JDA SUBMITS $1,026,654 BUDGET TO THE FOUR COUNTIES FOR FY17

October 31, 2016

Follow the money

JDA continues to hit the taxpayers of the 4 counties (Jasper, Newton, Morgan, and Walton) year after yearAlong with their new, amended, updated agreement with the 4 counties, JDA now submits a budget—which we all know each and every county commission will approve without comment or dissentTheir budget for 7/1/16-6/30/17 is $1,026,654.

See a copy of the budget here.

The taxpayers’ portion of the $1M+ budget is $716,847 plus $50,588 of collected taxes that now go straight to the JDA instead of the counties as originally promised.  Jasper’s part would be 10% of that amount.

Interestingly, the JDA budget includes taxes from JC Flex and Stanton Springs LLC, but fails to include taxes from JC Land Investment, LLC(These are all LLC’s supposedly owned/controlled by TPA.)  The 2016 Newton County tax bills for JC Land are $9,187.52.  These tax receipts should be added to the budget and thereby the borrowings from the Bank of Madison reduced. 

Look at the expenditures—

  • Bank of Madison principal payments and interest payments are almost equal at $68,000 and $67,000 respectively
  • $25,000 for accountant fees—to post 4 checks a month and attend every JDA meeting?
  • $50,000 in attorney fees
  • $30,000 to help maintain “common areas”, and this is only 25% of the cost. $120,000 per year to maintain the parkway and entrance?  Who is getting this contract?
  • $5,000 in “land exchange fees”. The taxpayers have been screwed big time in land exchanges with TPA in the past.  Can’t wait to see what is exchanged this time.  JDA will pay all the exchange costs including surveys, etc.

One good thing, the JDA will finally actually be audited.  In the 2015
financial report done by the JDA accountant, it was finally noted that $1 Billion of bonds had been issued.  Nothing like exposure to bring out the truth.

Economic Development is a Secret

Economic Development is a Secret

There will be other news this week from JDA.  They will have a special called meeting—24 hour notice—tomorrow morning at 8:00AM to discuss (and approve) the “first amendment of the inducement agreement with Baxter/now Shire”. 

More bonds?  More tax incentives?  It is all a secret until after it is agreed upon by the JDA board. 

Open your eyes people, and open your wallets.  JDA is great at making deals that cost you money.

 

TWG

Citizens, be informed and stay informed!  Only by being informed, can the citizens understand what is being done and talked about, and then press our officials to make good decisions for everyone in Jasper County.  That is our goal with the Taxdogs blog.

www.taxdogs.wordpress.com

www.facebook.com/taxdogs

 

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2 Responses to JDA SUBMITS $1,026,654 BUDGET TO THE FOUR COUNTIES FOR FY17

  1. Preposterous says:

    BOHICA!

    JDA – a perpetual money pit.

  2. Jasper County About To Be Skint' Again says:

    Thanks for taking the time to keep Jasper County update all the shenanigans going on with JDA and Stanton Springs. Due to the diligent work of TWG, hopefully more citizens will take wake up and take notice of the ever-increasing financial squeeze Steve Jordan working within JDA and though other bankers has conspired to entrap Jasper County in for decades to come.

    There was a time, when maybe, with the support of Mr. Jordan, Jasper County might have been able to shake off the JDA debt shackles for good. Instead Mr. Jordan chose to remain – ahem – neutral in the affair, because you see the agreement can’t be changed – EVAH- unless of course the change is for the benefit of bankers and JDA.

    The only options left Jasper County at this point is either to close our eyes and numb our minds to our ongoing financial rape or seek to replace Steve Jordan with someone who works for the taxpayers of Jasper County and not against. Good luck with either.

    http://themonticellonews.com/four-county-authority-says-no-to-jasper-p2608-96.htm

    At their meeting on November 7, Jasper County Commissioners authorized a letter to the Joint Development Authority asking that:

    •Jasper County be allowed to withdraw from the JDA.

    •Delay Jasper County’s contributions to the authority for a period of 10 years.

    •Sell a portion of the real property and use the proceeds to reduce the outstanding debt.

    The letter responding to the commission’s request came this week from Kevin Little, vice-chairman of the Joint Development Authority. Mr. Jordan recused himself from the discussions and the vote, according to Mr. Little.

    “Speaking for the directors of the Joint Development Authority with the exception of Mr. Jordan, we are disappointed that Jasper County found it necessary to make such a request. The JDA’s Stanton Springs project is a major public investment by the four sponsoring counties. Each county at the inception of the project independently resolved to share in developing 1,576 acres located at the strategic crossing of U.S. Hwy. 278 and Interstate 20 at exit 101.

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