JohnA: Gookin Can’t Kill LCDC
JohnA: I answered Dan’s comment on that blog about ‘killing LCDC’. When I noted the city would have to retire the agency’s debts first, with the city having to do so with only a portion of the money currently flowing to LCDC, Dan acknowledged that he couldn’t ‘kill’ LCDC but rather would ‘kill’ any future projects. That’s a wise revision because if LCDC ended tomorrow the money that would flow to the city would be about $1.5 million annually, instead of the $5 million a year coming to LCDC. That means a tripling of the debt expense for the city versus the agency that was created to retire it. That would be financial suicide for a city even if Dan’s constituents agreed via a bond issue to do it.
Question: Did you really think Councilman Gookin could end LCDC overnight, if appointed mayor in the event of a successful recall?