Ellisville Considers Speed Tables, Double-Fines for Walmart Roadways
A double-fine zone for drivers caught speeding was just one of the ideas proposed Wednesday to reduce potential traffic issues at the site.
The Ellisville City Council on Wednesday discussed various proposals related to traffic safety in response to residents' concerns about the impact of a pending Walmart Superstore.
The commercial project, which will be facilitated by The Sansone Group after the city council this month granted the developer a TIF district for the space, will be located southwest of Manchester and Kiefer Creek roads.
Councilmember Roze Acup said she's heard from constituents who live nearby Manchester Road and Weis Avenue who expressed concerns about the project's expected impact on traffic.
“And there’s already some issue with traffic, speeding particularly,” Acup said.
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Bill Menchak, 58, an Ellisville resident who lives on Weis Avenue, said he feared the store would lead to increased traffic on back roads such as Weis, Froesel Drive and Hutchison Road, which could be especially dangerous.
“Those streets house a daycare center, a church, a grade school … and it doesn’t take a whole lot of protocol to know that people are going to avoid Clarkson and Manchester.”
Councilmember Matt Pirrello said one “viable option” aimed at reducing speeding would be the installation of speed tables—scored portions of roadway or uneven platforms that limit the top speed for safe, controlled travel.
“Until you got to about 20 to 25 miles per hour, you can drive pretty well on them,” City Engineer Bill Schwer said. “When you exceed about 30 miles per hour, that’s when you’d run into problems and cars would bottom out and so forth. So they’re pretty effective.”
Councilmember Troy Pieper said that depending on residents’ support, he would back a zero-tolerance speeding area with a “double fine zone” for drivers cited for speeding.
“It would not take long to not have any additional problems,” Pieper said of a possible double fine zone.
A the close of Wednesday night's discussion, the council agreed to direct city staff to formally evaluate all roadways surrounding the project area, which should include sampling travel speeds and car counts, in order to identify potential problem areas.
Related Articles:
• K-Mart Manager Speaks Out Against Ellisville Walmart TIF
• Ellisville Small Businesses Mixed Over Pending Walmart
• Concerns Arise Over Push to Recall Ellisville Council
E. Schmidt
9:12 am on Thursday, May 17, 2012
This statement was made at the City Council meeting as well:
Because many voters in Ellisville have expressed their anger, disgust and dismay with this City Council’s 5 to 2 vote on the Sansone Wal-Mart TIF on May 2nd , the Ellisville Article 9 Alliance has decided to pursue the recall option provided under Article 9 of the City Charter.
None of the upcoming regularly scheduled elections give the petitioners’ committees ballot access and the November 6th general election falls within the last 180 days of term protection for the two Council members we are seeking to recall.
To fulfill your duties as a City Council and allow the voters of Ellisville their rights under Article 9 to exercise the recall option, this Council will need to an ordinance introduced for a special election and funding for that election. The information regarding cost can be determined by consulting with the St. Louis County Board of Election Commissioners.
As you are aware our City Charter provide for special elections in
Section 8.1. CITY ELECTIONS.
(b) SPECIAL ELECTIONS. The Council may by ordinance
order special elections, fix the time for such elections, and provide
for holding such elections.
It clearly states the City Council has the authority to set a special election.
cont'd
E. Schmidt
9:13 am on Thursday, May 17, 2012
cont'd
Just to be certain that there was no St. Louis County statute, code or ordinance that might conflict with the Council’s ability to call a special election for a municipal purpose, I spoke with Darold Crotzer, legal counsel for the St. Louis County Board of Election Commissioners who assured me that if the Ellisville City Charter allows for special election for a municipal issue, [as it does] the City Council could call for a special election municipal purposes outside of the established schedule. The County does not dictate when a municipality can call a special election for a municipal purpose.
So, as soon as possible the two petitioners’ committees will file the necessary paperwork with the clerk and send a letter to the Mayor and City Council requesting an ordinance be introduced for a special recall election for Troy Pieper District 2 and Dawn Anglin District 1 whose terms are now within the window of recall opportunity. We will obtain a sponsor to introduce the ordinance. We expect all of the Council members to vote “Yes” as well as approve funding to allow the voice of the voters’ to be heard.
We have chosen a date that will allow the petitioners’ committees ballot access and give them as close to the full 90 days they are allowed by law to collect signatures and not violate the two electeds period of protection.
