When it comes to the BIG money spending decision relating to the proposed Human Services Building, we don't believe that anyone is saying to County Council "don't do it", but instead to proceed with caution. Investigate properly all the options and possible scenarios that could hurt the taxpayers again, and don't let John Stoffa or Ken Mohr pressure you into something that the taxpayers will later discovered, was not necessarily the correct thing to do.
Considered the Swaption; a pay-off of over twenty seven million dollars is evidence that it was the wrong thing to do. These are all risk-taking gambles that if any calculations are incorerect, and/or all are not on the same page-at the right time, than much can be lost, as was the case with the swaption.
Hindsight tells us that we should have paid off the Swaption when it was well under ten million, say four to five million. That certainly would have been the correct avenue to take, however, at that time you couldn't get the necessary five votes to do so. And more importantly, John Stoffa was not recommending it. So the taxpayer ended up taking the hit. Why Can't we learn form our mistakes? Fair Question!!!
READ: HSB Editorial