Dear David Weeden,
As the Head Man in charge of the Construction of the tribal Community Center we regret to inform you that that project is not looking too good right now. Here’s what the chairman and the treasurer just won’t tell you.
- The US Department of Agriculture will not release the $12.3 million loan until the tribe can demonstrate the ability to pay it back.
- The tribe must be able to repay USDA $300,000 a year, for the first 2 years. And $600,000 each year thereafter.
- The Chair and the Treasurer have cobbled together $180,000 of Indirect Cost monies (used to pay utilities and other administrative costs ) from other grants. But USDA will not accept IDC money from the biggie…Housing. So obviously they don’t have a revenue source.
You see, there was never an economic development plan in place that would generate revenue to pay the loan. And the government has little faith in the Taunton Itty Bitty Casino actually materializing and won’t accept casino money anyway. So the construction company and the building permits don’t amount to anything without the money to build the building.
The ceremony after the Cape Wide Clambake was really nice. And keep collecting those construction resumes. You’re taking the industry to a whole new level.
People Who Know Better