Expect filings and correspondence on the recall matter soon.
Michael Rhodes
9:21 am on Thursday, May 17, 2012
Does the percentage of signitures you need to collect based on just each district or for the city as a whole? Wasn't sure from reading the charter.
E. Schmidt
9:59 am on Thursday, May 17, 2012
It’s clear. It’s right there. One need only bother to read it.
http://www.ellisville.mo.us/vertical/sites/%7B33CED3E0-6A3F-4820-B73B-819111695B3A%7D/uploads/%7BC857AE0A-6AC7-4BCB-8ECF-A06318187378%7D.PDF
Section 9.3. PETITIONS.
(a) NUMBER OF SIGNATURES. An initiative petition or
referendum petition shall be signed by a number of Ellisville
registered voters equal to at least ten percent of the total number of
persons registered to vote at the last regular City election. A petition
for recall of the Mayor shall be signed by a number of Ellisville
registered voters equal to at least fifteen percent of the total number
of persons registered to vote at the last regular City election; a
petition for recall of a Council Member shall be signed by a number
26
of Ellisville registered voters equal to at least fifteen percent of the
total number of persons registered to vote at the last regular City
election in that Council Member's electoral district.
K James
2:34 pm on Thursday, May 17, 2012
what does this have to do with the story at hand Liz? Aren't the comments on this story supposed to relate to the street issues? I have been nailed for being off the mark on stories, yet here you are doing just what you called me names for doing several days ago.
E. Schmidt
2:54 pm on Thursday, May 17, 2012
K James
I thought Chaste Castle missed my statement. He might have been out of the City Council chamber when I made it, maybe he hadn't come in yet or was interviewing someone from Weiss Ave. regarding how the proposed Wal-Mart TIF will increase traffic cutting through their neighborhood to avoid the intersection at Clarkson and Clayton Rds. I spoke early in the public comments section.
Perhaps you don't think requesting a special election to recall two elected officials and the money to fund it is news.
Other people do think it is news.
Chase can't be everywhere talking to everybody and taking notes at the same time. He's probably never been busier given there was a recent election and the Sansone Wal-Mart TIF controversy is still ongoing.
K James
3:23 pm on Thursday, May 17, 2012
Liz;
I don't care where Chase was during your comments, makes no difference to me, but as I have been told by YOU in other stories, STAY ON TOPIC. YOUR comments are not about the story above that is all.
K James
3:38 pm on Thursday, May 17, 2012
Ok, I give, Chase is not going to remove your inappropriate posts. So I will engage:
You know what I really want to know? Well, here it is....what is the PRIMARY reason for the recall? Is is because the council members in question are guilty of taking bribes? Did they do something illegal? Were laws broken?....or is it because they just don't agree with the vote and (utilizing a poorly written section of the charter)they can, no matter the cost? What's to stop the next person who's not happy with the way a vote went from wanting to recall whoever voted for/against something? Regardless of the outcome, I think it's in the best interest of the council to NOT approve a special election due to the fact that these members will be out in 6 months anyway.
K James
3:44 pm on Thursday, May 17, 2012
This so called 'movement' is going to keep good people with the best interests of the ENTIRE city at heart from even running for office. I am sad that the charter was written with that loophole, it is sad, people should have a voice, and those individuals who currently sit on the council have worked hard and tirelessly to try to make this city as a whole a better place to live for everyone in this city. I have met every single member of this current council, and there are 6 people on that council that I trust and believe are doing their best to provide for the entirety of this city and I am just sick and tired of the bad behavior used by some people on this blog who refuse to see that this was a gut wrenching decision made by people who are working with very little financial compensation and have to be continually abused. We elected these people, for a three year term, cherry picking who you do or don't like based on one issue is not only short sighted but in my opinion indefensible for the long term survivability of this community. NOT ONE OF THOSE 5 BROKE ANY LAWS or voted they way they did for ANY financial gain to themselves, they weighted the outcomes, and based on the future of this community they voted for what they believed to be right. It stinks sometimes to have to make hard decisions, but it was made, its over. It's time to think about the long term future of this community and our viability moving forward.
E. Schmidt
6:01 pm on Thursday, May 17, 2012
If you think Article 9 of the Ellisville City Chart is a loophole or somehow poorly written you might want to look at this document from 2000...(though I know you don't like to read things.)
http://www.mocities.com/resource/resmgr/publications/modelchartertb.pdf
I am fairly certain Ellisville used it as a model as did most MO municipalities that became charter cities in the last decade or so.
