City's funds poorly managed

Sue Humphrey's Aug. 19 letter “City Council mismanages funds” was more than graciously nice, noting the city's funds are being poorly managed. Are there residents who suspect it's worse than that? Did certain city officials collaborate with and knowingly build a hotel for the casino investors and are they in cahoots using taxpayer money? If you think so, speak up.

Humphrey also referred to the city purchasing and updating the downtown hotel without voter input, an investment of (local, state and federal) tax money of about $140 million, including the new convention center and upgrading the U.S. Cellular Center. The mayor says it's a great investment, so logically that would mean a minimum of 15 percent annual return, or about $20 million a year.

That $20 million each year for 10 years would be more than enough to upgrade and repair our streets, not just patch.

Humphrey also recommended we vote “no” for the (proposed) local option tax extension. We shouldn't need it with the expected return mentioned above because that's the taxpayers' money. Therefore, I am going to vote no.

Carroll Schneider

Cedar Rapids