The Meridian Star reports the Meridian City council cut monthly payments to Jackson developer from $10,000 per month to $1 per month on February 7:
"MERIDIAN — The Meridian City Council voted unanimously Tuesday to cut their monthly payment to David Watkins, project developer of Meridian's new police station, by $9,999 until work resumes on the project.
The order, made during the Meridian City Council meeting Tuesday morning, included a mutual agreement between the councilmen and Watkins to reduce the project developer's monthly consultant fee of $10,000 to $1, effective Tuesday.
The council voted on the issue without discussion.
"We agreed with him that since nothing was happening, that we were going to reduce that agreement until he got going back with the project and some other things started happening around town," Ward 1 Councilman Dr. George Thomas said after Tuesday's meeting.
"Part of the agreement with him was that he was going to help the city developed some projects. Since he's not going with that project right now, we both agreed that we would reduce that (Watkins' fee), and once we get going with some projects there's a possibility that they can be renegotiated," Thomas said.
Construction on the project has been halted and isn't scheduled to resume until March 15. Watkins said the project – which entails renovating an old grocery building on 22nd Avenue into a new police station that will serve the entire department – has taken significantly longer than expected to finance.
Watkins said last week there have significant delays in closing on the new market tax credits, which are an important aspect of the project’s funding. He said the original closing date for the tax credits was expected to be Dec. 15, 2011. The date has been pushed back, he said, because of problems with coordination between the numerous entities involved with the tax credits and because it took longer to than expected for the tax credits to be allocated for the project.
The project developed stressed that the project is not unfunded, there is just a delay in accessing the funds. He added that the delay will not cost the city anything.
Meridian hired Watkins Development in October 2010 to work as a consultant for the $10,000 a month fee with a one year contract that is automatically renewed each year "for a number of years", according the agreement with the city. The contract with the city states that $10,000 a month is a 50 percent reduction on the firm's usual fee.
Thomas said the $1 fee was proposed to keep Watkins "on line" with the city.
"We still want an agreement with him, if he's willing to work with the city to develop some things," Thomas said. "But, until some things start happening, we just felt basically to just have an agreement with him; the $1 fee was just a token amount to keep the agreement going without any significant amount of money in it." Article
The newspaper's editorial board hailed the decision:
MERIDIAN — Kudos to members of the Meridian City Council for voting this week to stop paying Watkins Development their $10,000 monthly consulting fee until work resumes on city projects...
With the delay, city officials were left with few options. The good news: they're not having to pay for the monthly lease on building. They won't make a payment until the building is completed.
The bad news: city police continue to wait for a new place to operate. And up until last week, Watkins was still earning the $10,000 a month, seemingly for nothing according to some councilmen.
"We expect to see at least something, new plans for other developments around the city or something," Thomas said. "It's not like the city has a huge surplus where we can just pull money. Times are tough. Our police are ready to move in..." Editorial
Friday, February 24, 2012
Meridian cuts $10,000 monthly payments to Watkins to $1
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44 comments:
good for them.. i like David Watkins and have no clue how econ. development and tax credits work but it seems like a recurring theme with him... so if hes not working no pay.. one would think
Always over budget, never on time, financing problems guaranteed ... Watkins
it seems to me that the wheels on David Watkins wagon are falling off...has he ever finished anything that he has started?
9:17 do you live on Neptune with Hob? Check out the King Edward and the Standard Life. DUH.
This story is old news, and posted just so the haters can bash a home town hero.
Grow up, or do something rather than simply posting "ugly" to give your anonymous, timid trolls red meat.
24-7=17. 17 days is old news?
Charlie you've got disloyalty confused with dissent. Watkins may be a 'home town hero' to some but he ain't nearly one to all. If you don't care for the trolls then don't feed them.
11:58....Hell yes. Here is a 17 day old story YOU posted. Is this old news?
http://kingfish1935.blogspot.com/2012/02/bert-blows-it.html
Here is a 17 day old story YOU posted. Is this old news?
The depth of your anality is never a surprise. Start your own blog Harpy.
I never cease to be amused by people who brag about posting under their own names.
Good for them to have jobs where they can't be fired for expressing their opinions.
Not all of us are so lucky. I guess we should just shut up.
Mr. Mitchell, I just found out about the story when I was searching the Meridian paper about something else. No one in Jackson knew about it so to them it is news even if 17 days old. Then there is the fact that he just got $8 million in bonds for Farish Street, approved by the city council. That means its our money in some fashion or form so a story, even if 17 days old, about someone we are providing a bond package to is still news over here.
Keep up the good work, KF.
C Mitchell, it is sad that a reporter from way back feels compelled to come onto a website and spit at the folks who read the articles.
And you use your words, may I suggest that you "grow up". It seems obvious by your post that Watkins is a hero of yours. No problem. But signing on and acting like a child really is quite sad.
The readers here did not know about this story. The owner of the blog saw it and shared it with us. That's kind of how this works. The story is quite relevant. It would be relevant in Feb, April or November 2012.
Nobody knows that is really Charlie Mitchell. Why would he waste his time coming here to dog KF about something being old news? Doesn't add up.
If the morons that read this "blog" read the Clarion Ledger, they would have read this "story" two weeks ago.
Good Lord.
RE: February 24, 2012 4:00 PM
That isn't Charlie Mitchell.
@3.58, too true. Back to the subject at hand.
That contract has been in place since Oct 2010. Oct 2010-Feb 2012 @ 10k per month = 170,000.
his contract "automatically renewed each year 'for a number of years'". Oh my Lord. Who in the right mind would set up a contract like this. There should have been a stipulation in there regarding $ pd vs work accomplished.
