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The Prescott Daily Courier | Prescott, Arizona

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10/16/2013 6:00:00 AM
Prescott Valley council to hear talk from new economic organization
The Daily Courier

PRESCOTT VALLEY - Representatives from a newly formed regional economic development entity will get the ear of the Town Council Thursday.

The Greater Prescott Regional Economic Partnership prepared a 39-page report in advance of the work/study meeting, in which no action will be taken.

The executive summary of the report states the Prescott region "has a strong competitive advantage" in several industry clusters, including manufacturing, defense and security, aviation and aerospace, transportation and healthcare.

It states the civic and business leadership in the area recognizes the importance of regionalism, leading to the creation of the partnership.

The council meeting will start at 5:30 p.m. and take place in the library auditorium, 7401 E. Civic Circle.

Also on the agenda:

• Discussion regarding the sign replacement project of the Arizona Department of the Arizona Department of Public Safety.

• A talk on the hot metal crack seal contract.

• A discussion regarding a false alarm contract.

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Reader Comments

Posted: Thursday, October 17, 2013
Article comment by: Another Perspective

To "To Another Perspective"...I beg to differ, my numbers are NOT way off and come from a 3rd party audeted document ( 11-12 audit page 11). This document was also reviewd by the government finance officers association and clearly show that the numbers I gave in my first post are truthful, so DON'T call me a liar! I am not cherry picking items but responding directly to alegations you made about bond debt and interest payments and cash on hand.

I dont like everything this town does but believe you may have an axe to grind and are giving out false information, that's why i did my own research. Please tell me what document shows we have 190 million in BOND debt and arent even paying interest? I will happily jump on your bandwagon if you show me the documents (and page #s please) that you say are available. Please, educate me, especally my spelling which i know is bad!

Posted: Thursday, October 17, 2013
Article comment by: Another Prescott Valley Resident

To: another prospective. The town officials will answer any questions you ask,however they will not offer up answers, or tell you the right questions to ask. Unless you go in educated and informed, you will leave with a positive feeling, and a rose colored picture of the finances. It is like an onion the more layers you peel back the more it stinks. Remember these people are professionals,they are trying to protect their jobs. They have made many bad decisions, and we will one day have to pay the price. I think you are only getting half the picture, all of our bond and contractual obligations are overwhelming. You are doing us all a disservice by blindly following the PV elite.

Posted: Thursday, October 17, 2013
Article comment by: Noel Breen

I cannot say that I agree with Mr. Steele on many matters. But he is correct in his comments about the 20% tax rates affecting the decisions of many businesses to locate to Arizona. There are 2-3 mid sized hospitality operators I know of, that passed on Phoenix and Tucson as their operational base due to taxation being higher than their ultimate location as an example.

Posted: Thursday, October 17, 2013
Article comment by: To another Prospective

Your numbers are way off, I'm not even going to try to educate you, but the town has amassed over $190 million in bond debt, remember the Tim's Toyota center debt , which we are on the hook for is over $60 million alone, Add the $20 million for the library, the $3 million for the old fair ground , the list goes on and on. The town during good times used the bonding alternative to build this town. There was cleaner ways to do it, but unfortunately instead of spending tax money wisely, the made deals with the devils, committing our uncollected income for years in the future. Your not telling the whole story. This is all in their financial report , and has been reported in the Courier. If you are going to respond, at least tell the truth. You need to look at the whole financial picture, not cherry pick certain line items. Now put down that kook-aid, and re-read all the numbers. We are in a major lawsuit with Allstate over default on the Tim's center, explain that one away.

Posted: Thursday, October 17, 2013
Article comment by: Simply predictable

This will turn out just like every other economic development organization attempt. They'll ask for a lot of money from all nearby cities under the guise of "regionalism" and promise to sell what we've got to prospective businesses. In the end, nothing big will happen. It won't because what we've got is a lot of retirees, poor education, poor infrastructure, water problems, and a labor force skilled in things that big money ventures are not interested in.

Posted: Thursday, October 17, 2013
Article comment by: Another Perspective

To Read Between the state Prescott Valley has "bond debt that they are not even able to pay the interest on," that "the town is down to its last dollar," and to obtain a copy of the latest financial report. I did as u suggested and looked at there last audit:

Acording to this report, the town paid off 4.7 million in principal and interest on their debt that year and had 36.7 million in combined fund balances (11-12 report). I believe this report is audeted by a 3rd party CPA for acuracy, so it doesn't seem to match with your statements.

I think PV wants the jobs, Prescott only seems to want the tourism.

Posted: Wednesday, October 16, 2013
Article comment by: Frank Aimes

Maybe they can make more water to support all that euphoric growth. Organization, hmm, sounds like union pie in the sky promises, sell your soul and be one of those that built this country, not like the rest of us who watch them do it just for us. Thanks. Beware of organizations making big promises and bearing gifts.

Posted: Wednesday, October 16, 2013
Article comment by: To read between the lines

Oh no, someone has been paying attention, don't let the good ole' boys ,or the council groupies find out where you live. Wait till the brain dead masses call you a hater because you speak the truth. The town is in grave financial straights, no doubt about it, but they will sugar coat it and sell it to the masses as a good thing. Young people of PV, wake up look at your leaders, do you really think they have your best interest in mind. They don't want manufacturing, they want roofs and retail. That brings sales tax to the town. Manufacturing brings $20 hr jobs, where they don't get a cut from, so they aren't interested. The Town may tell you they are, but the proof is in actions not words. You have elected a group of short term thinkers,who have no plans for our families for the future. While roofs, fast food, and Walmart look good on paper, they are a recipe for financial disaster. At least we will have Walmart to spend out food stamps in.

Posted: Wednesday, October 16, 2013
Article comment by: Read between the lines

Yes this area may be ripe for growth, however the prospective investors come into Presott Valley and look at the administrations and the financial health of the town. They will not spend money and relocate to a town with the current administration full of debt and a town which is down to their last dollar, (latest PV financial report, ask for a copy it's free).The town has decades of developer agreements to fulfill,as well as bond debt that they are not even able to pay the interest on. That is why the principle has gone up without any new loans. The town relies on sales tax for revenue, but has contracted to give it away for the next, 5, 10 and 15 years on various sites. Even though they were told by the courts this practice was illegal, and they shouldn't contract away uncollected tax money,So yes the town maybe ripe for growth, but we will just be getting the retail and the fast food, the surrounding towns will be getting the substantial manufacturing jobs. We are now living the legacy of the bad decisions made by out Mayor, council, and town manager.

Posted: Wednesday, October 16, 2013
Article comment by: Not on the inside.

So...Greg Fister for the town and Gary Marks for the PVEDF are not enough? Yet one more tax paid waste of money. When will the people of Prescott Valley wake up I wonder.

Posted: Wednesday, October 16, 2013
Article comment by: Tom Steele

Economic regionalism needs a boost from the governor and legislators. The biggest reason Arizona is a poor state today is basically it is not friendly to new industry through its taxation policies. Arizona taxes industry's assets at 20% per year on its purchase price making it a "killer" in bringing good paying year around jobs to rural Arizona. Few business beside retail and warehousing can overlook the high taxes under state law. This must be changed if we are to increase our tax base and provide proper funding of our K-12 schools without adding taxes to current residents. Does Cattle, Cotton and Copper still control our legislature?

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