Well, I'm anxiously waiting for notification on the next HFC meeting. This is the meeting where the experts visit Rowlett and offer information on how to run an HFC. The experts have been doing it for years. Our City Council hasn't. This is no time to start re-inventing the wheel. Our City Council doesn't have a clue on how to set one up.
I am anxious because I don't like the nature of the "quietness." It is an ominous quiet. I don't trust it. I have a feeling that something terribly wrong is being plotted.
I have this uneasy feeling that some on Staff are conspiring with some on Council to "pack" the Board of Directors of the HFC. Folks, this is exactly what I don't want!!
First and foremost, I want politics clear out of the HFC business. I don't want "officialdom" even close to the kind of money that the HFC would be handling. That doesn't mean that the City can't handle $80 million, or so, running the city. They do a credible job with that. I am talking about generating money from bond sales to lend to others!! There is a huge difference in the application of funds, no matter whether the funds come from taxation or bond sales. Taxes pay city bills. Lending is a whole different discipline and skill.
We have a bad enough time with the city giving away land and tax revenue, let alone lending money to others!!
Lending is for people skilled or experienced in that endeavor.......not tool and die making. I do not know one member of Staff or any member of Council that has lent any money over $20 for commercial reasons. To put them in charge of a lending institution would be a disaster. They are supposed to select people for the board that are experienced.....and I don't mean their next door neighbors.
If any attempt is made to "pack" the board with buddies or kissin' cousins, I will withdraw my support and fight against the formation of an HFC that the "insiders" have wrested from common sense.
The experts can provide many other reasons for divorcing politics from lending. That would be experience talking. I hope they get a chance to speak.
I am anxious because I don't like the nature of the "quietness." It is an ominous quiet. I don't trust it. I have a feeling that something terribly wrong is being plotted.
I have this uneasy feeling that some on Staff are conspiring with some on Council to "pack" the Board of Directors of the HFC. Folks, this is exactly what I don't want!!
First and foremost, I want politics clear out of the HFC business. I don't want "officialdom" even close to the kind of money that the HFC would be handling. That doesn't mean that the City can't handle $80 million, or so, running the city. They do a credible job with that. I am talking about generating money from bond sales to lend to others!! There is a huge difference in the application of funds, no matter whether the funds come from taxation or bond sales. Taxes pay city bills. Lending is a whole different discipline and skill.
We have a bad enough time with the city giving away land and tax revenue, let alone lending money to others!!
Lending is for people skilled or experienced in that endeavor.......not tool and die making. I do not know one member of Staff or any member of Council that has lent any money over $20 for commercial reasons. To put them in charge of a lending institution would be a disaster. They are supposed to select people for the board that are experienced.....and I don't mean their next door neighbors.
If any attempt is made to "pack" the board with buddies or kissin' cousins, I will withdraw my support and fight against the formation of an HFC that the "insiders" have wrested from common sense.
The experts can provide many other reasons for divorcing politics from lending. That would be experience talking. I hope they get a chance to speak.
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