No Reply

This happened once before,
When I came to your door,
No reply-y-y-y.

Lennon, McCartney

A Four Million Dollar Question

Why would the city of Goodyear pay $12.2 million dollars or $4 million dollars MORE for a building than their own appraiser told them it was worth?

You don’t have to believe me.  Shown below and also attached is Goodyear’s own appraiser’s report, page 138, where he states exactly that. The appraiser only increases his estimate of the current value of the building from $8.2 million to $9.2 million because he says that Goodyear is paying “above market value”, “bonus rent” under the current lease agreement*. Lopez Appraisal page 138

$4 Million Dollars of YOUR Money!

Once I became aware of this issue, as a good citizen, I first went to a GY city council meeting and asked them if they knew what they were doing, and then I followed up with an email to Goodyear City Manager Brian Dalke and copied council woman Wally Campbell. I asked Dalke to explain the many inconsistencies in his analysis of why Goodyear should spend $12.2 million dollars for a new building that GY is currently leasing and which Goodyear’s own paid appraiser told Goodyear in a written report was only worth $8.2 million dollars. Dalke Email

Well guess, what?  No reply from Mr. Dalke.  Are you surprised? Instead I received an email blast general issue marketing email from someone on Mr. Dalke’s staff a few days after my inquiry. GY Marketing email.   The latest spin on this story is that now they’re no longer claiming the building, “won’t cost us any money to buy”. Now Goodyear claims that, “buying this building will save us money”.  I can’t wait until I get my next issue of InFocus magazine to see just how far from reality they’ll continue to spin this story in Georgia’s own personal taxpayer paid for political advertizement magazine.

So before Dalke, Lord and their legion of highly paid marketing staffers get to you citizens out there to convince you they are only working in your best interests, here are some actual facts about Goodyear’s recent building purchase;

  1. Goodyear had the building appraised by their paid appraiser at a cost of $3,500. Goodyear’s own appraiser told GY that the buildings were worth $8.2 million dollars.
  2. But instead of paying something close to $8.2 million dollars for the buildings like their appraiser told them they were worth, Goodyear has decided to pay the current owner and their current land lord $12.2 million dollars for it.  That is a 49% premium over what their own appraiser said it was worth!
  3. Goodyear is paying $12.2 million for a building that is currently leasing for only $10 – $12 per sq ft.  But Goodyear is paying $15 to $16 per sq ft for it under their existing lease, a lease that has only about 24 months left on it.
  4. Goodyear justified their purchase by only considering the $10 million that GY will have to borrow to purchase the building. The rest of the nearly $3 million dollars Goodyear will spend to purchase and refurbish the buildings they don’t count as “real” money because it’s cash on hand that they already have.  I know, there is no logic to that but that is what they are doing.

Is it any wonder there’s been No Reply?  Que the music….

I tried to telephone,
They said you were not home,
That’s a lie-i-i-i

* You can find the entire appraiser’s report here. Appraiser Report Article.


4 Responses

  1. Dishonesty in government is unacceptable. We will work to vote these people out of office regardless of party! But in Arizona, the GOP has “controlled” the state for 4 decades = entrenched. Many have abused their power and many remain silent = complicit and eat-out-of-the-same-trough. Time for immediate change!

    The growing list in Arizona — disbarred Maricopa County Attorney Andrew Thomas, disbarred his top henchman, Maricopa County chief charging prosecutor, Lisa Aubuchon, sanctioned Maricopa County DCA Alexander Aubuchon; recalled and voted out of office — ousted ex-sitting president of state Senate, Russell Pearce; a partial list but people ARE noticing and taking action with great success.

    Who’s investigating the conflict of interest with the CCA / High Ground / Chuck Coughlin / the Sensemans private prison corporation Corrections Corporation of America driving state public policy from / around the Governor’s office? Why not discuss this?

    The mass industrial prison complex part of the Defense budget which is being worked on now must be addressed by the voters / taxpayers. This is where your tax dollars are flowing. Why is this crisis being ignored? Over $1,000,000,000.00 (one BILLION $$’S) of the state budget which was INCREASED while education was slashed.

    • Dishonesty in government?

      Where’s the outrage in the swiping of the mortgage foreclosure settlement of $50,000,000.00 (for those it was intended for, the homeowners) … swiped by the legislators and Governor to be used for NEW prison beds?? 500 beds for $50,000,000.00, money that does NOT belong for unnecessary new prisons?

      Where’s the audit on the top-heavy management cost of prison executives and their lucrative pensions the taxpayers cannot afford?

      Where’s the outcry?

  2. S U R P R I S E. audit, audit, audit… Is necessary so you can be aware of all the other bad spending, planning, and lies….

  3. Mary, you are correct.

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