Tag: News and Commentary

Travel to Asia and a book on Putin led to reflections on Lancaster

Over half a century ago when we first arrived in Lancaster, the public’s business was conducted with transparency. The Steinman newspapers and TV station were devoted to the public good, both in reporting and through philanthropy. Business investment was encouraged and, when perceived to have merit, funded by the banks. Business thrived and investors, not the public, assumed the risks.

CONVENTION CENTER UPDATE: When is a hold up a ‘hold up’?

Consistent with its past ‘hard ball’ approaches, now it appears that PSP is holding out for a secondary agreement with the Lancaster County Convention Center Authority (LCCCA) whereby the Authority would commit to a substantial level of marketing expenses for the Center, not only for the seven years of the interest rate re-set, but for the full 95 years remaining on the condominium agreements. (The hotel and Convention Center adjoin and share public areas.)

Convention Center Authority approves Scott Martin proposal

The Board members understood the draw back of the county providing a guarantee in perpetuity while the interest rate formula is only for five years, a 1.1% savings over what otherwise would have been charged. However, it was the view of members of the authority that Commissioner Scott Martin had fought a long and hard battle and left no stone unturned in negotiating the concessions achieved, and no good would be served by the Board refusing to go along.

PDCVB Votes to Support the Updated Convention Center Financing Plan Collaboration Agreement

“I greatly appreciate the continued support of PDCVB and its’ members,” stated Commissioner Martin. “It is important that this plan, which addresses 7 years of revenues and 7 years of expenditures and provides a bridge of financial stability as we await the opportunity to establish a long term plan in the future, is supported and adopted by all the stakeholders.”