Someone called “Dayton Informer” decided to turn my speech to the commission into a youtube clip- I think by taping off the screen of his TV- it gives it a kinda funky low-fi look- but the message doesn’t change.
Here it is for you to review and comment.
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Very interesting. I would like to see more details of this “deal” to better understand everything.
@Jeff- there are other posts about it on this site- complete with the commission agenda which has the contract attached.
Shux, I cannot get the YouTube on my ancient dial-up PC, but I watched the original, it plays for a while on Public TV, channels 5 and 6, basic cable.
It is rather a confusing deal for a layman as me … Am I correct anyone, to say, the original airport building was Emery Air Freight’s, and UPS used it for a while when Emery folded, or is Emery still out there?
Why would UPS lease the building from us then not use it? What’s in the building now? Who is insuring it now?
Dayton owned it at one time, right? Hey, I don’t claim to be a rocket scientist! :-)
“Mr. Esrati – your time is up.”
“I’m sure it is.”
ROFLMFAO!!! Also, nice departing shot about them not pronouncing the next guy’s name right!!
All in all David, not a bad job in front of those jokers. Not that it did any good, but you are to be congratulated on the effort. From the little bit I know about this deal, mostly from your site, you are 100% dead on about this. And you know that I don’t agree with you all that often! ;)
What’s sad about the commission making decisions like this is that they are not at all qualified to do so. I don’t think that any of them have ever run their own business and worried about how to pay people every week. Mr. Williams might claim that he’s qualified since he’s a “banker”, but I can tell you from several years of experience when I was a practicing CPA that not many “bankers” have a freakin’ clue about how to run a business (considering that a city is essentially a business) or even how to read a financial statement. From reading the Mayor’s blog site, his “business” is essentially a hobby so he’s never really structured a deal either. Matt Joseph supposedly works in the private sector but for a government contractor so he really doesn’t have a clue either. Nan & Dean? Forget it! Basically this group of five let a couple of guys bamboozle them into a “you gotta do it now!” deal. Those should always be walked away from.
Again, David – you fought a good fight on this one! On the bright side, in 4 or 5 years, you can tell the commission… “I told you so!”
If it’s any consolation, she can’t say “ask” right either…
Esrati’s fired up, almost sputtering mad, and justified. Why can’t we get this kind of passion from our city officials? It’s all about adhering to the status quo and not rocking the boat, while playing the same corporate games over and over. This city has so much potential, so many people working to make miracles happen, while others just sell out and let it deteriorate…
Okay, once and for all, let me see if I get this deal straight: Dayton was leasing the Emery building to UPS; UPS sold it to IRG for 6-mil; IRG pays off the lease to Dayton for 4mil and puts a cool 2mil in their pockets …
My question now is, is IRG stuck with the County property taxes and fire insurance on the building?
Hey, bet it burns down soon …
@gary- Dayton owns the land- but, it’s controlled by the FAA – which means there are extra rules about what goes on in the building- including that it must be an aviation use- previously, 100%.
Emery owned the building – which was built with a lot of help from Dayton taxpayers. UPS got it- when they took over Emery.
UPS had a lease until 2020. They had to pay Dayton- and maintain the building, pay taxes and insurance as well as maintain to FAA standards- which are very high.
For the last 6 years- no one could find a suitable tenant due to the 100% Aviation use requirement.
Once Herres started talking about a plan- and that his plan didn’t involve letting UPS out of the deal- but, started paying them back for the building- by putting solar on the roof- and finding tenants- the city started to go behind his back to IRG- esp. when they realized that UPS was going to give Herres the building for $1 if he paid their operating expenses through the end of the lease.
Next up- IRG got the building, no money down- with UPS paying IRG $6 million- and the city taking $3 million in escrow for the rent through 2016 at which point- IRG has the building free and clear. They also got the FAA to lower the standard to 10% aviation use.
The real question has nothing to do with Herres- it’s why the city didn’t just take the lump sum from UPS directly- and then offer the building to whomever came up with a plan that paid rent?
Do you understand now- or do I have to put it in cartoon format for you?
Thanks, David, thanks for putting the deal in layman’s terms for me … A cartoon would be neat, in the DDN editorial section … I must’ve got lost on the subject at the FAA part, sorry. So IRG is really pocketing 3million, and will have to take over the taxes and insurance … (Or since Dayton owns the land, they will.)
What happened to UPS’s flights, I figured they were too big to fail …
I wish my brother Bob Van Leeuwen would champion for you, but he’s so busy with his family and some part-time work.
PS. A solar roof could be cool, grow legal pot for the hospitals–now there’s an idea, and people could still fly high there, too! LOL, FAA approved!
Maybe Dayon’s budget could not afford to pay UPS $6 million for the building; they probably just wanted to get rid of the darn building, and take their $3 million and run! Now it’s IRG’s problem … and no rent payments … Hope they do something worthwhile there, for Dayton’s sake.
Maybe FED-X will buy it from IRG and make IRG even more profits!
@Gary- I don’t think you are paying attention- UPS was paying the city $6 million already for the building- now they are paying IRG- and IRG is putting aside $3 million- and doing as they please with the other $3 million.
Okay everyone, I’m throwing in the towel and flying my red flag–this deal is just too complicated for me, I admit–and I’m sorry for causing a stir … I tried to pay attention; my neighbor thinks part of the building is still in use by someone …
Thanks again David, and good luck in your run for Commissioner Esrati!! :-)