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Here is an email letter from the holders of the remaining note.  They wanted to clarify a couple of matters.

Dear Eric,

Here is our story.

When we first heard about the opportunity for the community to buy the lowlands of the Tooby Ranch for a park it seemed like a dream come true. The development of this beautiful piece of land had so many possibilities; everything from walking trails to soccer fields, maybe we could move the High School there, maybe we could build a swimming pool, the possibilities where as far as our imagination and energy could take us. We knew it would take time to raise the money but we were confident it would become a reality.

When asked to donate to the park we decided we could loan money to help secure the property. We have never asked for anonymity. We saw this as a wonderful investment in the future of our community and were proud to be part of the project.

In October 2000 we loaned (#1) $100,000.00 to the Community Park for the purchase of the property.  Interest was 10% until the beginning of this year when we lowered it to 9%.  In June 2001 we loaned (#2) $120,000.00 for the purchase of the property across the river, which turned out to be a very good investment for the park because of the high value of the land.

We received 2 payments in 2002 on loan # 2, one for $4,000 and one for $6,000. In August of 2002 the entire loan was paid off. In December 2007 we received our first payment on loan #1.

We never considered our loans a good financial investment but as a form of support for the community park. We have been continually impressed with Steve Dazey’s vision and the entire board’s incredible dedication to this enormous project that will benefit our community for generations to come.


Robie Tenorio

Gil Gregori

And here a few more answers to questions:

According to the Park Website, the Pboard really wanted the hillside parcel (03) that belongs to steve. But why did they create 03 in the first (or second) lot line adjustment instead of just creating Parcel A as a separate piece?

When the board was first involved with the lotline adjustment, we were unable to make  land payments for a number of  years. We owed significant money to our noteholders and as you have pointed out…interest was accruing at an alarming rate.

The board had a contingency plan that involved offering the mountainside parcel to Buck Mt Ranch (which adjoined their existing property) in exchange for our the remainder of our note, should we be unable to come up with the money to pay in full for the property.  This is the piece of land that is represented in the first survey.

It would have represented a very generous deal for the park, but we really wanted to keep the hillside acreage. When it became apparent that the twenty acres across the river would close escrow, creating the hillside parcel for exchange would not be necessary as we would payoff Buck Mt Ranch from the proceeds of the sale of the 20 acres. Having a  hillside parcel no longer made sense and the idea was eliminated as a possibility.

Does it seem ok that the cp bod could use nonprofit community funds to pay out 497K in interest only for the private loans to buy the park property?

The board didn’t make payments on the notes for about five years. We are lucky that we had individual note holders from the community who were willing to hang in there with us until we had the ability to pay. Those notes were due in 2002 and were paid off in 2007 – Five years later. Interest accrued as interest does when you borrow money. 49K was the price we had to pay for the time to come up with the money. No bank would’ve offered those kind of terms.  If we could have paid off that $850,000 (approx) any sooner we would’ve done it. It was a lot of money  We left all those note holders at a real disadvantage for five years.

My other question, why did metz, ryce & dazey loan the cp bod more money in 2008? this all doesnot sound like much for each year, but adding it all up for 9 years is a nice chunk of coin.

Metz and Ryce lent money to the park last year after the sale of the 20 acres and after we paid off the other noteholders. The park’s income decreased significantly after the property sale when we lost the income from the royalties on the shale. Our first priority was to pay down the debt with the proceeds from the sale. These smaller loans helped with operational costs to get through in the short term until other income sources could be tapped.

Dazey picked up the tab for a lot of park expenses when the park didn’t have the ability to pay in 2002.  Dazey did not loan the park money in 2008.  The park still owes Stephen around $1,900 left over from previous years. It is a 0% loan. All advantage to the park.

Not another Arcata fox either.  Is this going to be a weekly thing?  Jon Stewart already caught them at this recently.  Now as the commentator discusses the “huge crowds” and shows footage “just coming in.”  Only the footage is from last year’s campaign.

Another accident?

And maybe I’m missing some value to the rest of this Mary Matalin column which is very odd.  To me anyway.  Maybe I’m just culturally isolated and maybe this is how things really work in Republican campaigns:

Time is the most valuable commodity on a campaign and you just can’t waste it thinking about how to choose your words carefully or get your job done more diplomatically. If someone isn’t in tears every day, that day wasn’t all it could be advancing the campaign. I once witnessed an experienced (big) man slap a professional female colleague across the face over an ad buy… and no one thought anything of it, starting with the woman. In fact, she would have been insulted if anyone told her she should have been insulted.

I don’t know.  We’ve had some pretty intense election campaigns around here, but would any of you candidates tolerate assault and battery among your workers?  Clif?  Estelle?  Johanna?  Anybody?

I’ve heard bits and pieces.  But that conflict is so passe.  I’m into the park conflict now.  It’s what’s hip and happening!

Addendum: I hear it was actually pretty civil, even if awkward.


November 2009
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