06-11-2022, 11:53 PM -
(06-11-2022, 06:02 PM)Firstchance Wrote: Happy to see York County stand up and attempt to take action… State should as well if any of their tax dollars were invested. This project was never a Tepper funded project, it was a taxpayer project and in fact I wouldn’t be surprised to see a class action lawsuit to follow.
WELL.... Since I don't know for certain how the financing was arranged (and I suspect that no one else does either..), let me play the role of the devil's advocate.
For the purposes of this quick post, I'll keep it short and simple. There has already been a LOT of money spent down there. Two different reports I've read indicate that there has already been close to 200 Million dollars spent on that property and facility. Now it doesn't take a financial genius to understand that York County is CLAIMING that some funding was drawn inappropriately by Rock Hill and Tepper and "diverted" (???..) to a part of the project where it wasn't supposed to go. Maybe yes--maybe no. I don't know. I also know that Rock Hill backed out of their 'obligation', so no funds came from them. There have been no claims against the project by the state of South Carolina.
According to the text of the claim from York County, there was 21 Million used on the project for ??? (something.??) that was NOT an agreed expenditure. Maybe yes--maybe no. I don't know.
So First... Just between us PANTHERSFANZ guys, even if the claimed amount is valid (and there is a very good chance that this type of claim is being used as a "club"..), that means that Tepper has invested about 160-170 Million so far. So, I don't understand your statement about this being "taxpayer" funded..????? Really..????? Even if York County did "lose" 21 Million,... Where did the rest of the money come from....Tepper or ?????
And my last question is this: Who is the 'financial agent' for York County.?? Why would they sign off on a 21 Million dollar disbursement for the wrong line item.?? Would they not 'check' for 'work completed' or 'under construction' before disbursing funds.??
IMHO this is a "power play" by York County. YES... They are pissed. And so is Rock Hill. But not for that reason. They are pissed because their "cash cow" has been taken away. All of the influx of revenue to Rock Hill and York County has been shut down. Lost property taxes. Lost sales taxes. Lost property valuation increases. Lost retail sales. Lost building and construction permits and fees. A TREMENDOUS amount of lost revenue to the city and county. THAT'S why they're upset. Now they're trying to use 21 Million dollars as a "club" to force Tepper to continue the project. They want to reap the benefits without any expenditure of money or effort.
Once again, Just My Opinion--- Worth price charged.