This Week in the Mercury
Tuesday, March 10, 2009
News Good Morning, News!!
Posted by Matt Davis on Tue, Mar 10, 2009 at 8:15 AM
STADIUM A "DONE DEAL"!!! Randy Leonard surpasses former mayor Vera Katz "in causing the most lasting damage to Portland over my three decades here," writes Jack Bogdanski, about the city's deal with Merritt Paulson, which supposedly still needs a third vote on council.
LENTS DEAL DEAD!!! As in, there'll be no baseball stadium out there, after all. A reader writes:
Mr. Leonard, Mayor Adams, et. al,
As a homeowner in Lents, I want to thank you all for selling us out and killing the dream of a AAA stadium in Lents Park.
Is this yet more evidence that the city couldn't care less about this community of mid to lower income, ethnically and culturally diverse, and older folks - or that the people in this community couldn't care less about elevating their standing and their property value?
As long as our new businesses in Lents consist of nail/hair salons, Sprint cell phone kiosks, bakeries slash euro-nightclubs that never actually open for business, and storefronts and lots that go unmanned and unimproved for years, this area will continue to rot.
Hey Portland, there is life outside the Pearl and inner east side hipsterdom. Too bad no one cares.
Denton Edwards
SE Harold Street
Portland, Oregon
MARTHA STEWART'S DOG DIES IN PENNSYLVANIA KENNEL BLAST!!! Wowee. Its name was Genghis Khan:
GENGHIS KHAN: GENGHIS GONE...
MISSILE THROWING CHIMP PLOTS ATTACKS ON TOURISTS!!! Have I woken up in some strange, altered Universe this morning?
VIOLENCE INTENSIFIES IN NORTHERN IRELAND!!! Police suspect primate involvement.
OCTOMOM'S NEW HOME!!! Will fit all 14 kids inside.
SHAKESPEARE'S ONLY PORTRAIT!!! Goes on sale in London.
OSAMA BIN LADEN IS 52!!! And to celebrate, he launches a new Jihad against the West. Old dog, new tricks.
Good day.
1
Hey Matt,
Posting letters from angry Lents residents about a lack of a stadium while talking out the other side of your mouth about lack of local support for a stadium. Must be nice to play both sides of the yellow journalism fence. "Provocateurs for Dummies"
Posting letters from angry Lents residents about a lack of a stadium while talking out the other side of your mouth about lack of local support for a stadium. Must be nice to play both sides of the yellow journalism fence. "Provocateurs for Dummies"
2
And from CPI economists to failed journalist bojack links...how long until you become Lars's "man in the field"?
If that doesn't work out, you could always hand out promo tins of Snus at local bars. Gotta get that paycheck.
If that doesn't work out, you could always hand out promo tins of Snus at local bars. Gotta get that paycheck.
4
"VIOLENCE INTENSIFIES IN NORTHERN IRELAND!!! Police suspect primate involvement."
HA! I see what you did there! you made a funny from that policeman being murdered - it's like Chasse in reverse amirite?
HA! I see what you did there! you made a funny from that policeman being murdered - it's like Chasse in reverse amirite?
5
Come on Matt...you've got to stop giving Bogdanski any kind of legitimacy. He's a steaming bucket of piss and bile. I know you know that.
You're having fun provoking everyone aren't you?
Plus you still haven't answered who will pay down the bonds and rent on PGE if Paulson leaves.
You're having fun provoking everyone aren't you?
Plus you still haven't answered who will pay down the bonds and rent on PGE if Paulson leaves.
7
"You're having fun provoking everyone aren't you? "
It is the sole purpose of the Mercury to do this. Are you new here?
It is the sole purpose of the Mercury to do this. Are you new here?
8
Well, looks like you guys win. The rich guy and the rich developers have made sure the fix is in.
Enjoy your boondoggle. This town is fuuh-ucked.
Can't wait for the debate over turning the entire westside of downtown into an urban renewal area. Finally, we'll cure the blight of NW 23rd! I should say I look forward to the "debate" because the council will make the decision with a bunch of property owners and developers and then pretend to have a public process. Like what just happened!
This town is so fucked. And enabled by you morons.
Enjoy your boondoggle. This town is fuuh-ucked.
Can't wait for the debate over turning the entire westside of downtown into an urban renewal area. Finally, we'll cure the blight of NW 23rd! I should say I look forward to the "debate" because the council will make the decision with a bunch of property owners and developers and then pretend to have a public process. Like what just happened!
This town is so fucked. And enabled by you morons.
