Golden Pins Bowling Alley: Due Diligence or Do Nothing?
Property Appraisals: $2 million or $2.2 million ... but we're paying $2.9 million? Read the two appraisals made by the same company with two different values only six days apart! Why are we paying over 30-40% of the appraised value?
Health Review Record Status of Property: This record was LOCKED on 9/11/17 (Read the LOCKED access record). WHY?
Asbestos Activity: You guessed it ... this building is full of asbestos! Read the Asbestos Activity Permit Application conducted by Desert Analytical. Only 554 sq. ft. of the building asbestos was removed ... that means we still have over 50,000 sq. ft. of building space to remediate. The cost? Sure to be a whopper!
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You've heard it over and over from Administrator Huckelberry that we simply do not have enough funds to repair our roads. One way Huckelberry wants to fund road repairs is by the Board taking action on June 19, 2018 to pass a ten-year half-cent countywide sales tax. Do we need this additional tax to fix our roads?
No! It is nonsense when you hear we don't have enough money to fix our roads. The only obstacle we have in fixing our roads is the continued spending of your hard earned tax dollars on non-essential projects. Let's take a look at the latest fiasco proposed by Huckelberry which is sure to cost in excess of $7 million dollars ... money that could be spent on fixing your roads!
Project: Purchase of the Golden Pins bowling alley located at 1010 W. Miracle Mile (Read Huckelberry's memo attempting to justify the purchase and the Financial Analysis of Golden Pin Lanes Acquisition)
Selling Price: $2,941,600 MILLION (including $91,600 closing costs)
Remodeling Cost: $4 MILLION estimated
Total Project Cost: $6,941,600 MILLION ... but we don't have road money!
BOWLING FOR ROAD REPAIRS? HIDDEN FACTS ....
MILLER QUESTIONS APPRAISER ON MISSING INFO
On May 15, 2018, the Pima County Board of Supervisors in a 3:2 vote approved an Acquisition Agreement to acquire the Golden Pins Bowling Alley located at 1010 W. Miracle Mile for the contract amount of $2,941,600--which is nearly 30% higher than the appraised value. Supervisor Miller opposed the acquisition citing issues with the appraisal and questioned why the urgency in approving this purchase without first conducting the necessary due diligence.
May 9, 2018 -- Supervisor Miller sends CERTIFIED letter to Valbridge Property Advisors, firm responsible for Golden Pins bowling alley property appraisal, requesting answers to missing appraisal information pertaining to asbestos in the building ....
Supervisors Bronson, Elias, and Valadez objected and approved the purchase, stating the 45-day due diligence would be started after the purchase approval. County Administrator Huckelberry later issued a memorandum stating the county would spend $2.9 to acquire the property plus an additional $4 million to renovate the property.
The Due Diligence report is due June 29, 2018. According to the Acquisition Agreement, there is a 45-day Inspection and Access period (Sec. 5.1) and the Objection Notice clause (Sec. 5.4) which allows Pima County to provide written notice to Golden Pins during this time of any items disapproved by the County as a result of inspections. If the "cure notice" is not acceptable to Golden Pins, the County may elect to terminate this Agreement.
That's $7 million dollars that could be spent on roads!
WHY THE HIDDEN FACTS?