An insignificant amount of money that is thought to be a lot of money by a blockheaded chump.
I see that Buchanan County, Missouri, signed a Grain Belt Express Road Use Agreement for chump change, seemingly because Randolph County did it first.
I see that Buchanan County, Missouri, signed a Grain Belt Express Road Use Agreement for chump change, seemingly because Randolph County did it first.
...in the Buchanan County Courthouse, where Grain Belt has agreed to pay more than $300,000 over 20 years to bring the power line through this area.
The deal, based on a similar agreement in Randolph County, would provide Buchanan County with one lump-sum payment of $75,000 plus $15,000 annually for 20 years.
So there Buchanan County was, in the catbird seat where it could have asked for anything in exchange for signing Grain Belt's agreement... and they settled for chump change.
Why is $75K up front and $15K a year an insignificant amount for Buchanan County? According to the Google Gods, Buchanan County's annual budget for 2022 was $85.6 million. That's MILLION. Those Grain Belt payments are hardly going to make a dent in that.
Grain Belt could be using (and abusing?) Buchanan County's roads during construction of GBE (if it actually ever finds any customers to create project revenue). The agreement says GBE will repair the roads after construction. Right. I'm sure GBE will cheerfully agree to repair every road it damages, even those off the haul routes, or ones where nobody has proof that GBE contractors caused the damage. The key point here is that GBE will only repair the roads that it agrees it damaged. I've yet to find a construction truck that admits or apologizes for road or berm damage. Good luck, Buchanan County!
Even after construction is "complete," the transmission line could be there for perpetuity and like any aging transmission line it may need repairs and upgrades. Good luck there, Buchanan County!
So, how much is $15K in Grain Belt's world? It would be like me flipping a dime at one of those professional panhandlers that stand at traffic lights pretending to be homeless. Did Buchanan County stop to consider (maybe even ask) how much revenue GBE could bring in if it ever finds any customers to pay for it? It's probably a lot more than $15,000 per year. It's probably more like $15,000 per hour.
Gosh, what a deal you made for your citizens, Buchanan County!
If they weren't sure of the relevance of $15K to GBE and whether or not it was a considerable sum for allowing GBE to cross county roads, maybe they could have assured that they were paid what it was worth by asking for a percentage of the annual profit, instead of a set sum that becomes less and less valuable over time as the value of money falls.
Chump: a foolish or easily deceived person.
Why is $75K up front and $15K a year an insignificant amount for Buchanan County? According to the Google Gods, Buchanan County's annual budget for 2022 was $85.6 million. That's MILLION. Those Grain Belt payments are hardly going to make a dent in that.
Grain Belt could be using (and abusing?) Buchanan County's roads during construction of GBE (if it actually ever finds any customers to create project revenue). The agreement says GBE will repair the roads after construction. Right. I'm sure GBE will cheerfully agree to repair every road it damages, even those off the haul routes, or ones where nobody has proof that GBE contractors caused the damage. The key point here is that GBE will only repair the roads that it agrees it damaged. I've yet to find a construction truck that admits or apologizes for road or berm damage. Good luck, Buchanan County!
Even after construction is "complete," the transmission line could be there for perpetuity and like any aging transmission line it may need repairs and upgrades. Good luck there, Buchanan County!
So, how much is $15K in Grain Belt's world? It would be like me flipping a dime at one of those professional panhandlers that stand at traffic lights pretending to be homeless. Did Buchanan County stop to consider (maybe even ask) how much revenue GBE could bring in if it ever finds any customers to pay for it? It's probably a lot more than $15,000 per year. It's probably more like $15,000 per hour.
Gosh, what a deal you made for your citizens, Buchanan County!
If they weren't sure of the relevance of $15K to GBE and whether or not it was a considerable sum for allowing GBE to cross county roads, maybe they could have assured that they were paid what it was worth by asking for a percentage of the annual profit, instead of a set sum that becomes less and less valuable over time as the value of money falls.
Chump: a foolish or easily deceived person.
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