Small Business Resource Center questions

In January, an amendment was made to the Small Business Resource Center lease agreement, resulting in an additional $250,000 being added to the original purchase amount. It’s been speculated that around $500,000 of taxpayer money was involved, purportedly labeled as grant money to distinguish it from regular tax revenue. However, many citizens find this assertion unconvincing, as grant money ultimately originates from taxpayer funds from a different channel.

With the county now delving into the commercial real estate lending sphere, there’s a growing demand for transparency regarding the returns on our investment. Many taxpayers believe that we’re entitled to a 10% return in this market, coupled with a gradual reduction in the principal amount over the next 240 months until the loan is fully amortized. Furthermore, there’s a call for a forensic audit on this investment to ensure that taxpayer money is being spent judiciously. This audit should address several key questions:

1. Who was involved in the purchase of the building? Was it solely the county or were there other parties involved?

2. How much capital towards the purchase?

3. What was the financial contribution of the other partner(s)?

4. Who bears the responsibility for ongoing maintenance expenses?

5. In the event of the building’s sale, how are the proceeds divided among the owners?

Ensuring transparency and accountability in such financial transactions is paramount to instilling confidence among taxpayers regarding the management of public funds. did the county contribute

Carl Hoelscher Bishop