As you can see an actual state highway sign tells exactly what 40B
is synonymous with, METHUEN !
In fact, either incompetent or corrupt behavior, (it remains to be
seen what our locals are going to claim), originally discovered
right here in Methuen is going to be the undoing of this
ill-thought, ill-advised, unaccountable legislature approved
statue; we lovingly refer to as 40B.
Who thought this ruse up anyway? What genius State Representative
or Senator’s brainchild has this been?
The damage this ill-conceived statue has reeked will plague some
communities for an eternity.
What each and every community that has fallen victim to this
ruse must now do is demand accountability with damages awarded.
Now strap on your seat belt: I’m going to show you just how they
bamboozled the citizens! A real meeting of the minds when
developers and local officials team up against the citizens or
should I label that a conspiracy?
The Hook
40B is known as the anti-snob legislation. It was enacted by our
State Legislature.
The original intent was to construct affordable housing in
communities.
The communities that are susceptible for 40B projects are those
communities that partake of state funds, which are most
communities in the Commonwealth.
The trigger that allows 40B to overrule the local government’s
zoning by-laws, without regard to infrastructure, police/fire
service, and schools is a community below their 10% affordable
housing stock inventory. 40B projects can then stomp into your
community with their spiked club and beat the locals into
submission.
If you do not comply with 40B, a town or city will jeopardize
their yearly state aid which according to the records provided to
me in the working budget, Methuen ’s estimated take of the state
pie will be $41,660,445.00 for fiscal 2006.
So as you can see, Methuen would be in a real pickle if it did not
comply.
It appears our local officials and developers have embraced the
concept of 40B whole-heartedly. You know, for the less fortunate
and the children. (Look for an upcoming article on just how caring
these developers and local officials are when it comes to the less
fortunate and the children.)
NOTE: Massachusetts is the only state in the union bleeding
population. Who would have figured?
40B comes with extensive guidelines on one must comply with to be
eligible. In fact, it is so wrought with rules and regulations,
the application is so massive to hurdle that luckily there are a
few consultants who traverse the state advising, (for a handsome
fee paid by the 40B applicants), local officials and developers on
how to navigate the paperwork.
These consultants, (one of ours was Ed Marchand), advised our
local officials on how to accept these gargantuan projects and
convince the citizens that this is good for us.
These are the very same local officials, taxpayer funded salaries;
that are supposed to be representing our best interest. RIGHT!
Well, we can call it whatever you want: incompetence, inexperience
or downright corruption, WHATEVER!
WE ALL KNOW THAT THIS IS NO DAMN GOOD FOR US!
According to these guidelines, if a 40B project is approved, the
developer must not profit more than 20%. After all they are doing
something benevolent for the less fortunate and the children! This
is a lovely catch phrase preached at every 40B hoopla I have
attended – and there have been many!
The Plot
A developer goes out and swoops in on a piece of land or an
abandoned building; purchases it, or then again, it could be just
some plot hanging around in the family.
In order to be eligible for the 40B dance a developer must form an
LLC, (Limited Liability Co.) The developer then takes the land
that has been purchased or in some cases inherited, turns around
and sells the land to the LLC, (himself and select unnamed
partners), realizing in most cases an astronomical profit.
Let me give you an example: David Spada bought the 4 Gleason
Street site for $615,000 and then sold it to the newly formed LLC
for 1.2 million. A measly $585,000 profit for doing absolutely
nothing!
Keep in mind that Spada has taken the 40B ruse to the max, besides
the out-of-line profit, he has gleaned hundreds of thousands of
dollars in grant money. Not to mention a $10+ million tax-free
loan from Mass Development, the venture capitalist arm of the
state government. In other words, you the taxpayers also fund Mass
Development.
4 Gleason Street if you remember is also highly contaminated.
There will be updates on just how the Methuen Assisted Senior
Suicide Living Complex is progressing in future articles.
This is only one example of 40B GONE BAD! Over the next several
months I plan on investigating each and every 40B that every came
down the pike in Methuen and expose the actual profit gained in
the name of benevolence. My source tells me that this profit
scamming has happened an inordinate amount of times!
Challenge
I Challenge each and every one of the new elected councilors and
the mayor to investigate each and every one of these 40Bs in the
City of Methuen . If corruption and misappropriation is present, I
expect these sworn public servants to hold these individuals
accountable with prosecution and restitution in the name of the
people.
Dear Loyal Readers, This is going to very interesting! We are at
the gate; the starter has fired the gun. LET THE GAMES BEGIN.
I’MMMMMMM BACK!
|
