DDC not providing meeting minues

When city council decided to build our ballpark they created the Downtown Development Corporation (DDC).

Note that it was not named the Ballpark Development Corporation.

That should tell us something.

While the DDC is required to comply with Texas local government rules it seems to want to operate behind the scenes.

They have held meetings in June, August, and October of 2013 as well as in March of 2015 and April of 2016.

None of the meeting minutes for those meetings are available on the DDC website even though minutes for earlier meetings are.

We deserve better

Brutus

4 Responses to DDC not providing meeting minues

  1. Lily Limón says:

    Thank you for making us aware of this. Richarda Momsen has just informed me that minutes are posted. Lily Limón.

    Like

  2. Disgusted says:

    The Downtown Development Corporation is a financial engineering trick known as a special purpose entity/vehicle, otherwise known as an SPE or SPV. Some fuzzy-math CFO’s, including the Enron CFO, like to use these kinds of entities for off-balance-sheet financing. It’s a way to make the parent entity’s total debt look like it is less than it really is. We know how that turned out for Enron.

    According to Texas Monthly, former Enron CFO Andrew Fastow now does speeches on “how easy it is to fall in love with legal loopholes, to do the right and wrong thing at pretty much the same time—like making a company look healthy and vital to the public (and shareholders) while it is slowly, and then speedily, going down the tubes.”

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