Is Alderman Jeff Coe Misinformed or Malfeasant Concerning Civic Centre Revenues?

Does Alderman Jeff Coe know what he is talking about – in regards to Civic Centre taxpayer funded subsidizes? The 2017 Audited Financial Report indicates that he is either misinformed or malfeasant when he wrongly asserts, in a Journal Times article, “First District Alderman Jeff Coe is concerned about the city spending much more on its annual Civic Centre subsidy — set at $323,000 in 2016. Coe said he doesn’t want to go back to the situation in 2005 when Racine was spending upwards of $800,000 on the Civic Centre”.

From JT:

At city’s lakefront venues:

In effort to draw festivals Downtown, city leaders plan to retool Festival Hall contract

RACINE — In an effort to bring more people, business and festivals Downtown, the city is planning to retool its contract with the business that runs Festival Hall, Paul P. Harris Rotary Park and Memorial Hall.

Currently, the three city-owned locations — collectively known as the Civic Centre — are run by VenuWorks, a venue management company based in Ames, Iowa, that runs more than 30 arenas, theaters and convention centers nationwide.

The current contract with VenuWorks was most recently approved in fall 2017, when doomed discussions to build a hotel and arena Downtown were still ongoing.

Affecting Racine’s taxpayers

First District Alderman Jeff Coe is concerned about the city spending much more on its annual Civic Centre subsidy — set at $323,000 in 2016. Coe said he doesn’t want to go back to the situation in 2005 when Racine was spending upwards of $800,000 on the Civic Centre.

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The facts, revealed in the City of Racine 2017 Audited Financial  Report evidence that Alderman Jeff Coe, at best, doesn’t know what he is talking about. The Audited Financial Report reveals that the Civic Centre was taxpayer subsidized to the tune of  $807,061, with an operating loss of of $675,357! The evidence is presented below:

Exhibit One : City of Racine Loss Leader – Civic Centre

Exhibit 2: Cashflow evidences that $807,061 in taxpayer funded subsidies was transferred into Civic Centre Account

Exhibit 3: Evidences that Transfers in the amount of $807,061 came from Tax Levy, Pure Magic (others) and Transfers In (more magic)

In City of Racine – money falls from the trees – every single day – to continue financing the City of Ill Repute and those in Offices of Trust and Profit who rake it in daily.  What’s not to see?

Hey Hey Hey! Da Mayor Dopee needs to go away!  Elect Sandy Weidner if you want a truly better day!

It is time for a TAXPAYER FIRST! Racine Spring!

 

Time for! HOT Govermnent

 

Honest, Open, Transparent!

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