10
Did I read that wrong or did you just make fun of someone's dog dying in an explosion?
So Matt Davis really is a puppy kicker. What an ass hole.
So Matt Davis really is a puppy kicker. What an ass hole.
11
The fact that Matt's "career" as a "journalist" has descended to nothing more than being bojack's bitch on a daily basis does give me the chuckles, however.
And your maturity and insight this morning is truly impressive, Blabby.
Hugs and kisses to all.
And your maturity and insight this morning is truly impressive, Blabby.
Hugs and kisses to all.
12
Sorry Daaaaave, but this crap really pisses me off. Most of all a large new Urban Renewal district, covering some of the most expensive real estate in town, which suspiciously seems to be taken for granted at this point before the public has even gotten a whiff of it.
What should a person in Lents feel right now? How long have they been going through a public process on this? How long were they jerked around?
How should the County and school district feel when they're told that the half of central Portland that isn't already a UR district is about to be taken off their books?
And for what? A sports league that WILL fail in the next five years. You guys are like infants distracted by shiney bobbles. Read the damn paper!! The state and every jurisdiction in it are off the fucking fiscal cliff!!!
I assume you balance your own check book. I assume you don't go run up thousands on your credit card every time you "really really" want something. I don't understand why people think that government finances are so different than personal finances.
What should a person in Lents feel right now? How long have they been going through a public process on this? How long were they jerked around?
How should the County and school district feel when they're told that the half of central Portland that isn't already a UR district is about to be taken off their books?
And for what? A sports league that WILL fail in the next five years. You guys are like infants distracted by shiney bobbles. Read the damn paper!! The state and every jurisdiction in it are off the fucking fiscal cliff!!!
I assume you balance your own check book. I assume you don't go run up thousands on your credit card every time you "really really" want something. I don't understand why people think that government finances are so different than personal finances.
13
And for the record, Matt is doing some journalism on this story.
Sycophantically repeating whatever the Mayor's press sectratary says like it's a fact is not journalism either (see the Oregonian).
Sycophantically repeating whatever the Mayor's press sectratary says like it's a fact is not journalism either (see the Oregonian).
14
No mention of any of this:
"Paulson Personally Guarantees Revenues: Merritt Paulson agrees to personally guarantee the revenues necessary to support the $31 million in debt on the two facilites, which protects the City's General Fund from any liability in the deal. That means that in the event of a failure of one of the franchises or any shortfall in revenues, Mr. Paulson will be responsible to pay the necessary rents and other projected revenues to the City anyway.
Paulson Cash Contribution: Merritt Paulson will pay approximately $40 million to purchase the MLS franchise and he agrees to pay $12.5 million into the stadium construction.
Other non-City resource: Another $11 million would come from a variety of sources that are being pursued by Mr. Paulson (Player income taxes, tax exempt bond authority, additional surcharge etc.) but if he is unsuccessful, he will be responsible to cover this amount of the stadium costs.
Cost Overruns: The City's liability for cost overruns are limited to $2.5 million. Merritt Paulson will be responsible for any amount above that."
"Paulson Personally Guarantees Revenues: Merritt Paulson agrees to personally guarantee the revenues necessary to support the $31 million in debt on the two facilites, which protects the City's General Fund from any liability in the deal. That means that in the event of a failure of one of the franchises or any shortfall in revenues, Mr. Paulson will be responsible to pay the necessary rents and other projected revenues to the City anyway.
Paulson Cash Contribution: Merritt Paulson will pay approximately $40 million to purchase the MLS franchise and he agrees to pay $12.5 million into the stadium construction.
Other non-City resource: Another $11 million would come from a variety of sources that are being pursued by Mr. Paulson (Player income taxes, tax exempt bond authority, additional surcharge etc.) but if he is unsuccessful, he will be responsible to cover this amount of the stadium costs.
Cost Overruns: The City's liability for cost overruns are limited to $2.5 million. Merritt Paulson will be responsible for any amount above that."
15
And there's no journalism here. KGW hosts a debate. The Oregonian and even the Trib manage to get the players on the record. Matt provides a cellphone pic of some spam. Just because you like the flavor of the shit he's stirring doesn't make it any better.
Would you like to place a wager on the MLS folding in 5 years? Say, a pair of season tickets to the Timbers, in whichever incarnation they may appear. We could memorialize the wager on SCUSA.
Serious offer.
Would you like to place a wager on the MLS folding in 5 years? Say, a pair of season tickets to the Timbers, in whichever incarnation they may appear. We could memorialize the wager on SCUSA.