Looks like Meridian city counsel did a good job in plugging this.
Being the "in depth crack reporter" you claim to be, please enlighten us with your conversations with Mr. Watkins in response to this action.
I am sure he has some clarity on this issue, and what it entails, and am sure you have called him for his read on it.
Right?
*** YAWN ***
ZZZZZZZZZZZzzzzzzzzzzz
OT: I'm sorry for interrupting the bitching whining asshole @ 5:14 PM but this is great.
I've always enjoyed Vicksburg's Charlie Mitchell's articles in the Ledger. They balanced an awful lot of bull shit with a modicum of sanity, or so I thoughgt. However, if the above comments are a summation of the Charlie Mitchell of today, I stand corrected. He's just as much a loon as the rest of the chirpers behind the black, iron fence downtown.
9:17 to Charlie Mitchell... and DUH! back at you x's 2!! Let's see.. the King Edward...rehabed with TAX PAYER $$$$..maybe 56 Million of them(?) now, the King sits empty, operating at a HUGE loss and home to a few peacocks in zoot suits and homeless bums rolling in bird poop...and on to the Standard Life Building..another gem in the crown of David...EMPTY, NO TENANTS and NO FRAPPIN INCOME for debt service... it is what is is Charlie...
Looked in the CL online, didn't see any story about this. Of course, I could be blind.
2:59 I live in the Standard Life. What are you talking about? The place is fully leased, as is the King?????
Fully leased you say 3:35 PM ? Do you have ANY idea what the debt service is on FIFTY-SIX MILLION DOLLARS? I wouldn't think that a hand full of art deco apartments would even cover the light bill for that building no matter how cool the apts are. You have taxes, maint., security, utilities, insurance and not to mention P & I on that 56 millon...geez....
"now, the King sits empty,"
Your words, not mine 3:48. If you would lie about that, you would clearly lie about your knowledge of the finances of this project.
Ok turbo...(4:46 pm) "lie" doesn't cover normal expences such as lights, gas, water, insurance, taxes, P&I (thats your payment on the MONEYans interest), security, maint and on & on...just who in the hell do you think is paying these things? you? oh, I get it, you think it's free!!! fill up a dozen or so apts. and poof! all is well! must be magic huh turbo?
Don't forget February 26, 2012 6:24 PM that Watkins is getting Jackson's 18.5% portion of KE/SL generated sales tax dollars KICKED BACK to him for TEN YEARS.
So when someone downtown blows smoke about all the sales tax dinero the KE/SL is generating for Jackustan you know they are talking right out of their bungs.
BFD.
Talking to yourself little boy at 6:24 and 6:55. They both rock.
Answer me this....are you saying our city and state would be better off without the KE/SL?
Little, simple minded pissant.
Thank you February 26, 2012 7:34 PM Simpleton. Can always count on your ilk.
Answer the GD question 8:47. My "ilk" wants to know.
Funny, but it took KF reading an out of town paper a couple weeks later to alert me to the notion the CL wrote a story. We can only hope they stick around, the last thing we need is a tabloid hoping they can take their place. That would be the only reason for their existence at this point.
"Funny, but it took KF reading an out of town paper a couple weeks later to alert me to the notion the CL wrote a story"
too funny
Actually I can't find it in the CL. Mabye I'm blind.
The column was small, the story smaller, and was in the left hand side of the paper in the news across the state part. Probably never made to online version, and you are probably too cheap to subscribe.
In other words the story was buried. Damning revelation, if true, considering the numbskull above taking KF to task made it sound as if this story about the latest Watkins mess would be recognizable to all C-L print readers.
No 4:55. It was a factual, short BFD story. Grow up. It said it all, and referenced to Meridian newspaper.
Good to see that you are no longer masquerading as Charlie Mitchell though you remain a fraud for doing so in the first place.
I have nothing to do with Charlie Mitchell, but you have still not answered the GD question. Is our city and state better off WITH or WITHOUT the KE/SL?
Little boy.
Taxpayer-funded zoos and convention centers across the country are losing money. The Oregon Zoo and Convention Center are no exception. The Portland Business Journal recently cited an independent review conducted by Tampa-based Crossroads Consulting showing the Zoo and Convention Center contributed to a nearly $19 million loss last year spread collectively among the Zoo, Convention Center, Centers for the Performing Arts, and Portland Expo. The Convention Center was responsible for the bulk of the loss—$10 million. The venues lost roughly $16 million during the prior fiscal year.
Losses associated with the Oregon Convention Center are no surprise. After two decades in which convention centers across the country have been improved, expanded, even completely redone, a predictable pattern has emerged—despite expensive upgrades, convention centers lose money. A December Wall Street Journal article reports that from Boston to Chicago to Phoenix, convention center upgrades have been sold to the public as necessary to attract more business and generate significant economic activity. In most cases, the optimistic projections used to sell new and improved convention centers to taxpayers have failed to materialize. Regardless, city officials keep building bigger, better facilities and related accommodations even though attendance continues to dwindle.
Did the dude EVER answer the question?
4:55 we are still waiting for your answer.
Oh, he meant newspapers, I heard about those. My grandpa told me about them once. I just never see them and didn't know if they still made them. Thanks for letting me know we actually have one in Jackson, I'll have to check it out.
I need to wake up. Why am I giving the citizens tax dollars to such an irresponsible group; Watkins Development.....nevermind " Isa dont wanna make massa's granbaby upsed!"
WAKE UP! Jackson/Meridian, MISSISSIPPI
"Bend over DW
Here it comes!!!
It's gonna hurt!!!!!"-
Watkins cellmate 2013
Another Watkins' project and another major mess. Why am I not surprised.
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