Tuesday, August 25, 2009
Countdown to Oblivion?
I was considering last night's BOS meeting where they see things in letters that don't exist, and act on those delusions with little more than lip service to the issues raised in debate. Then I asked myself..."Self...does it really matter?"
In my existential pursuit of whether it matters or not, I came across an entry in Reelwamps that references an expiration date for the deal between the investors and the Tribe. I didn't want to believe a blog, so I looked at that agreement, and sure enough, there is a deadline for the Tribe to get its required approvals (read in here approval of the LIT application). What is the date you may ask...it is redacted. However, the Reelwamp site says that the date will pass in days. For those of you that have the agreement, it is Article 11, Termination, Section 11.2, Failure of Tribe to Obtain Required Approvals. "The failure of (i) the Tribe and/or the Authority to obtain Required Approvals by ____________ ...shall be grounds for termination of this Agreement by the Developer upon written notice to the Tribe and/or authority."
How happy are the investors/developers at this moment in time. The Tribe refused to reaffirm the agreement with the deveopers, the developers have cut off all funding to the Tribe, and the developers won't pay for the completion of the Environmental Survey needed to complete the EIS. Doesn't look good for the Tribe and their LIT, and it doesn'tlook like any Carcieri fix will be in within "days."
Meanwhile, at home, the BOS is voting to spend pre-opening planning money (without the assurances demanded by FinComm or at least one member of the BOS). Does it all really matter in the long run? If we don't get sued for the return of any funds...no it does not. But it is a shame that the BOS did not rise to the moment and act in a responsible and prudent manner.
Oh well. Live, learn, and let's see if this actually is a countdown to oblivion for the resort casino in Middleborough. It's a shame. It could have been nice.
Posted by AMB at 1:58 PM