Initiative, Referendum and Recall have been around for about 100 years...and for good reasons.
E. Schmidt
4:01 pm on Thursday, May 17, 2012
K James--
This all goes back to political tone-deafness and that a majority of Ellisville voters (or even a near super-majority) feel they are not being listened to at all...not matter how many times they say it or how many different ways they say it.
We've covered this territory many, many times.
Simply don't become involved if you don't agree.
K James
4:04 pm on Thursday, May 17, 2012
Oh Liz; I am fully involved. I disagree 100% and will work tirelessly retain the current council members
Tired
10:09 pm on Thursday, May 17, 2012
Hey Liz...
Only you and about ten others still care about this...Walmart's coming, you're moving, and the City of Ellisville is better because of it...BEEP, BEEP, BEEP...With the exception of the new kid Mayor, this Council has my entire support...I bet when you were a kid, you held your breath alot while in the corner...The game is over and your team lost, now give the ball back to the ref, and leave the arena...PLEASE.
K James
8:05 am on Friday, May 18, 2012
Liz I get it that we have covered this territory many many times, we have different opinions. I believe that the council made the correct decision and you believe they did not. I believe that anyone reading the patch knows we have a difference of opinion. I also believe that anyone who reads the patch knows that you work tirelessly to intimidate anyone who does not share your opinion. The politics of personal destruction, it just gets old. I respect your opinion, i don't agree, you however continue to work with the name calling to anyone who opposes your point of view. It really is time to grow up Liz, make your points, respect the opinions of others.
and I am sorry that Tired is making light of your situation, I do not feel that is called for either.
E. Schmidt
9:45 am on Friday, May 18, 2012
K James and or Tired--
Go here and have some fun:
http://ballwin-ellisville.patch.com/articles/ellisville-to-prepare-for-zombie-apocalypse
Chase, I spit coffee on my keyboard and almost started crying. This is hysterical. Good job.
Tired
10:24 am on Friday, May 18, 2012
(You don’t have to wait until masses of drooling, stumbling zombies show up at your door)..........Sounds like an A9A meeting...BEEP...BEEP...BEEP.
K James
1:28 pm on Friday, May 18, 2012
Tired, you do manage to be so much more quick witted than I am. I think that you and Liz should start a road show.
K James
1:32 pm on Friday, May 18, 2012
and I think that ES and C Sloan should go on a date, they do seem to enjoy eachother's company so much
CSloan
1:51 pm on Friday, May 18, 2012
I enjoy the company of all kinds of people, K James. Why don't you join us, and you can tell us how excited you are about starting 5th grade in the fall.
K James
1:53 pm on Friday, May 18, 2012
C Sloan
I would love that, but three is a crowd and you two have so very much in common.
CSloan
2:07 pm on Friday, May 18, 2012
Was that supposed to be cutting? Based on the things you write here I had you figured for a much better mean girl.
It's remarkable how much you know about me. Then again, I'm sure it's easy to know things when you never really look past the end of your nose.
K James
2:21 pm on Friday, May 18, 2012
C Sloan, I am not a mean girl, but you two speak the same language. And your correct, I don't look too much past the surface some of the time, Life is tough enough trying to be a single mom to three. I hold no malice to anyone on here, we all have our opinions, mine are just different from yours. But it is clear from watching the banter between the two of you that you have much in common.
CSloan
2:40 pm on Friday, May 18, 2012
Guilty as charged. I enjoy Liz and find her to be funny and intelligent. What's my penance?
Believe it or not, you and I have things in common as well. I, too, was a single mom and I, too, am a homeowner. The only place where it breaks down is that I don't find renters (gasp) or people who work at Walmart to be second class citizens. It appears that you do, and that does, in fact, make you a mean girl.
K James
2:49 pm on Friday, May 18, 2012
C Sloan
I don't find people who work at any retail establishment as second class, my children's father has been in retail for 30 years. I just don't look at retail as a 'destination' job, for me it is a place to work when young, or supplementing. The hours stink, your feel always hurt and you have to deal with mean people all day long. I spent some time in retail both during high school, college and again shortly after college while I was looking for another job. I am not slighting ANYONE who works EVER. The pay is garbage, in ALL retail (my child support checks can attest to that fact).
