More on Dean Baldwin Painting
This comes from the interestingly-named "Who's a rat?" section of websitetoolbox.com. Lots of the same stuff only a lot juicier.
Pay particular attention to the company's troubles with taxes and also with the repayment of loans to economic development authorities there.
On the local level, Dean Baldwin owes more than $58,000 in back payments to the city of Roswell on a $525,000 urban development loan issued in 1999.The company has missed 11 months of payments, city officials say, but made its March and April payments. It is a month behind in paying its $1,000 monthly insurance payment on the building it rents from the city.
Assistant City Manager Larry Fry said the company has been "behind at times" in its payments. But he added, "We have appreciated their presence and their employment here."
That sentiment was echoed by defense attorney Bowles.
"I think no one would refute that Dean Baldwin is a great corporate citizen for Roswell," Bowles added. "They make a huge contribution to that community."
Obviously, authorities with the Roswell and/or State of New Mexico economic development organizations are kind of married to Dean Baldwin Painting at this point so it makes some sense to say nice things even while grinding your teeth. But what if they are not grinding their teeth? Or not even that displeased? Seems impossible, right?
Maybe not. Maybe it is the mindset of your basic "certified" economic developer to just not see the downside, period.
Keep in mind that on the 10pm news cast the night before the Midland City Council unceremoniously punted the Dean Baldwin Painting deal right out of the stadium that a representative of the Midland Development Corporation was taped telling the public that the MDC knew of the allegations/concerns/legal and financial problems facing Dean Baldwin Painting and that....this is important....all of the questions had been answered to their (the MDC's) satisfaction.
The MDC's problem now is that everyone now knows they were not at all sandbagged by Dean Baldwin Painting and that even after all that was discovered concerning problems with this company they were still willing to spend $23 million (most of it borrowed, mind you) on them and recommended to the council that they do just that.
In short, they still think Dean Baldwin Painting was a good deal for Midland that should have been done.
The MDC disconnected from its stated original purpose a long time ago when it became a subsidy candy store for all connected comers. I am glad to see that it might also be disconnecting from a lot of its usual defenders.
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6 Comments
The Well has already documented that since inception, the MDC has provided more funds for administration via the MDC, Chamber and City than for economic incentives.
The biggest economic benefactor of the Economic Development Tax to date is the Chamber to the tune of $2.5 Million ++
Os- Where did that Financial Statement come from and is another one due out soon?
That was the one we got form the City Auditor's office via Stephanie Sparkman during the mayoral race.....I suppose the Auditor could generate that report at any time if asked.
I know what you're going to ask next. No, it isn't availalbe on the internet.
I was pretty sure that it wasn't going to be online.
And nobody should bother looking for it at the MDC's own site. October is still their latest "Monthly Report".
Did I read that report correctly? The MDC created a total of 15 jobs during 2006? and nothing yet for the 2007-08 year? That can't be true, if it is we would be better off hiring 15 people to pick up trash in Midland with the ED monies. Oh wait that would interfere with the extremely needed and used "voluntary" garbage tax.
I am beginning to wonder what the administrative costs are? If I remember right (in which I may be entirely wrong) when the ED tax was enacted there was going to be 3 salaried positions. Now this venture is starting to sound like any other government job creationist entity (liked to Social Security, Welfare, Medicaid, Medicare, unemployment commission) where most of the taxes are used up in administrative costs. By taking out a 20 year bond, someone is almost guaranteeing this entity will stay around for awhile.