Serious offer.
16
@Blabby: "I don't understand why people think that government finances are so different than personal finances."
I think people are under the impression that the government actually has money of its own; that it's not actually our money they're dicking around with, but money coming from some magic endless well.
I think people are under the impression that the government actually has money of its own; that it's not actually our money they're dicking around with, but money coming from some magic endless well.
17
Daaaaave,
You forgot to list the $15 million to be paid for by property taxpayers through the creation of the Urban Renewal Area. That is $15 million not coming from the General Fund but from the Urban Renewal "bucket." But that is $15 million of property tax funds that never get to even be seen by the city's general fund, the Portland Public Schools or the county. Please at least be honest that under this plan, at least $15 million of property taxpayer money will be spent to fund this effort. That means it will cost the City of Portland real money (see $15 million).
You forgot to list the $15 million to be paid for by property taxpayers through the creation of the Urban Renewal Area. That is $15 million not coming from the General Fund but from the Urban Renewal "bucket." But that is $15 million of property tax funds that never get to even be seen by the city's general fund, the Portland Public Schools or the county. Please at least be honest that under this plan, at least $15 million of property taxpayer money will be spent to fund this effort. That means it will cost the City of Portland real money (see $15 million).
19
"Paulson Personally Guarantees Revenues"
I admit this is an impressive guarantee, but what he's guaranteeing is the rent payment, and I guess whatever the City's cut of ticket sales is. It's definitely a bold commitment, but it won't be enough to cover the full cost of the debt.
I recommend you read today's post from the much-maligned Jack Bogdanski for an estimate of what the interest payment alone is on the amount of debt we're talking here.
I admit this is an impressive guarantee, but what he's guaranteeing is the rent payment, and I guess whatever the City's cut of ticket sales is. It's definitely a bold commitment, but it won't be enough to cover the full cost of the debt.
I recommend you read today's post from the much-maligned Jack Bogdanski for an estimate of what the interest payment alone is on the amount of debt we're talking here.
20
Bogdanski also thinks that everyone who attended the pro-MLS rally was hired and paid to be there by construction companies. Seriously. Dude doesn't have a salient thought in his skull on this issue.
21
Do you really think that Bogdanski believes that?
Or do you know that he was being sarcastic, but you're pretending that you don't know that, because being disengenuous helps you rhetorically?
Or do you know that he was being sarcastic, but you're pretending that you don't know that, because being disengenuous helps you rhetorically?
22
A CAT/NOT A CAT IS RETIRING FROM BLOGTOWN.
Remember when blogtown was fun? I do. This was a frivolous place where we could have fairly intelligent discussions about the issue of the day while simultaneously celebrating cat friday/caturday and trolling Matt into various nervous breakdowns while he was changing his medications and calling everyone racist. It was fun!
Alas, the whole fucking Sam debacle brought in some sort of ideologue brigade that wanted nothing but SRS BSNS, but unfortunately had the debate skills of lesser apes. Sam-gate sort of wrapped up, but these dipshits just found new things to have completely incompetent show-downs about. It's fucking boring, and I'm fucking bored.
I know that Rom and jake and all the other half-wits will count this as a win, to which I say "good on you". You've made blogtown insufferably stupid, well done. I'm out.
Kiala, graham, Alison, other decent people: It's been fun, and I'll miss you guys.
Mercury arts interns: by and large you all suck. Up your game.
Matt: You're a talentless hack, but you knew that. Good luck with the mental health issues.
KTHXBAI.
Remember when blogtown was fun? I do. This was a frivolous place where we could have fairly intelligent discussions about the issue of the day while simultaneously celebrating cat friday/caturday and trolling Matt into various nervous breakdowns while he was changing his medications and calling everyone racist. It was fun!
Alas, the whole fucking Sam debacle brought in some sort of ideologue brigade that wanted nothing but SRS BSNS, but unfortunately had the debate skills of lesser apes. Sam-gate sort of wrapped up, but these dipshits just found new things to have completely incompetent show-downs about. It's fucking boring, and I'm fucking bored.
I know that Rom and jake and all the other half-wits will count this as a win, to which I say "good on you". You've made blogtown insufferably stupid, well done. I'm out.
Kiala, graham, Alison, other decent people: It's been fun, and I'll miss you guys.
Mercury arts interns: by and large you all suck. Up your game.
Matt: You're a talentless hack, but you knew that. Good luck with the mental health issues.
KTHXBAI.
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