As far as renters in Clarkchester go, I have stated SEVERAL times while blogging on this thing that IT SUCKS for them to have to move. I have great sympathy for them, but the sad truth of the matter is, their owners sold them out. I don't look down my nose or consider ANYONE a 'second class' citizen. I treat all people the same regardless of what they do or who they are. I have not a single predjuiced bone in my body. I do resent that accusation on your part.
I have my opinions on this subject, and I voice them because I do feel that ALL opinions matter, not just the ones that I agree with.
CSloan
3:08 pm on Friday, May 18, 2012
I don't see anyone denying you your opinions or trying to personally destroy you, but I do enjoy the way you approach the prospect with a level of drama usually reserved for evenings on Spanish language television.
That wasn't an accusation since I don't pretend to know you. Fair or unfair I've just formed an opinion of you based on the things you write here. Since you were matchmaking and all, I figured that was fair game. When someone says, "aim higher" in reference to a person working in retail at the "wrong" life stage, I tend to think that person is judgmental and might have a world view that could fit on a pencil eraser. I have absolutely no doubt that you've formed some opinions about me as well, and that's fine.
I wasn't under the impression that having things in common with Liz was that noteworthy. Apparently it is.
E. Schmidt
3:43 pm on Friday, May 18, 2012
C Sloan
Just pop on over to EllisvilleA9A@yahoo.com and introduce yourself.
I have found that it is extremely difficult to have any kind of discussion with people who won't read anything or fact check. Some of them get nasty when they are proved wrong, get called out and/or challenged.
Best not to engage when it degenerates like this...and I think we have reached a new low.
CSloan
9:41 pm on Friday, May 18, 2012
You have mail.
K James
4:10 pm on Friday, May 18, 2012
Liz; it is just hard for you to be nice isn't it. I was being nice in thinking that you and C sloan should be friends.
and can anyone join your EllisvilleA9A group?
E. Schmidt
8:08 am on Saturday, May 19, 2012
K James--
>>>can anyone join your EllisvilleA9A group?<<<
I don't know if you are asking for yourself or on the behalf of others.
But, just to clarify...
You do realize that the group is dedicated to recalling the individuals who voted for the Sansone Walmart TIF Project, correct?
So, they would at least need to agree to that course of action...and if not, they are welcome not to engage with us. It's that simple.
Michael Rhodes
9:51 am on Saturday, May 19, 2012
Would you welcome someone that wants to recall one of those persons based on how they voted on another issue although they may not have an issue with the Sansone TIF vote?
K James
10:03 pm on Friday, May 18, 2012
my oh my... I hope you ALL got a chance to read the 'bio' on Mayor Paul. in the West News Magazine. In the article near the end, Mayor Paul is quoted saying "Also, we need to gentrify our city." For those of you who don't know the definition, from Websters dictionary - and I quote word for word: Gentrify::: the process of renewal and rebuilding accompanying the influx of middle-class or affluent people into deteriorating areas that often displaces poorer residents. Your Mayor is a true piece of work. Wants to get rid of the poor people, his quote not mine, I think we should all live in peace together. Aparently the new mayor has different ideas.
Michael Rhodes
12:40 am on Saturday, May 19, 2012
I thought the the statement that he has no respect the other council members was a bit much. Would have been better to say he was dissappointed or even disgusted with their vote on the TIF.
I am sure he didn't mean get rid of the poor and elderly. I think he intended to mean make the city look newer through infrastructure upgrades and other ways. Mayor Paul has had difficultly with speaking in the past. He needs to learn to choose his words more carefully. I could be wrong and maybe he meant what he said. I would that wasn't the case.
K James
6:47 am on Saturday, May 19, 2012
Michael
I think that his poorly chosen words just go to his inexperience. He should remember that as a mayor in a charter city, he is one of seven, his vote is one, without the support of the other six, he has zero ability to get anything accomplished. So to have no respect for anyone else on the council, he is going to be pretty ineffective. A mayor in a charter city has to build consensus, not be a petty petulent man/child. He has passion to fight on a single issue, but does he have the maturity to guide this city? 'painting curbs' wow, that IS a plan.
E. Schmidt
10:11 am on Saturday, May 19, 2012
Michael Rhodes--
>>>although they may not have an issue with the Sansone TIF vote?<<<
The group is focused on the recall effort related to the Sansone Walmart TIF and not related to other votes or issues from the past.
