Dec. 4th, 2013 @ 12:28 pm
Harrisburg Parking Authority approves POS for $286,902,828 in Parking Revenue Bonds. http://t.co/uAguQqsneI
Dec. 4th, 2013 @ 11:59 am
Preliminary Official Statement for Hbg parking system... http://t.co/qLMOXP9Ijc
Dec. 4th, 2013 @ 6:33 pm
Guggenheim Securities Ramiro Albarran & Jay Murphy on bond ratings for the Hbg Parking Transaction. Video: http://t.co/BfrvlshZd0
Dec. 4th, 2013 @ 5:53 pm
Hbg Receiver William Lynch & financial advisor Steven Goldfield discuss bond ratings of the Hbg Parking Transaction. http://t.co/BfrvlshZd0
Dec. 4th, 2013 @ 4:56 pm
PEDFA board approves Hbg Parking Transaction, videos in a second... http://t.co/GVCdBvdR7I
Dec. 4th, 2013 @ 3:05 pm
Steven Goldfield - 23 employees of Hbg Parking Authority have accepted jobs at Standard Parking.
Dec. 4th, 2013 @ 3:02 pm
Steven Goldfield presenting to PEDFA board... http://t.co/Z137414w0h
Dec. 4th, 2013 @ 2:53 pm
Recording PEDFA meeting - vote on Hbg Parking Transaction... http://t.co/7FPoen98BA
Dec. 4th, 2013 @ 2:15 pm
Senate has recessed until Monday, Decmeber 9th, 2013 at 1:00pm.
Dec. 4th, 2013 @ 1:43 pm
Dec. 3rd, 2013 @ 11:52 am
RT @NathanBomey: BREAKING: Detroit's largest employee union, AFSCME, has already filed an official appeal of Judge Rhodes' ruling.
Dec. 3rd, 2013 @ 11:29 am
RT @NathanBomey: This is the largest municipal bankruptcy in U.S. history.
Dec. 3rd, 2013 @ 10:42 am
RT @BrentSnavely: This is big: Rhodes says nothing distinguishes pension debts from other debts, despite state constitution
Dec. 3rd, 2013 @ 10:38 am
RT @NathanBomey: As expected, Judge Rhodes says Chapter 9 bankruptcy is constitutional.
Dec. 3rd, 2013 @ 10:36 am
RT @NathanBomey: ALERT: Rhodes signals he will rule today on whether pensions can be cut in Detroit's bankruptcy.
Dec. 3rd, 2013 @ 10:30 am
Harrisburg Crime Report released on 12-03-2013. http://t.co/PGg1Clq0iU
It was recently revealed the Harrisburg School Board has agreed to settle with ex-superintendent Gerald Kohn. Kohn had sued the School District in Fall of 2010 after Mayor Linda Thompon's appointed School Board of Control ended his employment contract in a 5-2 vote. With that move, one of Thompson's campaign promises was fulfilled.
Kohn insisted his termination was improper and based on Thompson's personal vendetta against him. At the time he said, "I think that the reasons that it's being done are just wrong." Mayor Linda Thompson has always contended her call for the Kohn's dismissal was not based on vindication or personal history, but rather on Kohn's failure to raise the performance of the Harrisburg School District during his tenure.
The lawsuit filed in 2010 included ethical claims against Linda Thompson and attorney James Ellison. Thompson requested she be dismissed because of the “high public official immunity under Pennsylvania law.” Judge William Caldwell had denied her motion, and she remained in the suit with a federal civil-rights conspiracy claim against her.
No details of any proceeding settlement have been disclosed.
by Tara Leo Auchey
photo by Natalie Cake
In 2008, the City of Harrisburg was offered $215 million for a 75 year lease of its parking system, which included parking garages and meters. Locally, this deal was dubbed the "Frydman Deal," so named after Jacob Frydman, co-owner and prominent personality of the private equity firm that put the offer on the table.
The City of Harrisburg's mayor at the time, Stephen Reed, praised the Frydman Deal as the perfect remedy for the City's debt problems, primarily caused by a botched public project---the Harrisburg Incinerator retrofit.
Many of the same professionals, that is advisors and attorneys, who worked on the financings for the retrofit were also principle in conducting the business of the Frydman Deal. In order to get the deal sealed, two boards needed to give approval---the Harrisburg Parking Authority (HPA) and the Harrisburg City Council.
The HPA Board approved the deal in a 3-2 vote despite a very strong indication that board members hadn't thoroughly read or understood the complex contract put before them for vote. In fact, in subsequent testimony in front of Harrisburg City Council, Joe Link, Parking Authority Board Chairman and City Engineer, notified Councilors that he approved the deal based on the information given to him by the professionals and Mayor Reed. "I accepted what he had told me, and that was a good part of the basis that I used for making my recommendation," Link stated.
During his January 2012 testimony in Federal Court, attorney Andrew Giorgione corroborated Link's sentiment about Reed's authoritative approach to getting things done. "You didn't tell him to. He told you what to do."
In 2008, Harrisburg City Council, however, was not as easily swayed by Mayor Reed's insistence. City Council rejected the deal in a 7-0 vote.
In a recent meeting of the Harrisburg Receiver William Lynch, the Receiver's Financial Advisor, Steven Goldfield, and the HPA staff, Goldfield declared, that after reviewing the Frydman Deal, "[We] used that as our guiding light of what not to do."
by Tara Leo Auchey
by Natalie Cake