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| Post Number: 11
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Stone-Magnon 
Group: Members
Posts: 1540
Joined: Dec. 2010
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Posted on: Jun. 26 2011,5:15 pm |
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Ya, really? Hearsay is irrelevant especially considering the source. He owns big chunks of Utah and sells oil rights. Jensen ain't hurting for nothing. He just inherited all his dad money as well.
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...everybody must get stoned
-Bob Dylan
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| Post Number: 12
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Hobo
Group: Members
Posts: 54
Joined: Jun. 2011
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Posted on: Jun. 26 2011,8:52 pm |
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Tim Jensen or Greg Jensen partner with Moen?
Tim = Jensen Electric
Greg = Jensen auction agent/radio station owner.
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In this town all the city leaders are related. It's called Incest. 
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| Post Number: 13
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Hobo
Group: Members
Posts: 54
Joined: Jun. 2011
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Posted on: Jun. 27 2011,8:17 pm |
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I'm watching the council meeting and Moen is dogging the Bullets. He just wants more time , time to get his Chit together.
If we do it for Moen they need to do it for others. If you start something you better finish it.
Mr. Moen and partners got more TIME , 2 NO Votes to alot of yes votes.
Council to vote on Tiger Hills agreement
Published 1:44pm Saturday, June 25, 2011
Email Comments .
.About a month after the issue was first tabled, the Albert Lea City Council on Monday is again slated to vote whether to amend the city’s agreement with the developers of the Tiger Hills housing development.
According to city officials, developer Greg Moen has requested the council amend the way assessments for the second phase of the development are paid for.
Instead of a certain amount of city assessments being due each year, he has requested that assessments be allowed to be paid in full plus interest at the time a lot is sold, or deferred until Nov. 30, 2017, whichever happens first.
The council approved a similar deferment for the assessments in phase one of the project.
Moen has said in documentation to the city that this would allow him to pay his delinquent real estate taxes. The lots are projected for a forfeiture sale in 2012 if the delinquent taxes are not paid.
In a letter to City Manager Chad Adams, Moen said he has been working with his bank to be able to release some of the proceeds from lot sales to pay the development’s delinquent taxes.
He said he is current through the first half of 2011 with the phase one taxes and has had a lot sell on June 17 and is expecting another on July 8.
“The bank has agreed that since the funds are available at this time, that they will release them to pay all the taxes and bring us current as long as the city changes our assessments to be set up the same as phase one,” he writes.
“The time has come that the council must make a decision on this now, as the funds are ready to be released at this time,” he continues. “If we wait then the bank will apply those funds to the loan, and depending on the market conditions, we may not have the ability to pay at that time.”
He asked the city manager to consider the tax revenue generated for the community.
“It should be quite easy for you to see that this has been a very good investment for the city of Albert Lea,” he said.
During discussion about the issue Thursday, Adams presented the council with four options on how to handle the issue.
• He said, first, the council could chose not to do anything with the agreement until spring of 2012, as the delinquent parcels would not go into tax forfeiture until August 2012. This would give more time to see if additional lots will be sold.
• A second option would be to modify the assessment schedule with a letter of credit. A letter of credit would be required to ensure the money is paid.
• Third, the council could choose to defer the assessments to lot sales, just not as long as 2017.
• Lastly, Adams presented the option that Moen prefers of deferring the assessments until lots sell or until 2017. The developer would be required to pay all delinquent property taxes and assessments to date. When the issue came before the council in May, Moen had paid about $500,000 of the principle owed to the city. The city put roughly $1.3. million into the project. But then there are also interest costs.
First Ward Councilor John Schulte V asked if there had been any hardship shown by Moen such as that he was going to go into bankruptcy if this amendment was not approved.
Adams said Moen had not indicated this.
Second Ward Councilor Larry Baker expressed support for Moen’s request, saying that he does not think the city should get into the business of selling lots in case the city ends up with the lots.
Mayor Vern Rasmussen said ultimately what needs to be decided is what’s the best way the city can recoup its money that has put into this.
Sixth Ward Councilor Al “Minnow” Brooks said for him, the decision comes down to whether the city is prepared to make similar amendments with other developers if they see this one approved.
“Are we going to give all the other developers the opportunity to come back and say we’re going to honor the same thing for you we did for Greg?” Brooks asked.
He said he thinks there would be nothing wrong in the council saying they would like to wait and vote on the issue in the spring after seeing what happens the rest of this year and beginning of 2012.
“We’re supposed to do what’s best for the community as a whole — not what we think individually,” Brooks said.
Moen is anticipated to be at the meeting Monday to answer questions from the council.
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In this town all the city leaders are related. It's called Incest.
