Mr. Israel’s first proclamation

Yesterday I reviewed Mr. Israel’s first proclamation as found in his flyer.  Now, . . .

On to the second proclamation - - -

“$2.3 million signing bonus returned to residents as part of Comcast contract”

This “signing bonus” was used as follows:

              $353,430 to CSI, which was the company that assisted us in the search and negotiation    

              Process.

              $291,630 to Wachovia Bank to satisfy the mortgage on 2102 West Drive.

           

              $796,378 in the 2010 budget** to a Reserve account for a potential tax obligation

              $902,936 in the 2010 budget ** returned to the residents in the form of a reduction

                  in Cable fees ($9.58 per apartment per month; $114.96 for the year for each    

                 apartment)

            

              ** It is important to note that the 2010 budget was prepared and adopted in

                   2009 when George Loewenstein was the President of UCO.

So – what happened to the money designated “Reserves”?   Well folks, a total of $500,000 – half a million dollars – was used to pave our roads.  Again, I refer you to SCANDALS, PART 7A for details.  And YES, HALLELUJAH! AT LAST I can reveal to you exactly how much was returned.  The 2012 budget clearly indicates $223,972 ($2.37 per apartment per month).  THIS IS BUT 10% OF THE SIGNING BONUS!  

The final figure you need to consider is just exactly how much of the signing bonus did Mr. Israel return to you?  The answer is $223,972 in the form of reduced fees in 2012; $902,936 in 2010 when the President of UCO was George Loewenstein.   

$223,972 is a far cry from a “signing bonus” in excess of $2 million.  By my arithmetic, it is just less than 10%. 

This is just another example of Mr. Israel’s distortion of the truth. 

Before you vote, you should give careful consideration to the remainder of Mr. Israel’s “proclamations”.  I ask you to think about what I have written and decide the truthfulness of these proclamations for yourself. 

Dorothy Tetro