8/7/13
Tony Wilkins on Robbie Perkins' High Point Bank bail out in a flood plain the day before High Point Bank bid for Robbie's condo
The "Ethical Responsibilities of the Governing Body of the City of Greensboro" states; "The Mayor or any member of the City Council who has a financial interest, direct or indirect, in any official act or action before the Council shall, …disclose such interest and all material facts with respect there to the City Manager and City Attorney. In addition, he/she shall publicly disclose on the record of the Council the nature and extent of such interest, including the full disclosure of all such material facts, and shall withdraw from any consideration of the matter pursuant to sec. 4.131 of the City Charter."
Sec. 4.131 - "Conflict of interest: Greensboro Code of Ordinances" states; "Any officer, department head or employee who has financial interest, direct or indirect, in any proposed contract with the city … shall make known that interest and shall refrain from voting upon or otherwise participating in the making of such contract…”
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If the City of Greensboro’s ethics code for council members refers to Greensboro’s conflict of interest ordinance, the conflict of interest ordinance applies to Greensboro's city council members.
If Greensboro’s Ethics Code says if there is an actual or possible financial interest, City Council members should publicly disclose said interest on the record of council, and the remaining Council members are to decide if a conflict of interest exists.
If a Greensboro City Council Member has a direct or indirect, investment, compensation arrangement or a financial interest with an entity with business before the City, the above statutes apply.
Failing to disclose on the record of council the nature of an interest is a violation Greensboro’s Ethics Code.
Mr. Perkins violated the ethics code of the City of Greensboro, North Carolina.
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Information Request; High Point Bank, Robbie Perkins and Ashley Creek Apartments
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12 comments:
The bank owned the loan.
Robbie was involved in a deal with a defaulted loan by the same bank.
Robbie should have disclosed it but didn't'.
http://www.bizjournals.com/triad/blog/morning-edition/2013/08/greensboro-mayors-foreclosed-condo.html?ana=RSS&s=article_search&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+bizj_triad+%28Triad+Business+Journal%29
"High Point Bank bid $201,000 for the Center Pointe condo. Perkins owes about $206,000 to High Point Bank for the property."
I am not trying to be hard but Tony voted no on Gerbring and no on this loan but nobody made mention of another loan. I could be wrong but back in jan 15, 2013, a company got a very big loan and those subjects are hosting a party for tony. All talk is on Robbie but lets spread the wealth. I could be wrong but I think I read the loan right, it was for 850,000.
34. Resolution authorizing a 120 Month $850,000 loan for Kotis Holdings, LLC to revitalize a long-term vacant big box shell in East Greensboro and create approximately 17 new full-time equivalent jobs. (Council District: 2) (roll call vote) (Attachment #34 to Councilmembers)
35. Ordinance in the amount of $850,000 amending Fiscal Year 2012-13 Economic Development Fund 208 for a loan to Kotis Holdings, LLC.
(Council District: 2) (roll call vote) (Attachment #35 to Councilmembers)
http://greensboro.granicus.com/DocumentViewer.php?file=greensboro_e51d95f925012648c9fee67b413107e6.pdf&view=1
Ayes: Abuzuaiter, Bellamy-Small, Hoffmann, Johnson, Kee, Matheny, Perkins, Vaughan and Wilkins. Noes: None.
That the FY 12-13 Economic Development Fund Budget of the City of Greensboro is hereby amended as follows:
That the appropriations be increased as follows:
Account Description Amount
208-0204-01.5294 Economic Development Loan $850,000
and, that the following revenue finance these appropriations:
Account Description Amount
208-0204-01.9680 Transfer from Equipment Services Fund $850,000
5) Unconditional Joint and Several Guarantee of Mr. William M. Kotis III and Mrs. Asheley Kotis.
6) City loan will be secured by a note and deed of trust with the City’s interest secured by no more than a 3rd lien on the real property and improvements located at 1316 Lees Chapel Road. The first and second lien are with the same lender.
Strong personal guarantee and collateral backing the City’s loan.
o Appraisal $4,500,000
o Equity fully covers City loan.
Repayment is based on cash flow generated by the Church Street Crossing Shopping Center/ Kotis Holdings, LLC.
o Strong debt service coverage ratio and equity. Secondary source of repayment is our lien against the Church Street Crossing Shopping Center.
Loan Terms 10 - Year Term
o First 12 Months will be interest only.
o 20 year amortization.
o Interest rate is the 10-Year Treasury Bond Yield as of 1/15/13 + 4.5%. Loan will be secured by a note and deed of trust. Lien on the real property and improvements at the 1316 Lees Chapel Road center. Signed lease from Variety Wholesalers, Inc. dba Rose’s Department Store. City will be provided with an assignment of all leases for the 1316 Lees Chapel Road property.
I might be wrong again but Kotis has many, why they need city money. They also have been active in elections, just saying and now they are helping tony, what gives. Tony was made at Robbie for his loan idea but kotis got a better deal with not a word said.
I am not throwing anyone under the bus but it seems to be a conservative thing to do now as the election gets close to vote no on gerbring for much less than kotis got.
Sorry about the fast typing, but Council moves fast to by pulling things over on us. The whole thing in a nutshell is that Tony called out Perkins for the apartment loan when he asked how the loan got to council, everyone knows who it was, no secret. The loan is not a conservative thing to do so he votes against it as the elections get close. The Bessemer load was voted by him, not so conservative, how about taking money for a county race from Kotis and then a short time later, Jan 15, 2013 voting for a loan for Kotis, like they need it. What Gives, well Kotis is helping with a dinner for Tony to raise money, WOW. I think we need to watch Tony rather than Perkins.
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