tag:blogger.com,1999:blog-1868411920004717596.post4509956142668328911..comments2024-03-21T02:46:31.260-04:00Comments on The Mountain Eagle: Investor Makes Case for Maranatha ChangeUnknownnoreply@blogger.comBlogger1125tag:blogger.com,1999:blog-1868411920004717596.post-47744979426827822342013-11-13T10:21:47.259-05:002013-11-13T10:21:47.259-05:00The potential investor, Mr. Wu made no direct comm...The potential investor, Mr. Wu made no direct commitment to repay the outstanding debts incurred by Maranatha and admitted that he has thus far invested zero money in Maranatha. Further, he wants additional delays in conducting a required audit (with an audit being the only way to follow the path of disappearing money that has been thrown at Maranatha). For her part, developer McKenna again begged the community to save the business despite the fact that the taxpayers have already contributed millions of dollars. Ms. McKenna claimed to have invested large sums of money herself in the business which is not supported by the facts. Public records indicate her cash investment so far has been less than 1% of the total financing, with the remaining 99% coming from the taxpayers and the banks. Investor Wu did not endear himself to those in attendance with his aggressive insistence that the Town provide concessions and his heart-rendering tale about how much he pays to park his car on the lower east side of Manhattan. <br />The Richmondville Town Board and Town Attorney conducted themselves admirably, insisting that the tax payers be protected. Let’s hope they stand their ground in the face of pressure from Mr. Wu and Senator Seward who seems oblivious to the true cost of this boondoggle to taxpayers of his State. <br />Anonymoushttps://www.blogger.com/profile/04840827107510077184noreply@blogger.com