By New Times
By Connor Radnovich
By Robrt L. Pela and Amy Silverman
By Ray Stern
By Keegan Hamilton
By Matthew Hendley
By Monica Alonzo
By Monica Alonzo
Academics such as Heywood Sanders, a professor of public administration at the University of Texas at San Antonio, have long been critical of city-owned convention hotels.
"The failure of optimistic hotel performance forecasts to materialize carries a number of risks for cities and their balance sheets," Sanders says in an article in the June issue of Government Finance Review, the magazine of the Government Finance Officers Association.
Those risks, according to Sanders, include injecting more cash for money-losing hotels, creating an oversupply of new hotel rooms that could reduce occupancy rates, decrease daily room rates and reduce sales tax collections.
It's obvious that the Phoenix City Council is ignoring these dangers in a bullheaded rush to own and build a hotel project that private analysts reject as unprofitable.
It is exactly this type of arrogant behavior by elected officials that led to the passage of Proposition 200 nearly 15 years ago.
Now is the time for the public to assert its rights, file a lawsuit and hopefully obtain a court order that will force a public vote on the convention facility/hotel.
That thud you just heard was Mayor Gordon falling out of his chair.
Sheriff Joe Arpaio's real estate empire continues to expand. Maricopa County records show that Cash 'n' Go Joe plowed $100,000 in cash on May 3 into a vacant lot in Fountain Hills. The property is adjacent to a two-story office building he and his wife, Ava, purchased in 2002 for $440,000 in cash.
The latest investment continues Arpaio's real estate strategy of purchasing commercial property for cash rather than leveraging his real estate investments by borrowing money at historically low interest rates.
Arpaio's now invested $790,000 in cash into three real estate deals since 1995. Not bad for a guy who makes $78,000 a year and collects another $65,000 from his federal pension as a retired DEA agent.
As I reported last week, we don't know how much more money Arpaio has invested in another half-dozen commercial and residential real estate properties in the Valley because he has requested that the County Recorder's office seal his records from public inspection.
The records were redacted because Arpaio, the self-proclaimed "toughest sheriff in America," says he's worried that someone might want to kill him. What a wuss! Especially since he bragged to me recently that he's never really felt threatened.
I asked Arpaio in a June 22 letter to voluntarily release his real estate records -- with his personal address redacted. But he refuses to do so. Instead, Arpaio's media mistress, Lisa Allen MacPherson, called up KTAR radio host David Leibowitz on July 2 and lied about which records have been provided to me.
Leibowitz asked MacPherson if the sheriff has provided copies of all of his real estate records to New Times, and MacPherson responded with a doozy: "Yes, we have."
Wrong! She must think the citizens of Maricopa County are idiots. Guess so. They keep re-electing her elderly boss.
Arpaio had some of his property records with him during my June 1 interview. I asked at the time if I could copy the records, and MacPherson and Arpaio both said yes. But when I requested them in writing on June 22, the sheriff's office clammed up.
We're still waiting for Joe to cough up the records so we can report to the public the total amount of cash he has invested in property. MacPherson told KTAR listeners that she doesn't think the media has any right to these records.
"These aren't things that are bought by county money," she told Leibowitz. "This is personal, personal money."
The last time I logged on to the County Recorder's Web site, my personal property records, liens, first and second mortgages, and affidavits of value were readily available for all to see. These were all purchased with my "personal" money.
Why shouldn't Old Man Joe be in the same glass house as the rest of us?
Unless, of course, he's got something to hide, and I don't mean just his home address -- which is 12808 North Via Del Sol, Fountain Hills.
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