Question 1 for Mr Parker

Moderator Posts : 206 Join date : 2009-01-27 Age : 44

Nice to see you on here Mr. Parker. Don't take us as seriously as we take
ourselves. Smile

I would love to get to the bottom of the mystery 1.2 million dollar grant
"reimbursement" for the Martin/SHS projects, or more specifically the tax rate
applied to the tax payer for that specific exemption. I know you mentioned at
the forum that the taxpayers are being reimbursed with that grant money, but
based on my research, and emails with Bruce (whatever his last name is) that is
not the case.

Personally I think the elephant in the room is everyone in power knows it has
been spent....or being spent....

I have a lot of info, and we are working on getting more. If you are interested
in getting to the bottom of it or at least looking at the info we have and
helping us interpret it (none of us are CPA's) you can email me at my primary
address....mkreyssig@verizon.net

Thanks

1.2 mil question Sat Apr 11, 2009 12:07 pm **dave parker**

I WILL SIT WITH FIN. DIRECTOR NEXT WEEK AND GET ANSWERS-AND WILL POST THEM--I'M NOT HAPPY THAT A CITIZEN CAN'T GET A SIMPLE QUESTION ANSWERED WITH A PHONE CALL-LET ME GET UP SPEED ON THAT PROJECT AND i WILL POST ANSWERS HERE AND IN YOUR E-MAIL
DAVE

Re: Question 1 for Mr Parker Mon Apr 13, 2009 8:03 pm **mkreyssig**

Here is the answer from Dave minus his personal info.... Smile

....Thanks Dave! Since I was wrong about this, that does leave the unanswered question of where that mystery money came from the back half of 2006......(And Tom B. now all of your points make sense as this is not a grant. I think the PDF I had that called this money a grant is what was throwing me)

And the answer is.....

1. the project was approved for 24 million
2. the state is reimbursing us 70% or 17 milllion for this project
3. we borrowed the 24 million from the bank
4. our payments are 1.8 million per year with 1.2 from the state and 600,000 from us
5. the contract runs until 2024
6. the rate is around .03 cents per thousand for us (for the600,000)
7. the 1.2 million you mentioned is not a grant but rather our reimbursment that we send to the bank each year so we only have to pay 600,000 out tof the 1.8 million
8. in 2025 out taxes will be reduced by 600,000 or .03cents per thousand for each of us
9.there is no grant attached to this project--just the 1.2 million check from the state and we send that to the bank every year--we do not spend it on any thing else except the loan--(required by law)

Re: Question 1 for Mr Parker Thu Apr 16, 2009 10:01 pm **mkreyssig**

Dave - Doing the math here. Did you by chance mean .3 per thousand vs .03? Because .03 does not even come close to raising 600K.

There are 4947 houses in seekonk with a median value of 350K. At .03 per house that works out to $10.5 per house or 52K.

Re: Question 1 for Mr Parker Thu Apr 16, 2009 10:29 pm **mkreyssig**

Sorry....my browser froze when I was in the middle of editing that and it sent it anyway....to be continued....

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