PV’s own “Money Pit” Cronyism Marches on
The Yavapai County Fair Association (YCFA) came into exhistance November 16, 2000. Mayor Rick Killingsworth and the council approved Resolution 989. Enacted as an “Emergency ” measure assured there would be no comment against the issue. The agreement for the nearly 200 acre parcel included the town of PV to pay $2,070,000 plus a pro-rata interest and fees over a 10 year period.
The town under ARS 9-500.11 is allowed to expend public monies for “economic development activities” that “the town finds and determines will assist in the creation and retention of jobs or will otherwise improve or enhance the economic welfare of the inhabitants”; is that the residents of Prescott Valley?
Within 6 months of signing this agreement, Mayor “Rick” became an employee of a “renter” of the YCFA and Mr. Jim Grundy (and his wife) became general manager. As a not for profit corporation, it pays no taxes. Most events are, by contract, excluded from providing ANY revenue to the town in the form of fees in place of sales taxes. My research has disclosed, the town has received (excluding water and sewer fees) ONE payment of $1,640 from a Monster Truck Show (11-01) through today (1-19-07) !
If you have visited the property, you will notice a dumpy RV trailor court and an auto race track have been added to a usually filthy Yavapai Downs property. The RV park and auto track are on Fain property and the town derives NO revenue from either even though the auto track uses the blacktop parking of the fair grounds.
I encourage you to convince me that this Money Pit is of economic value to PV taxpayers. We taxpayers send Mr. Grundy $215,553 every year per resolution 989 (see PV 2006-07 Budget page 188-189).