supported by Panto and Boscola. he knows quite well that Panto, in particular, will be quick to claim that failure to support this project is anti-Easton. He knows vert=y well that Erickson has packed her board with people like Dr. Roy, who are very pro-education. It may very well be a wonderful project, but $130 million?Self-sustaining? Panto may want to spend the county's money. Boscola may think she can dictate what the county does. But McClure's primary obligation is to the taxpayer. he owes them a lean tax bill after ensuring that human services are provided.
ReplyDeleteDaVinci is a scam. Sell your Allentown site take that money and invest in new site. They are pulling numbers out of their asses and hoping that all of county council is as dopey as Ferraro. Time to tell that woman what the reality of life is all about.
ReplyDelete