For those of you who may have missed it, Neal St.
Anthony devoted his entire column in yesterdays Strib
business section to Brookfield/MCDA maneuvers. His
characterization not mine.
He qoutes Harry Brandt Of Brookfield: "There's a
unique situation for Brookfield and the city to do
something. The city would like the cash. We have some
cash."
Of course this begs the question of why the city
cannot wait patiently for its money. If I recall the
city is in first position on the 2002 loan which is
currently valued at $26.8 million so I presume by its
maturation date it will have even a greater value. If
Brookfield has the cash today are we to believe they
won't a year from now.
Why does the city/MCDA want the cash so badly right
now that they are willing to forego millions in the
long run? The idea that Brookfield would actually file
bankruptcy on these properties does not ring true. For
this sort of cheap bald-faced extortion to be
effective the city must have some vulnerability it is
not talking about.
This is high stakes poker and it seems the city has
already shown its cards by agreeing to negotiate in
the first place.
Tim Connolly
Ward 7
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