Liberty Science "Master Plan" is JC Taxpayers Kiss our Ass

The legendary rapper Rhakim has one of the most famous rap songs ever entitled "The Master Plan". It seems that the Liberty Science Center has been listening to his lyrics intensely, while hatching their SciTech city development plan.

Citizens please pay attention to what I am about to reveal in regards to the SciTech City development plan.

1. There is a reason why the property is being transferred to Liberty Science Center for $10 bucks and an appraisal is being conducted 90 days later.

LSC already knows the value of the property and what City Officials are not disclosing is that the philanthropic donations in which Councilwoman Candice Osborne alluded to that LSC has to raise in the sum of 80 million dollars to fund the project, will be raised by LSC's offshoot Not for Profit SciTech City LLC by securing a loan against the land.

Yes , the city is allowing them to use taxpayers land to secure their financing . This is the primary reason why the City has agreed
to delay payment for the land until LSC recoup 78 million dollars. The financing partner on the project is demanding that they be repaid before anyone else is paid including the city, since the city is viewed as a partner on the deal .

2. The premise that we should allow LSC , The City�s partner to recoup their philanthropic funds before we recieve payments is absurd. If LSC were to divert donations into SCITech City without informing it's donors would border on misappropriation of funds by LSC.

3. Last night we were informed thar SciTech City would operate with its own set of financial books, With that being stated why hasn't the Council or Mayoral demand that the City has a representative on the SciTech City Board.

4. Who are the members of the SciTech City Board and what are their development connections if any ?

5. As the property is developed SciTech City will increase their debt load and remember if LSC does not take a draw down themselves there is no profit sharing with the City.. So the most likely scenario SciTech City will increase its debt load by taking on expenses of LSC so it can avoid making any payment to the city.

In a nutshell imagine going to a friend telling them to give you want to buy their car, they transfer title to you without payment , you proceed to place a loan against the car, than you buy another car with the proceeds, and explain to your friend that when you pay the car loan off you will pay them their portion.