Jimmy C
12:07 pm on Sunday, May 20, 2012
Kate James, I copied this ladies response to your comment on West county magazine's article. You are a terrible person and this lady took the words right out of my mouth. I was there when you were on the TIF commission. I copied and pasted her response
cont.
Jimmy C
12:08 pm on Sunday, May 20, 2012
"Kate James- You and Charles Pavlack are former council members and everything that is wrong with Ellisville today. You were the biggest joke of any council members we have ever had. You joined because your kid scraped a foot on the bottom of a pool? YOU are pathetic. Both of you were on the TIF Commission four months ago, selected by Pirrello, and listened to 20 people who were against this project to 1 who approved of it. YOU still tried to pass the ‘positive recommendation’ for this TIF and didn’t care to represent the people. WHY? Because you were hand selected by MAYOR PIRRELLO! You dislike Mayor Paul because he does the ‘right thing’!!! Unlike you! He broke up your clan of morons. You and Pirrello should be investigated for corruption and payouts. THAT IS A FACT! I WATCHED THE COUNCIL MEMBERS, THEY WONT EVEN SHAKE THE NEW MAYORS HAND. THAT IS PATHETIC! HE WILL NEVER HAVE RESPECT BY THE 5 ON THAT COUNCIL! HE BEAT 2 OF THEM IN THE ELECTION. HE IS RIGHT, SEATS WILL HAVE TO CHANGE AND WE CAN WAIT 1 YEAR!!! Your actually the one O.K. with, not ‘often’, kicking people out of town. You are hurting our town Kate with your ‘smear’ comments on various websites, not Mr. Paul. You are a joke and a former council member should show respect for our mayor, just like the others! Wake up!
Jimmy C
12:26 pm on Sunday, May 20, 2012
Kate James- with your bashing online comments, Charles Pavlaks letter to the editor right before the election, Dawn Anglin's (Current Council Member) husband disrespectful comments) and the board of alderman treating our newly elected mayor with disrespect is not enough.... you and Charles are former council members? What is wrong with the both of you? Is that professional? No, it isn't. I would be upset if I was Mayor Paul, too. He has to put up with you children. Nobody seems to listens to the people but Mayor Paul and Murrey and they are the bad ones? You are a disgrace. Go do something with your life. Oh and by the way, gentrify was used 100% correctly and if you really don't understand the meaning of the word and have to look it up and post the definition... I feel sorry for you.That is an intelligent and perfectly good word to describe what our city needs to do.
Michael Rhodes
11:11 pm on Tuesday, May 22, 2012
Thought I would check this since I did not know the exact definition:
gen·tri·fy gen·tri·fied, gen·tri·fy·ing.
verb (used with object)
1. to improve (a neighborhood) by gentrification.
gen·tri·fi·ca·tion noun
1. the buying and renovation of houses and stores in deteriorated urban neighborhoods by upper- or middle-income families or individuals, thus improving property values but often displacing low-income families and small businesses.
2. an instance of gentrifying; the condition of being gentrified.
MIKE K
4:30 pm on Tuesday, May 22, 2012
Jimmy C, weren't you the one that posted those awful photos of Walmart shoppers on another thread? That was in really bad taste. Now with your little rant above, you really need to seek out a psychologist to help you deal with your anger management issues.
E. Schmidt
6:19 am on Wednesday, May 23, 2012
>>>Walmart shoppers are not a protected class. Seems some people are taking it personally.<<<
I spit coffee on my keyboard.
Yeah and you're right about the "dislocated" citizens.
Throwing old ladies out on the street with $1,000 in their pocket and a five year waiting list for subsidized senior housing hardly rates a peep or protest in the comments section...but gawd forbid we should malign Wal-Mart shoppers...now, that's an insult!
Jimmy C
9:07 am on Wednesday, May 23, 2012
Yep, I sure did. I do appologize for degrading Walmart shoppers but the fact of the matter is..... Walmart brings tons of arrests and problems to a community, ie shop lifters, thieves fellons, and riff raff no matter what age, race, gender. That is a fact jack. Traffic Impact
•An average size Walmart Supercenter will generate nearly 10,000 car trips per day. (1)(2)
•A Walmart Supercenter often has between seven and nine tractor-trailer deliveries daily, as well as one or two smaller trucks delivering products from vendors. (3)
Crime Statistics
•In 2004, there were a reported 148, 331 police calls across 514 Walmart stores analyzed.
