BOMBSHELL: CITY OF MONTICELLO TO GET $9.5 MILLION USDA LOAN AND SET UTILITY RATES TO INSURE COVERAGE OF DEBT SERVICE

January 3, 2018

If you want to know more or have comments about this loan and corresponding debt and possible utility rate increases, attend the public hearing on Tuesday, January 9, 2018 at 5:30PM at City Hall.

Last February, City of Monticello Mayor Pro Tem, Stone Workman, contacted USDA (where he previously worked as State Director), about a loan for the City to purchase land and develop it as a water site.  The project was to take effect in stages—first purchase the land and then run water lines and put in a treatment plant.  However, this plan quickly changed when USDA informed the City only loan money would be available for that proposed plan. 

 According to documents we have obtained, the City will get a $9,500,000 grant/loan with $4,000,000 being a grant and $5,500,000 being a 40 year loan with annual payments of $201,057.
  

Additionally, the City assured USDA in writing that they would pledge the revenues of their combined utility system–water, electric, gas, and sewer—to pay the debt.

The City recently obtained a $3,236,000 20-year loan from GEFA to purchase the “Feldspar wells” and Mine Road property of 705 acres.  The plan appears to be to obtain the USDA loan to pay off the GEFA loan for the property and then run water lines from the site to the City. 

We have approximately 600 pages to review, but we will keep you informed of other information we find in the documents—including the inflated population projections to “show” that water will be needed in the next 30 years.

Stone Workman uses his past employment with USDA to help cities, counties, and businesses to obtain loans from USDA.  Recently he has worked with John McDonald of JWM Ventures headquartered in Las Vegas, NV.  At a meeting with the Brunswick City Council, the newspaper reported, “Workman said his expertise is acquiring financing for the company’s projects.”  They quoted Workman as saying, “The USDA has a loan guarantee program, and there are new market tax credits and other federal, state and local programs. That’s what my specialty is.” 

 Read entire article here:
http://jacksonville.com/news/georgia/2015-08-19/story/developers-eying-brunswick-downtown-hotel

We are assuming  Stone Workman will forego his usual consulting fee for obtaining the USDA loan the since he is Mayor Pro Tem of the City of Monticello.

Stay tuned.  There is a lot more to come!

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.

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4 Responses to BOMBSHELL: CITY OF MONTICELLO TO GET $9.5 MILLION USDA LOAN AND SET UTILITY RATES TO INSURE COVERAGE OF DEBT SERVICE

  1. It's not rocket science says:

    When will our elected officials figure out that high taxes and utilities are not helping the city and county to grow? More and more people are forced to move and find a less expensive area in which to live.

  2. Watching with despair says:

    The demand for more never stops.

  3. Jim says:

    According to https://datausa.io/profile/geo/monticello-ga/#housing there are 925 households in Monticello, so the annual payment of $201,057 will mean the city will need to increase your utilities by $217.36 per household to cover this payment. My rates are already high enough especially summer electricity plus add to that the expensive power cost adjustments. Already looking to move elsewhere outside of Jasper Co. so this is just more motivation to do so.

  4. Questioning says:

    I’m Still always amazed at the deep corruption that is allowed in our Government. How
    Can one person have the ability to have so much power? Or, did he have help?

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