From: Tom Heller
Columbus
For a small city, Columbus prides itself on being different by design. That legacy continues. Indeed, we’ve diversified from our world-renown architecture and diesel engines. We’re now at the lead of many global movements including improved efficiency and transparency.
Most recently, I discovered that we were innovators in the “Green New Deal”, too. Yes. Three years ago, The Republic reported that consultants had informed the Columbus Redevelopment Commission they could save almost $700,000 by refinancing bonds for the Jackson Street parking garage.
Now efficiencies like that don’t come around every day, so they listened closely and followed to the consultants’ advice.
Per the consultants’ advice, attaining those savings required the Redevelopment Commission to borrow an additional $2 million beyond what remained outstanding. I had alerted our new mayor that there was no need to borrow more money (nor a need to refinance the bonds as the consultants had advised). The Redevelopment Commission had enough cash in their bank account to pay off those bonds over the following two years. Paying them off would have guaranteed a $2.3 million savings, much more than the $684,000 savings touted by those consultants.
But that opportunity went ignored by the mayor, the redevelopment commission and their consultants. So, our “river city” is now $2 million deeper in debt than it needed to be, making completion of its growing list of costly civic investments (riverfront, railroad overpass, downtown conference center, Crump renovation, the mall) that much more difficult to pay for. But the consultants cashed in their not insubstantial professional fees, $182,000 worth.
Yes, Columbus began the “Green New Deal” years ago when we weren’t looking. Our leaders were dealing out the Green – with the (in)expert help of out-of-town consultants. Efficiency and transparency my eye. That’s really something to be proud of, isn’t it?