That equates to an average of 269 calls per store. (4)
◦In Texas, there were 21,741 police incidents reported at 69 stores studied. (4)
◦The Houston store located at 2727 Dunvale reported 1,123 police incidents, placing it in the Top 10 stores nationwide.(4)
•Between 2003 – 2006, there were:
◦16 alleged murders committed at Walmart stores and parking lots, including 2 alleged
◦murders in the Houston area (Katy and Spring).(4)
◦16 alleged rapes and sexual assaults at Walmart stores and parking lots, including 1 in the Houston area.(4)
◦11 alleged sex crimes against children at Walmart stores and parking lots, including 1 in the Houston area.(4)
•Nationally, Walmart stores cost taxpayers an estimated $77 million annually in increased police costs.(4)
Tax Information
E. Schmidt
11:18 am on Wednesday, May 23, 2012
Jimmy C,
It is my understanding that Wal-Mart by and large uses local police rather than hire private security correct? (Other than loss preventions specialists to prevent shoplifting.)
I also understand the calls for service that police have to respond to also exceed other retailers, correct?
If so, this is another way taxpayers "subsidize" Wal-Mart.
I guess it's a good thing that the police department will be across the street if the deal goes through. The Ellisville PD will become the Wal-Mart PD.
Please post those stats if you come across them.
Jimmy C
9:07 am on Wednesday, May 23, 2012
•There have been at least 29 subsidy deals in Texas benefitting Walmart worth a total of about $90.8 million.(5)
◦The Baytown and New Braunfels developments alone were granted $39 million in tax subsidies.(6)
•Since the mid-1980s, Walmart has obtained at least $1.2 billion in reported subsidies nationwide.(5)
•By its own admission, Walmart disclosed that they did not pay $2.85 billion in taxes for fiscal year 2009, which they would likely have to pay if audited.(6)(7)
Job Statistics
•Walmart store openings reduce retail employment in a county by 2.7%.(8)
•Walmart’s entry into a metro area eliminates similar jobs that pay about 18% more than Walmart.(9)
•The presence of big box stores, such as Walmart, causes “a substantial reduction in net employment growth at smaller retailers, which is mostly accounted for by an increase in job destruction from store exit.”(10)
•An average of two local supermarkets are forced out of business by every Walmart Supercenter.(10)
Michael Rhodes
9:46 am on Wednesday, May 23, 2012
Interesting. Can you provide comparable statistics for Target and Kmart (Sears)? Right now I can not tell if this is less, more, or in line with what other businesses experience.
Still do not see how this justify's your making fun of others based on their appearances (Walmart shoppers or not).
Jimmy C
10:24 am on Wednesday, May 23, 2012
http://www.youtube.com/watch?v=YvxNgdFeWqM
People like attention. How do you know I am not admiring them Michael. I find it humorous looking at men that dress like women and skin tight wrestling suits on overweight people. Who doesnt? When has it become illegal to laugh a little? If you crapped yourself with thong underwear on with your rear showing at walmart, I would laugh a little. It doesn't mean I hate you.
Michael Rhodes
11:35 am on Wednesday, May 23, 2012
If admiring men dressed as women or obese individuals gives you enjoyment then that is your own business.
I personally would not laugh at a person not knowing if they had a medical or mental condition that caused them to have difficulty controlling their bowels. Seems insensitive to me.
Jimmy C
10:26 am on Wednesday, May 23, 2012
http://www.youtube.com/watch?NR=1&feature=endscreen&v=ghrDIQ-K8mg
E. Schmidt
10:32 am on Wednesday, May 23, 2012
>>>Can you provide comparable statistics for Target and Kmart (Sears)?<<<
Can you provide them? Do some homework for us,
And when you do we will all see that Wal-Mart is the Welfare Queen of taxpayer subsidies. In fact, their phenomenal growth and success is built on taxpayer TIF subsidy and credits and taxpayers picking up the Medicaid bill for the health cares costs of their employees and the employees kids.
The High Cost of Low Prices.
E. Schmidt
11:04 am on Wednesday, May 23, 2012
And MR, since you don't live in Ellisville, you may have missed this little nugget about what a really sweet deal this is for Wal-Mart.
>>>Wal-Mart to hold $2M in notes (to encourage Wal-Mart’s full retail use of the property over time and to ensure that the TIF debt is paid off)<<<
So, Wal-Mart will gets tax-free muni interest from buying and holding the bond debt issued by the City of Ellisville AND write-off their lease payments on the store to Sansone Group as a business expense.
