It's A Twofer Thursday On 1370 WSPD Pat Kriner and Keith Obey

Pat Kriner on at 6:10a to talk about the complete breakdown of leadership in the local GOP in that they failed to certify Jan Scotland for the November ballot. This is clearly on Stainbrook and no one else. He spoke with Meghan W. Smith tonight and tried to lay the blame of Linda Howe at the BOE. I'll explain in the morning.
At 7:30a it's Keith Obey who wants to reopen the old Ford Stamping Plant. He has a proposal in front of the commisssioners that will be voted on next week. So far only Ben Konop of the bold ideas is against it even though it would actually create jobs unlike the Art Loop, and Art Loan program he started.
Should be fun and who knows maybe Stainbrook will grow a pair and call in too.

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Ya, a loan from the county to a private business.

Isn't this the type of thing that people are so adamant about, tax payer monies being given to private businesses.

"Mr. Obey said the organization needs $3 million in operating capital to close the deal with a private investor who's willing to pay millions to buy the land and equipment and lease the property to Maumee Authority."

"Under the terms of the proposed loan agreement, the county would help the company raise the $3 million, but only after the deal closed and the investor puts down his money - and only if the escrow account has all of the $1.5 million to back up the county's investors."

"But even after the deal closed, some investors could choose to retrieve their money from the escrow account, leaving the county unable to recover those funds.

Matt Sapara, the director of the Lucas County Improvement Corp., the county's economic development arm, admitted that such a county loan would be unprecedented, but said the terms of the loan have minimized the risk."

Unprecedented loan, are we feeling lucky and want to place a wager on a business related to the auto industry, which itself is in steep decline.

http://toledoblade.com/apps/pbcs.dll/article?AID=/20080820/NEWS33/808200...

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