January 14, 2004
Ed Turanchik’s Plan to Take Over the World
An update:
Civitas has given the Tampa Housing Authority a partial list of the properties it wants to trade for prime downtown real estate. Many of the lots are of questionable value and some are too small to build on.
``We're giving up prime property that's worth a lot of money,'' board member Hazel Harvey said. ``None of those properties on that list are worth any money.''
Everyone is waiting for the city to act. The Housing Authority and the Hillsborough County Commission have both put off any decisions until after the Tampa City Council meets on Thursday.
Ed Turanchik continues his used car salesman routine: “I wont reveal any real information about what I’m selling you, but you can trust me. Really!”
When pressed by council members, Ed Turanchik, managing director of Civitas, refused to divulge details about who bankrolls the company and how much money it has invested in the plan.City Councilman John Dingfelder said a company asking for so much aid should be more forthcoming.
``We need to find out who we are going to bed with,'' Dingfelder said.
Acknowledging some questions will have to remain unanswered, Turanchik said city leaders have to trust that Civitas can deliver.
The Centro Ybor mortgage is looming large. City Council may be running scared now that we are paying the mortgage on a mall with no customers.
Bottom line: The city should not get in bed with Ed. These wealthy developers will invest in a money making opportunity regardless. That’s capitalism. Investment comes with risk. It is not for the city to shield investors against loss.
If there wasn’t so much secrecy and if Ed was not in such a hurry and if there were solid guarantees against taxpayer losses, and if we knew the names of all the investors and if we were not callously and permanently dislocating thousands of poor people then I might not be so leery of this project.
Call (813-274-8131) or email the Tampa City Council before the Thursday meeting. Tell them you want lots more information before you will support tax dollars going to wealthy Welfare Daddies!
Posted by Norwood at January 14, 2004 08:41 AM