Lather, rinse, repeat nationwide and you can get idiot taxpayers to fund the debt to build your stores for you and then earn tax-free interest on the debt itself!
What a racket!!!
Michael Rhodes
11:15 am on Wednesday, May 23, 2012
ES: >>>Wal-Mart to hold $2M in notes (to encourage Wal-Mart’s full retail use of the property over time and to ensure that the TIF debt is paid off)<<<
"So, Wal-Mart will gets tax-free muni interest from buying and holding the bond debt issued by the City of Ellisville"
Isn't than how bonds work? I seem to recall concerns from the mayor and others that the taxes generated would not meet the bond obligations causing a default and ruining the credit rating. If that is still the case wouldn't Wal-Mart (along with the other bond holders) lose money on this sweet deal? Why doesn't the city just buy the bonds then if this is such a deal?
"AND write-off their lease payments on the store to Sansone Group as a business expense."
Isn't that what all businesses do? Not sure I understand your issue with this.
Michael Rhodes
11:28 am on Wednesday, May 23, 2012
I didn't provide the Wal-Mart detail or even know where it came from. You can tell it was copy from somewhere that took it's information from somewhere else (see the foot note indicators with no foot notes provided). Usually these studies do the camparables otherwise the study tends to be worthless.
E. Schmidt
11:28 am on Wednesday, May 23, 2012
MR--
With muni-debt of the TIF kind, usually only two things happen:
1. The bondholders suck the taxpayers dry and failing to do thay by law
2. The bonds get restructured as needed.
Rarely do TIF bonds default. (Check any muni-bond debt tracker service.)
I think the question is: Why is Wal-Mart only in for 2 MILLION?
Think about that for a minute.
Michael Rhodes
1:03 pm on Wednesday, May 23, 2012
You have lost me now. You take issue about Walmart holding $2m of the bonds and then question further why they only are taking on $2m of the bonds even though you have an issue with them already holding $2m in bonds. Your logic has confused me so on that note I think I will bow out of these converstations. Best of luck to you and hope to interact with you on other topics on the Patch..
E. Schmidt
6:28 am on Thursday, May 24, 2012
Michael Rhodes,
>>>You take issue about Walmart holding $2m of the bonds…<<<
Well yes, of course. I don’t think Wal-Mart should get to earn tax free interest on the bonds issued at taxpayer financed expense to build their store for them BECAUSE TIF IS A SHAM.
>>>… and then question further why they only are taking on $2m of the bonds…<<<
Well yes, of course. Since this is unfortunately allowed by law and this is the way these conniving thieves operate, why aren’t the grabbing more of this debt with both hands??? That’s the real question….
I think 2 MILLION is a small amount for Wal-Mart to hold on this particular deal.
Wal-Mart is usually quite piggish when it comes to slurping up tax free interest on the muni bonds issued to build their stores.
Of course the 2 MILLION on this deal may just be the “appetizer” to calm/con the City Council into believing they have a commitment to the store and will clear the pad...and then they go in for a “full meal deal” on the bonds later through the secondary market at below par.
Of course the 2 MILLION on this deal is perhaps ALL they ever care to risk on this project. If that is really all the bonds they are ever going to buy on their own store, it could signal a plain lack of faith.
If you don't get, it that's OK. Bonds are complicated stuff.
And I know you don’t live in Ellisville, so your interest is more in the nature of a debating exercise.
E. Schmidt
6:31 am on Thursday, May 24, 2012
And speaking of clearing that pad (from above) … I wonder if anyone has considered the following:
>>>Demolition provision—provides that if Wal-Mart leaves the building vacant (defined as in excess of 50% of the space) for a period of 12 months, the City can initiate demolition proceedings to clear the site and bring it to a “pad ready” development status <<<
Demolition??? At whose expense??? Is there a demolition/decommissioning fund???
Will some future Ellisville City Council have to bring suit to demolish the building??? Against who??? Wal-Mart, Sansone or both??? Can anyone tell me where Wal-Mart has occupied a store in the St. Louis suburban area for 23 years???
What if these bonds are "mortgage backed" ??? Can we actually demand to tear down a store it the TIF isn’t paid off yet and the bonds are mortgage backed ???
Lots of questions…not so many answers. Few details like this are made public…and the public hardly gets to ask any questions about these kinds of issues at all.