Sunday, September 10, 2017

Questions for High Point's City Counsel, BB&T and Nido Quebein

"High Point University President Nido Qubein announced to a crowd estimated at 900 people ...that he had exceeded his fundraising goals for a new baseball stadium and surrounding amenities in downtown High Point.

Where is the documentation showing how much was raised, 
what the money is currently invested in, 
and when the monies are to actually be transferred to the initiatives bank account?

In addition to finding out Qubein had raised $50 million in development from private donors, attendees learned that Greensboro developer Roy Carroll had agreed to build a hotel near the planned stadium and Blue Ridge Companies was committed to building 200 apartments as part of the project.

Roy Carroll likes the smell of taxpayer funded subsidies
for his business ventures,
and has taken advantage of Greensboro for millions
after paying off most the Greensboro's City Council with campaign contributions

Roy Carroll is a crony capitalist parasite upon our community's taxpayers

If that weren't enough, later in the 90-minute-or-so presentation, BB&T Triad Regional President J. Cantey Alexander said the bank had committed to a 15-year, naming-rights agreement on the new stadium. Alexander would not reveal the financial details.

Where any financial details provided?

Isn't Nido Quebein on BB&T's Board of Directiors?

Doesn't High Point University owe BB&T more than $250 million?

Qubein presided ...a presentation that at times seemed directed at potential opponents on the Guilford County Board of Commissioners as much as the public.

Nido wants the rest of Guilford County to pay for Roy Carroll, Blue Ridge's, BB&T's
and whomever else has some skin in the profitability of this taxpayer funded venture
in High Point, where most of the rest of the County do not venture 

Qubein spoke directly to the "six or seven" commissioners he said were in attendance that the $100 million in combined private projects and donations would be lost if the commission voted against allowing High Point to use extra tax revenue generated in a 649-acre zone around the stadium be used to pay off stadium debt.

Who's on the hook if the "extra tax revenue" doesn't materialize Nido?

Probably not Nido

Probably the taxpayers those "six or seven" commissioners represent

How about a written guarantee the monies will be repaid if the "extra" tax revenue
doesn't show up?

Anyone suggest or see one of those?

"Help us, or kiss that $100 million goodbye," Qubein said, speaking to county commissioners, who have yet to vote on the issue.

Has anyone seen any documentation of where the $100 million is?

Ever heard of George Weiss and Say Yes to Education?

Qubein argued that if the project fails, High Point, not Guilford County, would have to foot the bill.

Where does it say High Point will "foot the bill" in writing
and passed by High Point's City Council?

Several times, Qubein chastised "doubters," citing the beautiful surrounding HPU facilities built thanks to fundraising efforts since he was hired in 2005.

How much of the HPU facilities built funded by debt?

How much of the HPU facilities have actually been funded by donated money so far?

Where is the money targeted to pay off HPU's debt to BB&T presently located, 
what is it invested in, and what costs are associated with managing the money?

The HPU president said only 26 percent of the approximately $135 million project would come from public funds...

Show us the $100 million in hand

Samet Corp., the contractor for current minor-league baseball stadiums in Greensboro and Winston-Salem, was selected in June as the design-build contractor for the 5,000-seat stadium.

Samet, the big campaign contributors

On May 17, Qubein told a large gathering at High Point Country Club that he would raise $38 million by Sept. 15 for a park, a playground, a children's museum, an educational cinema, and an events center — all of which would be donated to the city for public use.

How much will the carrying costs be for the City once Nido's 'gifts' 
are given to the City of High Point over the next 20 years?

...Qubein added declining property values in High Point as a major reason for county commissioners to support the stadium plan by approving the plan for stadium-area tax revenues to be earmarked for paying off stadium debt.

Is Nido worrying about HPU more than High Point and Guilford County's taxpayers?

"We must stop this decline now," Qubein said before turning his attention to county commissioners. "All the pieces of the jigsaw puzzle are together -- except your affirmative vote."

The presentation included supportive addresses from Blue Ridge CEO Chris Dunbar, Carroll Companies Chief of Staff Amanda Haege, Long Island Ducks (Atlantic League) owner Frank Boulton, International Market Centers (furniture showrooms) CEO Robert Maricich, former Greensboro Mayor Jim Melvin, Winston-Salem Dash majority owner Billy Prim and High Point Community Foundation President Paul Lessard.

High Point Community Foundation President Paul Lessard
was knee deep in the Say Yes to Education scam
along with Greensboro Community Foundation President Walker Sanders

Lessard and Sanders promoted bogus projections to Guilford County parents, students
elected officials and stake holders, and made fools of many
by being involved in a Ponzi scheme trumped up by an entity
 promising dreams which never came true,
and now we are supposed to believe Lessard's bullshit this time?

Some of the other details from the presentation included:

Qubein said the $50 million in private donations came from 11 sources. He named himself and HPU as two, but did not reveal the others. He reconfirmed that his advisory board was made up of some of those donors, and that the donors would not profit on the project.

How much is supposed to show up when?

Who are the other donors?

Where is the guarantee the money is going to show up?

Haege did not announce the brand of Carroll's planned hotel. "We'll let you know more about that as soon as possible," she said.

As soon as the taxpayer funded ballpark is approved,
otherwise, Carroll is not going to build a hotel next to an empty parking lot

Qubein said part of the reason for the public portion of the funding was making sure the public had a stake in the project.


He also noted that the city of High Point would own all the assets except the hotel and apartments, and that the "public" money would come from increased property taxes and an entertainment tax on tickets. "It's all about partnerships," Qubein said.


"It's all about the relational capital. You have county, city, philanthropists and private developers working together to make something good happen."

. . .
WTF Jim Melvin, Jon Bell, Mark Brazil, Kevin Carter, Pat Danahey, Don Flow, Kelly King, Nido Qubein, Tim Rice, Kelly Stanhope and Robert Long?

"Certain choices are incompatible with continued existence"

Like the experts who said Say Yes to Education 
could pay out far more than it took in,
supported by Nancy Vaughan and friends, who swallowed the con

Greensboro's government helps campaign contributors
and fucks most taxpayers

Former City of Greensboro Assistant Manager Mary Vigue used her position to personally profit via Say Yes to Education and Say Yes Guilford

Mary Vigue advocated for Say Yes to Education 
as a City Assistant Manager and an applicant for the job at the same time
meaning the City Conflict of interest policy was violated
by at least Mary Vigue, and Jim Westmoreland if he was aware

And then, after Mary applied for the job 
and before it was announced that she would run Say Yes Guilford,
she arranged a 1$ lease for herself and her new gig
as an acting City of Greensboro employee

All while Mary worked on the Say Yes Operating Committee
as a representative of the City of Greensboro
in violation of the City Charter Conflict of Interest Policy

Ponzi? From Say Yes to Education's 7/1/2014 to 6/30/2015 IRS 990 tax form

If Peoples Bank of North Carolina's CEO Tony Wolfe decided to sign off on SEC reports stating Federal Reserve Borrowings, did BB&T?

What I said last night

BB&T buys High Point Atrium showroom for $2 million; Guilford County Tax Value - $9.1 million = $7.1 million difference

A BB&T, wealthy investor and Carolina Bank bailout for Skip Alston's Civil Rights Museum and the Simpkins PAC

BB&T CEO Kelly King and CFO Daryl Bible Securities Fraud