By: Libi Uremovic | Original Article at patch.com
Reimbursing Mitigation Fees is Latest Scam to Funnel Money Out of City
Tuesday Night the Beaumont City Council voted to approve three (3) more bonds, which brings their total bond approval to seven (7) bonds in four months.
The number of houses is unknown, but the amount of the bonds has been negotiated by the City Attorney. The Citizens of Beaumont paid for two Attorneys to be at the Council Meeting; one attorney just to represent Pardee.
Pinkney went into a diatribe that his is not a bond salesman, but he never said that he wasn’t the lawyer for bond salesman – because that would be lie.
Pardee Homes salesman Mike Taylor claims that he was ‘duly authorized’ by his company to vote, but his company doesn’t have the right to allow an employee can vote in place of a property owner any more than a cashier at the Beaumont ‘Dollar Store’ can cast a vote for governor in Nevada because their company rents a building in that State.
Equally disturbing was Mike Taylor’s conversation with Councilman Lloyd White regarding Pardee Homes being reimbursed for all Mitigation Fees paid with money remaining in the Pardee Homes’ Bond Fund Accounts.
There is $10 Million remaining in Bond Funds Accounts, $8 Million of which is in Tournament Hills Area 17. This development is at least 15 minutes away from the Fire Station. The $10 Million could be used to build a fire station in their area, but it was obvious last night that funneling the money out in the guise of reimbursing Pardee Homes for mitigation fees is the plan.
Beaumont City Council authorized another $30 Million in bond debt with no consideration from Pardee. The City is responsible to pay the interest and premium on the bonds for the next 30 years regardless of whether any houses are built.
Amounts Remaining in Bond Construction Funds as of June, 2015
Pardee Tournament Hills Area 17A 2013 Series A $4,408,782
K Hov 4 Seasons Area 7B Series 2012C $14,038.81 and $15,377.7
RSI Development Aspen Creek Area 20 Series 2012B $1,088,723.87
Pardee Sundance Area 8C Series 2012A $2,767,136.76
Pardee Tournament Hills Area 17B Series 2011A 4,593,668.81