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| Post Number: 14
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Whiskero
Group: Members
Posts: 1195
Joined: Mar. 2005
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Posted on: Jun. 28 2011,11:08 am |
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They make it sound that Tiger Hills is the only development going on and the only place to build.
What about Larry Land, Wedge Wood Cove, and all the other open areas in town that one could build?
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| Post Number: 15
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Stone-Magnon
Group: Members
Posts: 1540
Joined: Dec. 2010
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Posted on: Jun. 28 2011,3:37 pm |
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Editorial: Tiger Hills didn’t need a break
Published 10:22am Tuesday, June 28, 2011
Email Comments.
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The Albert Lea City Council made a mistake in 2005 when it gave a loan to the developer of the Tiger Hills residential development. There’s no doubt about that.
However, the City Council keeps making mistakes by granting deferments on the assessments that bring the money back into city coffers.
At some point, a person has to pay the piper.
The council in 2008 agreed to give a deferment for the first phase of the project. Last night, it granted a deferment on the second phase.
We feel the city should have asked for the full disclosure of the developer’s present finances when determining whether he really could pay taxes. The city at least should have required a letter of hardship, like any ordinary taxpayer. And we feel the staff’s recommendation of tabling the matter until spring to see how home sales go would have been a smart move. The city manager is correct that there is plenty of time. There was no need to act immediately.
Wouldn’t it be nice if you could just call your bank and tell them you intend to pay all your mortgage payments for the next few years in 2017?
Apparently, the developer of Tiger Hills doesn’t have the money to pay his debt. Deferring the assessments would allow him to use what money he says he has to pay his delinquent taxes and avoiding forfeiture of his unsold Tiger Hills properties.
He is lobbying for this because he says he has a deal worked out with the bank. Here is a quote from a letter to the city manager:
“The time has come that the council must make a decision on this now, as the funds are ready to release at this time. If we wait, then the bank will apply those funds to the loan and depending on market conditions we may not have the ability to pay at that time.”
It always was a sweet deal to get a loan from the city, a level of risk that most cities would not undertake and clearly now one Albert Lea should have avoided.
Such a move looked like it could set a precedent for other developers, but the council in 2007 closed that door to anyone else when another set of developers sought the same use of tax dollars for another residential development.
The fear now is that the city would end up owning the properties and having to sell them. True, it could end up owning them, but that is part of the risk they took a few years ago.
The developer has been granted plenty of breaks. It’s time to change course when it comes to Tiger Hills.
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QUOTE The fear now is that the city would end up owning the pro, The fear now, the fear now, the fear now... is that the city would end up owning the properties and having to sell them
Is this writer some kind of dope? What if the city were a car dealer? This is like saying the biggest fear a car dealer has is repossing the car because then he'll be stuck trying to resell the car. Better off to let the person keep the car for another 5 years without making any payments. He can pay us something when he sells the car in 5 years.
Don't you get it? You're not as good as the Moens. You're not as deserving. By God, the Moen's will be made whole even it it takes 10 years! They deserve to be millionaires and you deserve to pay to see it that it happens. The Moens are our friends. Rhonda could've been real tough on the credit cards but you know what? She knows it was tough and people deserve to make personal charges every so often and it helped us and we owe her! YOU put us in charge and we are making you pay the Moens and that's that!
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...everybody must get stoned
-Bob Dylan
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| Post Number: 16
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alcitizens
Albert Lea
Group: Members
Posts: 3664
Joined: Jul. 2009
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Posted on: Jun. 28 2011,10:14 pm |
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Residents can now go before the city council and tell them that they will pay their property taxes, water, assessments, ect. when they have the money to pay..
Pass the word, "I'll gladly pay you on Tuesday for a Hamburger today, if I have the Money" is now the Policy of the City of Albert Lea..
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| Post Number: 17
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Hobo
Group: Members
Posts: 54
Joined: Jun. 2011
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Posted on: Jun. 29 2011,11:01 am |
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The City jumped into this mess with both feet when Moen first went to the council years ago. I will say one thing , Moen is getting people to buy lots and build out there considering it's a mud hole and old swamp land.
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In this town all the city leaders are related. It's called Incest.
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| Post Number: 18
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Stone-Magnon
Group: Members
Posts: 1540
Joined: Dec. 2010
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Posted on: Jun. 29 2011,11:19 am |
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How is it a mud hole? We spent $2 million dollars shoring it up. Was it worth the tax money on a few homes? Remember every home filled out there is another home empty from another part. It's a zero sum gain. You must be one the fools in on this or a total retard.
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...everybody must get stoned
-Bob Dylan
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| Post Number: 19
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| Post Number: 20
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