Morning Reads for February 19th, 2014

February 19, 2014 8:37 am

by Jon Richards · 1 comment

Ed is still in Sochi for the Winter Olympics, where it colder than it is in Georgia.

I shall attempt to fill in.

Three Jack February 19, 2014 at 11:19 am

The Bobo Boondoggle continues in Cherokee County – http://www.cherokeetribune.com/view/full_story/24605767/article-Recycling-facility-sells-for-%244-2M?instance=home_top_bullets

Also three members of the board that recommended the deal be completed resigned right after the recommendation – http://www.ledgernews.com/news/after-recommending-lease-purchase-rrda-members-resign/article_cbc4f6be-98c8-11e3-9271-001a4bcf6878.html

Cliff note version of the story: County wants business off of a certain piece of property, overpays the owner to move then the business goes belly up so the county is now on the hook for $18M paying $100K per month in interest. A special board was created by the BOC to handle the $18M bond. The board known by its acronym RRDA was originally made up of the 5 commissioners but later was realigned with local citizens including the 3 who resigned. One commissioner remains on the BOC who was a key part of negotiations that led to the botched deal but he has yet to face a criminal investigation. In fact to this point, nobody has faced the kind of investigation this boondoggle warrants.

The BOC agreed to sell the property for $4.2M, taxpayers owe at least $14M and have been paying $100k per month for quite a while now. The original landowner, Jimmy Bobo who got the sweetheart, no risk for him deal walked away and faces no ongoing obligation. Somebody should be on the hook for this mess, where is the DA and why has she failed to prosecute?

Comments on this entry are closed.