Nanoscale is gone. Large investment of City, University, and State tax dollars gone with it. The Regents audit of a few years ago left lots of questions about the divesture of NutriJoy. How much money have we poured into NISTAC?? ( I know, it’s no longer NISTAC. The name was recently changed to something more tuned to acadamia.)
The Mercury article suggests the City dumped only a quarter of a million into Nanoscale. I would like to see an independent audit find just what we taxpayers did dump into that black hole. But, due to the politics, the City won’t ask questions.
The real question is how many more tax dollars will we spend in the name of economic development. The City Commission has made some extremely poor decisions re eco-devo. Didn’t we give one entity substantial money to purchase land. Once they decided they no longer needed the property, the City forgave some huge repayment amount… in essence buying back the land. Then, we turned right around and gave that land away.
Let’s see. What did we dump into a call center out by the Airport? How many employees does that firm currently have on staff here in Manhattan?
The City Commission is enamoured with the Chamber. They are joined at the hip. As long as the elected officials in Manhattan allow themselves to be puppets for the “shadow government”, our tax dollars will continue being “going up in smoke in a business incubator”. As long as we tolerate our Mayors sitting on the Chamber Board of Directors, even though it is a conflict of interest, we will never be fiscally conservative with tax dollars.
Based upon the Nanoscale report, this Commission needs to do two things. One… and most important… an independent, out of town, auditor needs hired to author an exhaustive report on City dollars spent on economic development in the last 15 years and the results of those expenditures. Secondly, before one more dollar is spent in the name of economic development, the City needs to include counsel from an outside municipal bonding agency. i.e. Is the proposed investment sound enough that the City’s bonding company would ‘bless it’? If it’s not sound enough that a bonding agency would buy the paperwork, why would the City gamble tax dollars in that arena?
It’s never a good thing when our community loses jobs. I don’t know how many were employed at Nanoscale during the past few weeks. Hopefully, these people can find gainful employment to support their families. They need to, especially if this Commission keeps handing tax dollars to private enterprises while cutting social services there to assist the less fortunate.