Yucca Valley, Ca.,- The Town Council will meet this Tuesday at 6pm in the Community Center to review Staff’s proposal to approve an “advance” to C.O.R.E., CORE Renaissance, the developers of the Senior Housing fiasco.
The January 21, 2014 agenda states CORE is requesting this urgent need for an advance citing cash flow problems.>Agenda see last 10 pages.
What about the $17 million dollars C.O.R.E. has secured to date in other loans for construction costs? Loan info>LINK.
Nuaimi brought in this no-bid developer to build 74 one bedroom units (700 sq ft each) at a cost of approximately $225,000 per unit! > Story.
Is this another rush-job-must-act-now proposal by Staff…or is Nuaimi behind this grab the cash now for his CORE buddies?
This Senior Housing fiasco has been a nightmare from day one and the plug should have been pulled on this mess. >Story.
1. The E.I.R. was deemed deficit by the Regional Water Board who conducted their own study on the environmental impact of septic contamination discharge into the aquifer and placed restrictive water quality specifications on the project for a package waste treatment plant until the sewers are available for connection.>Story
2. C.O.R.E. violated their own biological study and transplanted the Yucca Trees at the wrong time of the year in the hot summer.
3. After Nuaimi bumped up the town’s contributions in order to obtain higher ranking for HUD 202 funding, CORE failed to secure HUD 202 funding after being advanced $560,000. This amount was NOT approved by the Department of Finance as a recognized reimbursable expense >DOF PDF
The contract, dated July 24, 2012, that was only proposed to assist obtaining grants for the “tie-breaker” was not withdrawn after failing to obtain the grants. This is the current contract that CORE is now enforcing on our Town without any grants to reduce our obligated loan amount. >07/24/2012 agenda
Nuaimi said the Senior Housing funds are not the obligation of the Town’s General Fund. Last February he wrote:
“First Nuaimi does not obligate, Town Council actions entered into the DDA with NCRC. Second, it does not show up in the budget because it is not a General Fund obligation.”-Mark Nuaimi, February 6, 2013, 12:31pm. >Source
According to the staff report, Curtis Yakimow, has identified 3 accounts to be tapped for this urgent cash advance request:
General Fund $ 343,138
Future Impact Fees Fund $ 550,000
Local Trans Fund $ 300,000
Will these “advances” be in addition to the IOU’s sitting in the “Reserves” column currently in the amount of $700,000?
What does this say about C.O.R.E.’s financial stability claiming cash flow problems when they have other funds?
The replacement funding sources spelled out in the Staff report are unrealistic. To cite the Department of Finance as a reimbursement source in the staff report borders on providing false information to deliberately mislead the Town Council. To date, the DOF has a win rate of nearly 97.9% of every claim that has been taken to the Superior Court to challenge the RDA, Redevelopment Agency wind down.
The DOF has continually DENIED payment of this Senior Housing project because there were NO enforceable contracts in place. It is a blatant lie if anyone suggests the DOF will somehow recognize this obligation at a later date. The DOF has denied this Senior Housing scheme, $38,000 attorney fees for Senior Housing, the General Plan update and the Sky Harbor dog park. >Story
Yucca Valley needs a forensic audit, ASAP!
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