Letter: City's financial concerns weigh heavy on citizens
Tuesday, September 11, 2012 4:38 AM
I want to try to refresh everyone's memory in the following manner:
Think back to 2008, 2009, 2010 when the United States went into such financial turmoil. Remember how many of the big banks and financial institutions that were made accountable for the false advisements that they made?
People who were talked into loans that they could not afford, eventually lost their entire investment.
One example I want to bring to mind was a woman about 50 years old, who finally got some money together for a down payment for a home.
Going to the loan officer at her bank, they were to setup the home mortgage loan if possible. The home that she was going to buy would need an approximate $10,000 down payment plus good credit and be a responsible person.
She met all these qualifications no problem, but when it came to her annual salary, she was only making $57,000 a year. The paperwork showed that in order to buy something she could handle, her annual salary would have to be $75,000.
As we all know, there were a lot of dishonest influences in these kinds of loans. The loan officer got her mortgage pushed through. She got her house and in a very short time lost everything!
This was just one of the thousands of people who went through this same type of loss.
I'm relating the above to try to put across a point to the people of Spring Grove.
Please stop and realize that the city of Spring Grove has an office or commercial building which they have purchased from the EDA to let the EDA off the hook and out of their awkward situation. This has created additional expense for taxpayers.
The city has a swimming pool that we all know has been a disastrous investment of taxpayer dollars.
A loss every year from the standpoint of interest paid on the loan and a loss from the operating expense. Will we ever get out of debt from this swimming pool and realize some relief on our real estate taxes? I DON'T THINK SO.
Now we have a tremendous expense regarding the highway project through our Main Street in Spring Grove.
So far, we have not really found out positively what expense our business people will have or the real-estate tax increases that all the taxpayers of Spring Grove will have.
Long before this, the figures should have been put together and presented to the people for a referendum vote.
Why are the people on the council being told, "Do not go to referendum" over and over by their advisor?
It appears that they do not want the city residents to have any input regarding the expense of this project.
With all the above mentioned expenses that the city presently has, along with this Highway 44 project and being told "no referendum, no referendum," I'm beginning to feel like the lady who only made $57,000 per year but was told she could really handle a home purchase that was going to need an income of $75,000.
I think we need all the citizens of Spring Grove to think very seriously before it's too late. We need to have a referendum vote to delay this project in order for the people to understand and express their feelings.
If you wish to know more about the Concerned Citizens Group, contact Bruce Poole at the motel at 498-3271.
resident of Spring Grove