This link for local reporting, Bloomberg, here. And if it happens in Ramsey it likely will be where the majority making the bad bonding decision will be out of office with only their legacy lingering on to vex all others in our town. If Flaherty's thing flys, at least short term, the disaster will be postponed to where identifying perps will be a harder exercise. Bonding for the city hall falls into that category too.. Done to us. Unprecedented. No referendum, not even an "advisory" one on whether to drop millions down a bottomless rabbit hole named Ramsey Town Center. Never mind rebrander mentality, it is still what it is. Calling a horse chestnut a chestnut horse does not change the reality of failure rebranded. Patience, and patience alone will have any chance of redeeming it, and patience is what is lacking with Landform's commissions to flow from closed deals, any kind of closed deals, even precedent setting ones where every developer showing up will want his Flaherty-like handout. Bad news travels fast, and intensive subsidization of bad ideas is bad news. Look for developers each holding a hand out, saying, "Mine like Flaherty."
HuffPo, here. Spending down Ramsey Reserves somewhat was okay. Spending them down drastically on Town Center gambling is different. Using reserves to buy a third water tower differs from using reserves in real estate speculation, by amateurs who hired a pied piper with an off-tune flute.