Royal feudalism

To the Editor:

With regard to the obvious feudalism going on currently in St. Johnsbury, it is easy to determine who the feudal ruler really is. Shame!

First and foremost any credible financial institution, concerning a large project equal to the Pomerleau renovation, would have required a letter-of-intent, a signed utility lease (meaning a lease of at least 20 years) to be recorded in the land records, given the amount of capital investment and a business plan to any private business. In addition, they well could have asked that all utilities, be covered by separate entrances (to include electrical and phone blocks to ground, fax and cat #5) (as part of the lease -- to be paid by the leasee). Beyond, a requirement of escalation, a clause to cover the constant rising cost of fuel, each and every year.

If in fact a letter-of-intent does exist and a signed agreement of any kind can be found I do not believe it has been shared for (public review) -- at the very least offered for discussion.

Should any special feature to be included on behalf of the proposed tenant then that cost factor to be determined (more or less) up front should have come forward before construction to be held in escrow - also as part of the lease agreement.

Forgetting about grants and tax dollars of which we all share a significant interest as a community, this all could be labeled at the very least a very sloppy piece of business to be sure.

Moreover many bridges could have been burned, to include NEK chamber, the Senator Sanders office and more -- a pathetic shame.

Now, how to correct it going forward. Let's make certain we are on the side of caution to the point of secure, prudent and judicious business to the extent of straight-laced.

Why? Beware of the Establishment! Because, in this case the money belongs to each and every taxpayer, rich and poor alike.

Nancy Cohen

St. Johnsbury, Vt.

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