Part 4 – Willson on Lakewood SportsPlex & TIF Documents

Final segment of bond analyst Steve Willson’s take on the recent documents produced by the Village of Lakewood on the SportsPlex proposal and its Tax Increment Financing District.

Here are the previous articles:

Notes on the Lakewood TIF FOIA dump 5/27/15

Steve Willson

Steve Willson

11. That [Erin] Smith is still pushing the SportsPlex is confirmed again in Catherine Peterson’s email to Tom Zanck “does the election kill the sportsplex?” (email 4/8/15 [Tom] Zanck to [Catherine] Peterson)

12. We have a letter from Erin Smith to [Governor Bruce] Rauner (4/24/15) offering to give away free the land they spent $600,000 of the taxpayers’ money to buy.

13. How is the SportsPlex doing in raising money?

We heard Chinese investors might be interested, but in an email dated 3/27/15, [Lou] Tenore says he is now seeking USDA guarantees so he can borrow, and that will be based on re-characterizing the SportsPlex as a “community center”.

He mentions hiring a lobbyist because the FEMA specifically prohibits athletic centers and fields as community centers.

In a 3/29/15 email, Tenore confirms he has permission to “represent ourselves as a community center”.

Not that they really ARE a community center, just that they want the legal, technical okay so they can go after the money.

As with calling raw land and a golf course “blighted” and ignoring all evidence that opposed creation of a TIF district, I am appalled at the lengths all parties will go to to use technicalities to get their way and do a clear end-run around the intent of the law.

14. This pattern continues in Erin Smith’s letter to the Illinois Department of Commerce in which she says they have “a recent proposal for a significant development”.

It’s still the SportsPlex, which, five years later, still hasn’t shown they can raise a dime.


Comments

Part 4 – Willson on Lakewood SportsPlex & TIF Documents — 5 Comments

  1. When will Lakewood dump these Agenda 21 hugging lunatics?

    Just incredible, what these devious maniacs are trying to pull over on the unsuspecting folks of McHenry County.

    And you thought BIG government was the problem!

    Looks like really little government can be extremely evil.

  2. It’s the little government that wants to be a big government that’s the problem.

    When you don’t learn from your mistakes you’re bound to repeat them.

    Maybe the sports plex can be built on Redtail?

  3. Tenore and his crew, I totally get.

    Knock on every government door, until someone falls for this ‘Bridge to no where’ scheme.

    Of course McHenry County strikes pay dirt for them, with it’s own hinky dinky version, of Betty Loren-Maltese.

    Just the fact they have come this far with this scam, taxpayers have already lost.

  4. Mercy Hospital, the bleacher scandal, Oakwood Hills and now the Sportsplex.

    The tax payers should demand Erin Smith’s resignation!

    What is the incentive for her to continue this scandal?

    Is she getting money out of the deal?

    Just asking!

    All personal bank accounts should be evaluated.

  5. So we should write letters to the Illinois Department of Commerce with the REAL truth regarding the “significant development”.

    The more uncovered on this, the more disgusting this whole Sportsplex/TIF is!

    Appalling that anyone involved in this deception can even look at themselves in the mirror.

    Most of us were raised better than this.

    Thank you Steve Willson for your honest information.

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