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re: Technical Analysis of Non-Recourse Tax-Increment Bonds in Reference to Lot 1 Bond // Mark Ladenson

Just so I understand, is the point of your post to question whether the planned refunding in 2020 can actually be pulled off; and if it can’t, to alert us to the looming “major implications” of the city having to make a balloon payment in 2020 to redeem the December 2017 loan of $25,265,000?

I ask because you make what seems to be a strong case for doubting that the refunding can be pulled off, but, except perhaps for your … Read more →

Technical Analysis of Non-Recourse Tax-Increment Bonds in Reference to Lot 1 Bond // Eliot Singer

[I know most people, including city officials without CPA qualifications, find finance difficult. Please try to take the time to read through the details, including looking at the linked bond prospectuses. Understanding finance is not only crucial for holding governments accountable for how money is spent—this should be a bipartisan concern—but in your personal financial management. How many of you keep a budget? Do you do your own taxes? Do you manage your own investments and savings?] Non-recourse Versus Full … Read more →

Comparables re Lot 1 Development // Eliot Singer

1) The East Lansing parking structure for Center City is going to cost ~$33,000 per space, according to the contractor.

The Carl Walker Parking Structure Cost Outlook for 2017 report shows construction cost per space of parking structures in various cities around the country. Detroit was $19,873, Chicago, $23,634, Cleveland, $19,085, Minneapolis, $20,818, to give an idea about midwest cities.

http://denver.streetsblog.org/wp-content/uploads/sites/14/2017/10/2017-Cost-Article.pdf

2) The development project in which Harbor Bay is involved that most resembles Center City in East Lansing … Read more →

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