Sunday, September 17, 2017

Aztec Theater - Part 2

The more I review City Manager Gonzales' memo to the Members of the Governing Body concerning this, the angrier I get.

First, I hope you have read my post immediately preceding this one.

Now, let's look at this part of her statement:

The Aztec Theater will be owned and operated by the Aztec Group, LLC. The owners of this
company are Jeffrey Calkins, Christopher Calkins and Bruce Young. The owners are longtime
Shawnee business owners and residents with expertise in the areas of business, construction,
project management, administration, arts, marketing, and public relations. All three owners were
patrons of the original Aztec Theater.
Jeffrey and Christopher have both operated successful business ventures, including Calkins
Electric Supply Company, are members of the Shawnee Chamber of Commerce, and their family
has been part of the downtown Shawnee business area for over 60 years. Both are active members
of the Shawnee Downtown Business Association.
Bruce Young has operated a successful flooring business for 41 years and has experience in sales,
marketing, accounting, and construction projects. Bruce also has experience in music performance
and is very active in the local blues and jazz scene.

Now keep in mind that these three are investing a total of $100,000 are getting a loan for $150,000 and then want the city to kick in $500,000 (taxpayer money)

This is absurd.  What it breaks down to is $33,000 for each of them.  It would appear, that based on their bios as submitted by Gonzales, that that amount of money is chump change for these gentlemen.

This is what they need to do.  Invest $150,000 each, get their loan for $150,000 and then either find another investor for the remaining $150,000 or sell stock to additional investors.  There apparently isn't enough time so set up a 501(c)(3) for a "Friends of.............."

These long time, successful businessmen should be able to pull this off without hitting the taxpayers for any part of it.

When the economic development fund was created I heard some folks wonder if this was going to become a "slush fund" for the city manager.  Has that happened?  Is she attempting to ingratiate herself with the business community at the expense of the taxpayers.

Read my other post below, and then combine the thoughts.