Thursday, March 29, 2007

Oak Ridge Citizen Petition Certified

Kudos to Bill Schramm and for getting enough signatures certified to place the bond issue on the ballot. The proposed bond issue is corporate welfare at its worst.


In a press release sent out Wednesday, Citizens Oak Ridge President Bill Schramm said residents opposed to Crestpointe — at least as proposed — had been frustrated by the city's "inappropriate promotion and fast-tracking of a major public expenditure designed to benefit a single private interest."

The proposed development, which is expected to be anchored by a SuperTarget, would require a $10.5 million city investment, to be repaid through new site revenues.

"Giving $10.5 million of city money for a single site and developer is a highly unusual move," said Schramm, who also teaches economics at Roane State Community College and was involved in a previous Pine Ridge petition drive. "A gift of this magnitude requires more disclosure and scrutiny than a bank loan would. So far, we have seen less."

Oak Ridge officials are aware of the signature certifications, City Clerk Jackie Bernard said. Oak Ridge City Council members will consider an election resolution at their April 16 meeting, she said.

The referendum election would be held at the same time as the June 5 Oak Ridge municipal election.