Stories written by Kurt Naas
Kurt Naas lives in North Meck and was active in the Widen I77 movement.

Awful Eight #7: You May Now Regulate Everything

Background In February 1937, flush with confidence after his historic 1936 landslide, Franklin Roosevelt made a rare political miscalculation. The first wave of New Deal legislation often found the President at odds with the Court, as the Court struck down one piece of legislation after another. FDR figured he could remedy this inconvenience by packing […]

May 7, 2015 | Posted in House Guests,National | Read More »

NCDOT Ensures No Improvements on I-77 for 50 Years

The I-77 tolling contract contains a non-compete clause that allows Cintra to be compensated for lost revenues resulting from certain public improvements. Basically, if we add any general purpose interstate lanes we’ll not only pay for construction costs but also whatever revenues Cintra is projected to lose. There are a few exceptions to this. One exception is if […]

May 5, 2015 | Posted in Char-Meck Beat,House Guests | Read More »

Awful Eight #8: “Speeding” the Court

Background In the summer of 1787 legislators from every state gathered in Philadelphia to debate and draft what became the Constitution of the United States. Their hopes were buoyed by the success two years earlier of the Mt Vernon Convention, when Virginia and Maryland drafted the first inter-state compact in American history, an agreement regarding […]

May 1, 2015 | Posted in House Guests,National | Read More »

Awful Eight: The Worst Supreme Court Decisions in History

*Editor’s Note: This is the first in a series of posts by Kurt Naas.  The entire series is linked to at the bottom of this post. Perhaps no other institution in America- not Congress, not the Presidency, and certainly not the electorate- has been more instrumental in defining the relationship between citizen and government. In […]

April 28, 2015 | Posted in House Guests,House Specials,National | Read More »

Feds Approve $189M in Bonds for I-77

Today the TIFIA Credit Council met to review Cintra’s proposal for $189 million in taxpayer-backed bonds. Despite the fact that three fourths of toll revenues will go to the NCDOT, despite the fact that the contract has to be amended so key provisions right now are just placeholders, despite two extensions of the deadline at […]

April 17, 2015 | Posted in Char-Meck Beat,House Guests | Read More »

Financial Close Postponed… Again….

NCDOT and I-77 Mobility Partners (the LLC Cintra set up for the private toll lanes) extended the Financial Close deadline another 45 days. The contract signed by Cintra and NCDOT on June 26, 2104 required Cintra to post a $15 million bond which they would forfeit if they did not close on time. The original […]

April 8, 2015 | Posted in Char-Meck Beat,House Guests | Read More »

Feds Poised to Loan Millions Based on “Placeholder”

Suppose you are applying for a loan to buy a house. You’ve been working with a lender for the past two years and today you’re ready to get loan approval. You stated your income on the loan application as, let’s say $100,000. But in reality you don’t know if that number is $100,000 or $25,000. […]

April 1, 2015 | Posted in Char-Meck Beat,House Guests | Read More »

NCDOT Keeps Three -Fourths of Toll Revenues

Today executives from Cintra are meeting with the TIFIA Credit Council to obtain financing for the I-77 toll lane project.  TIFIA is a federally-backed loan program, and Cintra is seeking $189 million from this program. That’s down from their original request of $215 million. We expect them to approve the plan despite what you’re about […]

March 26, 2015 | Posted in Carolinas,House Guests | Read More »

The Day Before Our Day In Court

You probably heard we spent the day in court yesterday pressing our case for a preliminary injunction.  The decision can go one of three ways: The judge grants the preliminary injunction The judge denies the preliminary injunction, in which instance the case can still move forward The judges throw the case out. The key words […]

March 5, 2015 | Posted in Char-Meck Beat,House Guests | Read More »

NCDOT & Cintra Sign Agreement to Extend Financial Close to April

Since June 26 of last year we’ve been counting down to today, because a lack of announcement yesterday means Cintra missed the deadline for financial close. Missing this deadline means Cintra is supposed to forfeit a $15 million security deposit they made back when the contract was signed last June. Supposed to. The contract allows […]

January 26, 2015 | Posted in Char-Meck Beat,House Guests | Read More »

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