((HT: KPNX-TV Phoenix/12News))
12News' resident bulldog, Brahm Resnik, relays some really big information on the possibility of the validity of any parking fee bonds appraisal that the City of Glendale wants to float for the intended sale of the franchise to Matthew Hulsizer...
The Goldwater Institute, Arizona's legal watchdog, says that the group that was consulted to crunch the numbers involved in the parking fees ((and their possible benefits)) is, currently, a party in a lawsuit involving the development of an arena outside of the Phoenix metro area- the home of the Arizona Sundogs...
Allstate Life Insurance Company filed a lawsuit in the U.S. District Court in Arizona in September of 2009.
The lawsuit alleges that the defendants "misrepresented and failed to disclose material factual information that indicated the event center could not generate sufficient operating revenues and sales tax revenues to make the project economically feasible."
Allstate claims they got "false and misleading" information that gave the company the idea they were getting "A- rated" securities when it was determined the arena was not profitable and wasn't meeting expectations when it came to dates and events that could be housed at the Prescott Valley Event Center.
Joyce Lobeck of the Yuma Sun has the background hyah...
Resnik talks through a long file tape with the mega-important info...
TL Hocking's review is hyah... it's a bunch of numbers that claim a bunch of money can be made...
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