Re: “Martin plan for Convention Center financing moves ahead; Penn Square Partners gets free ride”
It is interesting to note just how much the “naysayers” got right. Project opponents appear to have been more accurate in their predictions than project supporters.
EDITOR: The “naysayers” were not just ordinary members of the general public but included highly regarded local and national hospitality industry authorities.
In addition, the marketing reports that were made public (but only in ‘cherry picked’ versions) were highly negative, pointing out the project had become bloated, was not well served by transportation, and was poorly located.
Whatever the original good intentions or at least the Steinman family at the birth of the vision, this became simply a business opportunity for counsel Stevens & Lee who earned over $8 million in fees (and continue earn fees), the High Group, the Lancaster Newspapers, Inc. and others who also got to feed at the public trough.
The public was not fooled, despite all of the deception by the sponsors. The clear wishes of the public were simply disregarded. The Fox 47 poll by a national firm indicated that 78% of the Lancaster public opposed any form of public guarantee of the project.
It is especially galling that the Lancaster Newspapers, Inc. has never publicly apologized for its willful part in this debacle and, even now, refuses to give up any of its ill gotten gains in order to keep the center afloat, despite the contributions by other parties.
PSP = GREED, GREED, GREED!!!!
Surely there MUST be something that can be done to make PSP accountable for this financial drain on the county.
The hotel industry derives very little from the events that are held there.
The County Tourist Bureau is loosing precious marketing dollars that are being diverted to the Convention Center.
Lancaster County taxpayers should NOT be guaranteeing the debt, even for five years. PSP is getting a free-ride, with no contributions being made to the stability of financing.
What’s wrong with this picture??????
Everything!!!!
Please remind your viewers that many documents regarding this horrible deal can be found @
http://LancasterCountyConventionCenter.com