Surprising Stuff

 

The Lake Geneva Theater continues its redevelopment shrouded in financial mystery.
These are the issues in the requested modifications to the Theater grant.

  • It lets Shad Branen (new owner) borrow more money to do the project than the theater grant originally permitted.
  • It specifies (or changes) the lien order on the property making the Fox River Bank first, then SBA/US Government 2nd, and the City of Lake Geneva (taxpayers) last. What the hell?
  • It assures/clarifies that Shad Branen may also receive the last payment of $40,000 from the Grant while still having a lean from Fox River Bank and the SBA/US Government on the property.
  • It changes the default notification from the City of Lake Geneva to the SBA. What the hell?
  • It extends the required completion data and $100/day fine for non-completion from Dec. 2016 to Feb. 2017.
  • For agreeing to this the City is to receive $200,000 collateral stock, which is to be the first to be released as part of the loan forgiveness. (Note: in the document it said “Cash” not stock” but in the City Council discussion it was revealed that it was “stock and nowhere in the documents does it say from whom the city will receive it.) Why hasn’t the ‘stock’ just been turned into cash for the specific collateral purpose? What the hell?

If the city council approves these modifications to the grant agreement, then the city’s ability to withhold the last $40,000 to assure all requirements are met will be changed, and the requirement that the developer (Shad Branen) provide to the city any notice of default of any other financial institution providing financing for the project will no longer be required. Also the increase in the cost of the project decreases the future viability of the project and placing and increasing the property lien in front of the city’s lien further decrease the chance of recovering the city’s investment on failure of the project. So…what the hell?

 

The Town of Fontana emerges.
Fontana continues its emergence, from whatever sort of falling down ghost town it was fast becoming, back into a real vibrant community, handling its own problems, and looking to the future. Dan Pajeau’s wife was terminated from Fontana Fire Rescue roster this week. She hadn’t been called out for service in over a year. In the fire/rescue business an employee has to be called out in order to respond. No member of management reached out to contact Mrs. Pajeau about the termination. After all her years of service the termination was sent by regular mail. This letter was delivered during the same week that the Fontana Fire Department was supposedly trying to save its night staffing. They are lessening the roster to show the need after spending the last several years padding the roster to show improvement (at least with the non-existent dive team). Their Facebook page even goes so far as to state that if they don’t have night coverage then there might not even be a response if you call 911.

This is BS. There will always be a response, it just might not be Fontana responding. That’s just a sneaky way of putting fear into the public’s heart. It also shows, rather obviously, that the management of Fontana’s fire department is unable to retain employee’s, as well as unable to provide the necessary services for the community that it ought to be providing. With what the village pays for just day coverage, they provide service 24 hours a day, 7 days a week by contracting with a different private ambulance company, such as Medix, or by making the ambulance crews village employee’s.

Fontana Village published, in the minutes of one of their recent meetings, that the 24-hour coverage is costing roughly $35,000.00 a month with Paratech. That was from the September minutes. Firing quality trained employees, like both of the Pajeaus, is a lousy response, because both of them have dutifully pointed out so many things within the fire department that were deficient or downright fraudulent. Maybe the biggest change in this fire department needs to be made in top management. Chief Olson, the police chief of Fontana is passing on into his retirement soon. It would be quite acceptable for him to go there in good company, which might include that squirrelly insurance agent passing himself off as a judge and the fire chief. Nobody want’s Chief Olson to be lonely.

 

The Lake Geneva theater continues its redevelopment shrouded in financial mystery.
These are the issues in the requested modifications to the Theater grant.

  • It lets Shad Branen (new owner) borrow more money to do the project than the theater grant originally permitted.
  • It specifies (or changes) the lien order on the property making the Fox River Bank first, then SBA/US Government 2nd, and the City of Lake Geneva (taxpayers) last. What the hell?
  • It assures/clarifies that Shad Branen may also receive the last payment of $40,000 from the Grant while still having a lean from Fox River Bank and the SBA/US Government on the property.
  • It changes the default notification from the City of Lake Geneva to the SBA. What the hell?
  • It extends the required completion data and $100/day fine for non-completion from Dec. 2016 to Feb. 2017.
  • For agreeing to this the City is to receive $200,000 collateral stock, which is to be the first to be released as part of the loan forgiveness. (Note: in the document it said “Cash” not stock” but in the City Council discussion it was revealed that it was “stock and nowhere in the documents does it say from whom the city will receive it.) Why hasn’t the ‘stock’ just been turned into cash for the specific collateral purpose? What the hell?

If the city council approves these modifications to the grant agreement, then the city’s ability to withhold the last $40,000 to assure all requirements are met will be changed, and the requirement that the developer (Shad Branen) provide to the city any notice of default of any other financial institution providing financing for the project will no longer be required. Also the increase in the cost of the project decreases the future viability of the project and placing and increasing the property lien in front of the city’s lien further decrease the chance of recovering the city’s investment on failure of the project. So…what the hell?

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