Fraud on Dallas Taxpayers
Something is happening in the next two weeks that should
concern all Dallas residents.
An insider deal is being railroaded through City Hall that will set the course
for the Dallas economy for many years. It has to do with the additional
$43,000,000.00 that the arena people --- Tom Hicks, Ross Perot, Jr., etc. and
their minions in the city bureaucracy, past and present, such as Ron Kirk, John
Ware and Ted Benevides --- are trying to extort from Dallas.
This issue will hit YOU in terms of your own property TAXES. Perhaps you
were upset with the property appraisal increase you got in the last two weeks.
After all, the economy is supposed to be tanking, isn't it? Well, YOU
HAVEN'T SEEN ANYTHING YET.
Here's what is happening.
The Palladium developers (AKA Hicks, Perot, Kirk et al) are demanding 43 million
in tax abatements or, they say, they can't come through on the development they
promised when they promoted the original arena deal way back when (never mind
that the deal has, of course, changed greatly in the interim). The City
Council is set to vote next Wednesday on this, and it appears that the necessary
8 votes will be cast to approve the deal.
Here's the first kicker: NO ELECTED PUBLIC OFFICIAL HAS BEEN ALLOWED TO
READ THE CONTRACT! THE COUNCIL IS BEING "PRESSURED" TO BLINDLY
GIVE AWAY 43 MILLION DOLLARS OF OUR TAXES. The TIF Board approved the TIF
without having access to the contract and without proper notification of the
meeting at which it was approved; a TRO is being requested to remedy this, but,
given Dallas politics this may not happen before the council vote is already
Would you sign off on a $43 million dollar deal without having seen the
contract(s) if it were your money? Or if it was money from people who
trusted you to invest it wisely for them? That is exactly what is
Now the second kicker, for those of you who may love the arena, think Ron Kirk
is the cat's meow, and admire the likes of Tom Hicks and Ross Perot Jr., I have
just read a report from the SEDWAY GROUP. (You may hear about this over
the next few days, but probably not from the Dallas Morning News or Channel 8
because the Belo Corp. is in on the arena deal from way back).
Sedway has dealt with Palladium in California, and it wasn't pretty. They
point out that the deal being pushed in Dallas is simply "beyond (their)
experience" and "astounding." AND THEY SURE DON'T MEAN IN A
Bottom line.... the Palladium development on the verge of being approved will
impact the downtown Dallas area to the tune of a $300,000,000.00-$450,000,000.00
decrease in downtown property values, thus eroding the tax base by this amount.
Unlike Palladium, Hicks, Perot Jr. et al, these folks actually pay taxes on
their property just like you or me.
Where do you think the shortfall will be made up? OUT OF YOUR
POCKET! Like I said, if you are upset at the prospect of the latest
ratcheting up of your tax bill, YOU AIN'T SEEN NOTHING YET.
Are you mad as Hell? Are you going to take any more of this? Are you
going to call your council person and demand due diligence?
If not, then think about this: THE CURRENT DEAL ($43,000,000.00) INVOLVES ONLY
20 ACRES OF THE 60 ACRES TO BE DEVELOPED AT THE ARENA. ONCE THEY GET THIS,
THEY WILL BE BACK. AGAIN AND AGAIN AND AGAIN...UNTIL YOU STOP THEM.