Kiss Senator Cisco

Full-on body hugs and kisses to State Senator Cisco McSorley.   

The SunCal tax increment development district (TIDD) bill is dead after his 45 minute fillabuster and vote appeal in the final moments of the session.   Sources say the bill was tabled after his talk and then raised again by Senator Michael Sanchez in the final minutes before noon.  Cisco appealed the voice vote and the clock took care of the rest.  Sine Die.

I wanna know who voted for that bill too, though that wasn't the point. 

At stake was the approval of $629 million in tax-paid bonds for one corporation - for one developer, about 13 lobbyists and a bunch of real and wanna-be land profiteers.  Mental daggers to Cisco from them.    

Some of these old school powers-that-be tried to get got Mike Murphy to run against Cisco awhile  back.  He would have worked out better for them.  You remember Murphy - he has since been indicted for his role in cash-skimming schemes on government construction projects.    Ethics schmethics.

Comments

[Marjorie]

And it was close to $1 Billion given the inflation adjustment provision. Yes, Cisco is more popular than ever at the moment, in every sense!

[pms1967]

thank you coco for making me aware of this issue here as well on the radio ABQ1350. I hope New Mexicans appreciate Senator McSorley's filibuster for the states future economic well being. Keep the money in the citizens hand for the common good. Also support Sen. Chris Dodd in the all important FISA debate. Truth to Power.

[Stan]

Congratulations, The People of Anaheim sent Suncal packing when their lobbyists influenced three of our council members to change zoning in the Anaheim Resort Zone so they could build 1500 homes on 26 acres. It took the people of Anaheim a year before Suncal folded their tent but not without suing the landowner who has since sold that same 26 acres to a developer willing to build hotels and restaurants in compliance with our original zoning. Just make sure you watch your backs when it comes to Suncal. They are used to getting what they want and when they don't, they sue!

[Hunter]

The final paragraph from the Fiscal Impact Report. Expect SunCal to be back with more of the same at the next session. Of course, absent an improved economy, another denial should be a given (should be). Also expect a lot of SunCal money to appear in campaign finance disclosures.

WHAT WILL BE THE CONSEQUENCES OF NOT ENACTING THIS BILL
The DevCo TIDD would not be able to move ahead with bond issues. They will still receive the
tax increment revenues beginning in July 1, 2008, but would have to come back for approval at a
later date. The law is unclear as to what happens to the tax increment revenue if there is no
authority to issue bonds. DevCo does not plan on issuing any bonds for several years so the
impact would only be uncertainty to the investors but have no material impact on the planning.
DevCo is still able to issue bonds secured by the County property and gross receipts taxes
distributed to the TIDD.