Since I was digging through the Dispatch archives anyways, I thought it would be humorous to copy down all of the hilariously inaccurate promises about the weed patch corpse repository Business Park. Here are some good ones:
“Ms. Toups said she wants to continue to provide infrastructure to develop the business park — which she said Harrison spoke against publicly. Ms. Toups said through the Lampasas Economic Development Corp.’s hard work, “we are on the verge of seeing large corporations come in [to the business park].” – April 21, 2017
“DeGraffenried said the LEDC was bold in its decisions to purchase the business park property and extend utilities to it. The city manager predicted Lampasas will enjoy many “spin-off benefits” throughout the city because of the utility work. ” – Oct 23, 2015
“Recent land clearing and development of a road at the business park, Mrs. Masonheimer added, have made the site more attractive to prospective businesses and U.S. 183 passersby.” – Oct 23, 2015
“Projects like this send a message that the city will provide the infrastructure needed for job growth,” [letter written by crusty, big-spending RINO fossil-dummy Roger Williams, U.S. Congressman] – Oct 23, 2015
“An economic study in 2001, [Neal] Leavell said, concluded a business park was the main item Lampasas needed to attract development.” – Oct 23, 2015
“We look forward to working with you and working to fill this business park with good jobs,” she said [Carol Faulkenberry, Texas Dept Agriculture] – Oct 23, 2015
“Mrs. Monroe noted the Lampasas Economic Development Corp. is working with the business park south of town on U.S. Highway 183, and she said she hopes the site will attract good employers to Lampasas. [Council member TJ Monroe] – April 14, 2015
“The incumbent said the city acquired the business park property several years ago but has lacked the infrastructure needed at the site. Soon, she said, the business park will be developed enough to be inviting to businesses. [Then-council-member Wanda Bierschwale] – April 10, 2015
“Grayson said he hopes to develop the business park and attract companies to the site.” [Then-mayor Grayson running for re-election] – April 3, 2015
The council also voted to guarantee funds for the LEDC’s loan with First State Bank Central Texas. The bank requested the guarantee in the event the LEDC becomes unable to pay off the loan. The LEDC’s $1.77 million loan from the Lampasas bank includes $1.3 million for the business park utilities. – Oct 17, 2014
“I feel like we’re getting somewhere,” board president Dr. Neal Leavell added. “I think we’ve really accomplished something. It’s taken a lot of patience, but we’re here.” – September 23, 2014
“Advocates of utility extensions have said entities compete vigorously for new jobs and that cities with ready-to-build sites have an advantage as they try to attract new businesses.” – August 8, 2014
“Economic development officials have said utilities for the business park are essential to make the 165-acre area attractive to companies.” – July 22, 2014
The LEDC was “proactive,” deGraffenried said, in acquiring the U.S. 183 property several years ago for a business park. The goal of utility extensions, the city manager said, is to develop the land into a site that can promote economic growth. – June 17, 2014
Here is the final side-splitter – September 23, 2014:
“Of the LEDC’s loan from First State Bank Central Texas, $1.3 million is for the business park utilities. Another $465,000 is for refinancing of the LEDC’s debt on the business park land. The total $1.77 million loan is for 15 years at a fixed interest rate of 3.35 percent. Along with the infrastructure the LEDC will fund, Lampasas has $200,000 in the city’s upcoming fiscal year budget for electrical extensions to the business park.
“The LEDC’s new debt service payment will be about $150,000 a year, Mrs. Masonheimer said. The economic development corporation projects annual revenue of about $250,000, which will leave approximately $100,000 for operating costs after making loan payments. “
BAHAHAHAHA!!! Annual revenue of about $250,000? Good one. Here we are FIVE years later and about $300,000.00 in interest payments (money vaporized)….and still no companies generating that $250,000 in revenue. No “high-paying jobs” in the park. There never will be. It is a pipe dream for morons.
Masonheimer is long gone, of course….and the weed patch sits empty, a black hole for tax dollar tithes to Pope Eckermann and other vultures. I don’t blame Masonheimer. She was given an impossible task by moron politicians. A fool’s errand, if you will. Everything I’ve read in the minutes paint her as a fairly intelligent woman with a good work ethic. She was just set up to fail. The same will happen to Mandy Walsh.
None of these boobs have EVER heard of the Sunk Cost Fallacy. They will keep flushing money down this corpse repository black hole for years and years. Mark my words.
Dissolve the LEDC. Sell the land. Stay they hell out of the “development” business. That is the rational course of action.