The Moreno Valley City Council again voted to proceed with their previously dismissed validation lawsuit. The reason for the lawsuit is to get court approval to terminate the rights of the public to object to the financing.
And there are plenty of reasons to object.
This project involves the widening of Nason from Fir to Cactus. One of the biggest reasons to oppose this project is the hidden cost.
This $15 million project will cost about $38 million to repay.
The repayments will be made from funds traditionally used for street maintenance.
The city’s residents will be losing $23 million in annual street maintenance over the next 30 years that will instead be paid to interest.
That’s over 20% of the city’s annual general fund revenues. In the city’s long-range business plan (1/17/2012 study session) the report refers to the city’s significant deferred street maintenance liability. One idea is to use $1 million per year from the General Fund to maintain street quality. In other words if the city institutes this financing, the city is going to need to make up from the general fund the loss in street maintenance dollars.
The biggest reason to oppose this financing is because it shouldn’t be paid for with public monies. There is a development agreement between Iddo Benzeevi’s company (Benzeevi) and the city. That agreement requires Benzeevi to pay for street improvements that will impact his development in exchange for the elimination of his Development Impact Fees. Using public dollars to pay for improvements that Benzeevi is contractually obligated to pay for should be thought of as nothing less than a gift of public dollars to a private developer.
The city council already voted to pay for $23.3 million for streets running through and around his vacant property.
Streets that won’t be needed unless he develops.
By my calculations the Moreno Valley City Council just Gifted developer Iddo Benzeevi with $60 million dollars in public money to improve his property and the value of his property. I think the city of Moreno Valley has worked itself right up to the same class as the city of Bell and Vernon and the county of San Bernardino.
Some more little known information. The city council convened a secret committee to (vet) pick the current city manager. This committee met in secret for months before anyone from the public knew. None of us would have known, except Benzeevi and friends went to the press when it looked like his choice wasn’t going to be hired. Three of the committee members were on the Rancho Belago Economic Council Board of Directors.
A committee spearheaded by Benzeevi to further his economic interests in the east end of Moreno Valley.
Two own property or businesses that will be improved with this plan. Two received campaign contribution from the Moreno Valley Taxpayers Association who in turn received almost all of it’s money from Iddo Benzeevi and Jerry Stephens. We feel Benzeevi and friends got to pick the city manager that furthered their business and/ or economic interests.
Hopefully this information encourages you to become more active in city affairs. Moreno Valley City Council meetings are the first four Tuesday’s of the month (except holidays). The address fir City Hall Council Chambers is 14177 Frederick Street, meetings start at 6 PM.
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