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St. Louis Post-Dispatch

Lee Enterprises

Friday, August 29, 2008 8:34 PM CDT
Griffin: Monetary support of project remaining strong

By HERB MEEKER, Staff Writer
hmeeker@jg-tc.com

MATTOON — Financial pledges are not disappearing in Coles Together’s fundraiser for the FutureGen power plant land purchase.

And that is despite some of the “What If?” questions on the future of FutureGen in Coles County.

Coles Together President Angela Griffin said local support has not wavered despite the letdowns in bringing FutureGen here. That includes the announcement earlier this year by the U.S. Department of Energy to withdraw federal support for FutureGen Alliance plans to build the $1.8 billion near-zero emissions coal plant plant west of Mattoon.

“Our people are following through with their pledges. (Even after the DOE announcement) we’ve not had one single donor wanting to reconsider or pull out,” Griffin said.

Coles Together has committed $3 million of the $6.5 million land purchase of more than 400 acres and two residences. This commitment was part of Mattoon’s best offer in the site selection process that ended in December. FutureGen Alliance is providing the remaining $3.5 million.

Griffin said the pledges have not been the only concern for Coles Together as the process continues to bring the construction project with hundreds of jobs to Coles County. And she added that the privacy of the donors is a priority as this point.

“While many citizens and businesses have donated resources to the FutureGen project and our campaign to raise funds to assist with the land purchase, we have concentrated more recently on efforts to move the project forward and to work with our elected officials to keep the momentum strong in Washington, D.C. The fundraising campaign will be something that we revisit in the near future. Suffice it to say that many people, businesses and organizations have donated to the effort and those donations have been in varying amounts. However, these are private donations by private entities and we respect the privacy of our supporters,” Griffin explained.

The goal is to close the land deals by the end of 2008 — earlier this month the land purchase options were exercised. And cash from some contributors is now on account, Griffin said.

“We have cash to cover part of the purchases now,” she said.

Griffin said Coles Together has $3 million in pledges now, including more than two-thirds of the amount in cash.

Coles Together was backed up by a letter of credit approved by the city of Mattoon through First Mid-Illinois Bank & Trust. This credit backing was needed to prevent any delay of the land purchases due to a time lapse between receipt of some donors’ cash and the closure on the property sales.

But the question in Mattoon is whether city taxpayers could end up doling out money if the FutureGen project does not go forward. Griffin said there is plenty of backup to prevent such a scenario.

“We have assets with Coles Together,” said Griffin, referring to a statement of financial position dated last year before the donations showing $748,468 in total assets.

If the project does go by the wayside, the land would go to FutureGen Alliance, which is a non-profit entity. That could offer the possibility of a land donation to Coles Together so the property could be sold for another commercial project in the near future. Or Coles Together, as a non-profit organization, could donate the land to the city of Mattoon for future development.

“If the worst of worse happens, then the Alliance donates the land back to the community. But what everyone anticipates is if FutureGen is not built then something very desirable will be built there. There are many opportunities to develop the land. A hundred completely unrealistic things would have to happen for the city to pay money on the land. I don’t see that happening.”

Contact Herb Meeker at hmeeker@jg-tc.com or 238-6869.

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gringa wrote on Aug 29, 2008 10:42 PM:

" *Suffice it to say that many people, businesses and organizations have donated to the effort and those donations have been in varying amounts. However, these are private donations by private entities and we respect the privacy of our supporters, Griffin explained.*

Coles Together is 100% owned by the taxpayers of Coles County. Anything Coles Together does should be a matter of public record. Everything about Coles Together should be fully disclosed, especially the financial records. If there are private donors to Coles Together, the public has a RIGHT to know who gave how much and WHY.

I'm a big supporter of FutureGen and I always have been; however, this secrecy smacks of something very wrong!! If a private group of people, businesses and organizations want to pool their money and buy some land for FutureGen, thats fine, but channeling this private money to FutureGen via Coles Together is full of improprieties!

One of the reasons I object so strenuously to the way this is being handled is because my family home is only about a mile east of the FutureGen site. If FutureGen doesnt come, will Coles Together decide its OK to build another land fill on that 425 acres? Or something else equally undesirable? Impropriety is being justified to cover up private land deals! Very suspicious indeed.

I challenge Lee Publications to pursue these secret financial transactions via the FOIA! This sounds a whole lot like the good ol boy network to me. When dealing with public affairs, the ends do not justify the means. "

Chris 2.0 wrote on Aug 30, 2008 1:37 PM:

" gringa, Coles Together is a private non-for profit corporation, not a public entity. FOIA does not apply to them. "

Mike P wrote on Aug 30, 2008 3:50 PM:

" Take a lot of possibly could donates in one hand, and place a lot of double talk, placating, and privacy non disclosure, compost in the other. See which one fills up first.

Locals getting reasonable electricity, for hosting, financing, and risking, for this project should have been the first thing negotiated before one study was authorized.

If it were to fall through, I would reasonably expect investors, non profit or not, want their money back. Mattoon can't afford half of the over paid for land, let alone to pay the rest, when not for profit goes chapter 11, or is just disolved.

Measures need to be taken to protect the taxpayer. The Bank will expect its money when it wants it. The bank isn't a non profit group, and wouldn't pay that much for land in the first place.

It will be more than 20 years from the last TIF or Business districts authorization, before things are more solvent when it comes to tax revenue. It is being thrown out like candy at an invitation only city parade. One bucket of it after another.

Soon the only way to afford to have lived through these transactions will be to leave the municipality that spent so irresponsibly. A mass exodus will likely occur, and still have time left for tax deferments to run out. Why would anyone in their right mind, come here if this is how dollars they don't even have, getting defered over the next 20 years, are handled. While sidewalks go ignored, parks are neglected, and oil chip or slag is used to repair streets, but imaginary money can still somehow flow like water. "

gringa wrote on Aug 31, 2008 11:11 AM:

" Chris 2.0, thanks for the insight. I have to admit that I only assumed Coles Together is publically funded. If Coles Together is, in fact, a private non-for-profit corporation, perhaps you know the source of its original (and continuing) funding. Is it another one of those pseudo-private/public entities (like Sarah Bush Lincoln Health Center) that is originated in part with public funds and then is allowed to operate as if it has no accountability to the taxpayers? Is that what were dealing with here? "

The Question wrote on Aug 31, 2008 12:03 PM:

" That is EXACTLY what we're dealing with here, Gringa. "

The Question wrote on Aug 31, 2008 12:08 PM:

" Yes, the monetary support for FutureDead is great! Just a few billion short, that's all! "

voltaire wrote on Aug 31, 2008 1:09 PM:

" Here is a list of their board members, albeit a bit outdated.

http://www.colestogether.com/aboutct.htm "

Chris . wrote on Aug 31, 2008 4:56 PM:

" There old website, which is still onlie, has a list of their 2003 contributers
http://www.colestogether.com/2003contrib.htm
It is mostly private companies, but City of Charleston, City of Mattoon and Coles County board are also listed.

The 2007/2008 City of Mattoon budget shows they paid $60,000 for membership dues to Coles Together. Though Coles Together isn't mentioned by name in the 08/09 budget there is a $60,000 line item with the same account code as the 07/08 budget (110-5651-571)

The 07/08 City of Charleston budget is online, but not in a searchable format. Here it is if you want to look http://tinyurl.com/666ar7

I can't find a budget for the Coles County board "