Re “Midway Rising transaction termed ‘fair and reasonable’” (Oct. 15): I take little comfort in San Diego’s Office of the Independent Budget Analyst declaring the Midway Rising deal “fair and reasonable.”
After all, this is the same independent budget analyst that reviewed and endorsed the Environmental Services Department’s Cost of Service Study before the City Council approved residential trash collection fees.
Residents were assured the analysis was sound, yet many were stunned by the size of the rates that ultimately emerged. Before city leaders ask taxpayers to trust another complex financial assessment, they should recognize that public confidence has already been weakened.
An “independent” review is only as credible as its results, and recent experience gives residents every reason to approach such assurances with healthy skepticism.
Instead, I recommend the city hire an out-of-state firm with knowledge of complex real estate transactions to perform the analysis.
— Michael Guerrero, El Cajon