Times: Hercules eatery got city business loan nearly five times the maximum, records show
— by Jeffrey Wisniewski — 29 October 2009 — Comments Off
The information in this report — the loan amounts, loan forgiveness, etc. — is not new (it was originally reported in June when the City Council approved the matter), but the fact that the CEO of the company (and daughter of the City Manager, founder of the company) with a multi-million dollar portfolio, and is Chief Consultant for the Affordable Housing agency (as contractor), needs a part-time job as server for the local pub is endlessly funny. You are interested in an affordable housing loan? Let me call the Chief Consultant; she is currently working the early shift clearing tables before the lunch rush.
On the matter of the loan itself, I do believe it is necessary for the City to actively invest in the Waterfront in order to gain, regain or create viability in the district, which simply does not exist in the current economic climate. Whether or not there is room for improvement regarding transparency and equity, of if there is a conflict of interest in that the lessor was provided a job by the lessee following the loan being granted, is worthy of discussion (or investigation).
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