1 00:00:00,360 --> 00:00:04,360 Speaker 1: Hey, Michael, just turned down the KOA to listen to 2 00:00:04,440 --> 00:00:06,560 Speaker 1: the beginning of your show, and guess what the first 3 00:00:06,559 --> 00:00:10,080 Speaker 1: commercial was. It was the Cars for Kids commercial. Yay, 4 00:00:10,720 --> 00:00:13,880 Speaker 1: last time to donate your car for twenty twenty. 5 00:00:13,560 --> 00:00:17,840 Speaker 2: Five Cars for GAGS. 6 00:00:18,400 --> 00:00:19,480 Speaker 3: Car's prograts. 7 00:00:19,600 --> 00:00:21,919 Speaker 2: But she's not wrong, and you get it in before 8 00:00:21,960 --> 00:00:24,799 Speaker 2: the end of the year, You're you're set. I you know, 9 00:00:25,920 --> 00:00:27,920 Speaker 2: that's why the big push, that's probably why you hear. 10 00:00:28,280 --> 00:00:32,160 Speaker 2: You believe that you hear so many more. Well, because 11 00:00:32,159 --> 00:00:33,959 Speaker 2: they want to you know, you you want to get 12 00:00:33,960 --> 00:00:38,000 Speaker 2: that text credit. It's gonna be good or deduction or 13 00:00:38,120 --> 00:00:40,000 Speaker 2: whatever the hell it is. I've always wondered. 14 00:00:40,159 --> 00:00:44,880 Speaker 4: So you have U for example, Gina has the commercials 15 00:00:45,159 --> 00:00:48,960 Speaker 4: does for JFR or JRF or something JR cars. Yeah, okay, 16 00:00:49,040 --> 00:00:51,120 Speaker 4: so and she and I were talking during the break 17 00:00:51,159 --> 00:00:54,280 Speaker 4: about how that was the first time she's purchased a 18 00:00:54,320 --> 00:00:57,360 Speaker 4: car that way because she doesn't like going to the dealership. 19 00:00:57,800 --> 00:01:01,040 Speaker 4: I don't know. In fact, Gina back in here. We 20 00:01:01,120 --> 00:01:03,040 Speaker 4: need to find out whether or not whether or not 21 00:01:03,160 --> 00:01:04,280 Speaker 4: she traded. 22 00:01:03,960 --> 00:01:11,280 Speaker 3: Her car in. Oh, is she seriously okay, she's actually 23 00:01:11,319 --> 00:01:13,880 Speaker 3: coming back in. I can't believe you're. 24 00:01:13,760 --> 00:01:15,360 Speaker 2: Doing this I have a cookie in my mom. 25 00:01:15,520 --> 00:01:17,440 Speaker 3: Okay, well let's smokey. Who cares? 26 00:01:17,959 --> 00:01:21,120 Speaker 4: So we're joking about the cars for kids commercial and 27 00:01:21,560 --> 00:01:25,160 Speaker 4: how is the time to turn your car in right 28 00:01:25,319 --> 00:01:26,480 Speaker 4: to get your tax deduction? 29 00:01:26,720 --> 00:01:26,880 Speaker 1: Oh? 30 00:01:26,880 --> 00:01:28,000 Speaker 2: I did not trade in my. 31 00:01:27,959 --> 00:01:28,399 Speaker 4: Car to car. 32 00:01:29,480 --> 00:01:33,400 Speaker 3: Question that was going to be who trades in there? 33 00:01:33,440 --> 00:01:36,080 Speaker 4: Who turns their what kind of crap do they turn 34 00:01:36,240 --> 00:01:39,000 Speaker 4: in that they wouldn't go to a car dealership and 35 00:01:39,040 --> 00:01:39,560 Speaker 4: trade in. 36 00:01:39,840 --> 00:01:41,119 Speaker 3: So I assume you got a good deal. 37 00:01:41,560 --> 00:01:44,080 Speaker 5: Oh yeah, absolutely I did, and I'm and I'm very 38 00:01:44,080 --> 00:01:46,840 Speaker 5: happy with it. But but uh, Michael, I think the 39 00:01:46,880 --> 00:01:48,800 Speaker 5: funnier one that I hear, which I don't even know 40 00:01:48,840 --> 00:01:49,520 Speaker 5: if I hear. 41 00:01:49,360 --> 00:01:50,400 Speaker 2: In Colorado anymore. 42 00:01:50,400 --> 00:01:52,400 Speaker 5: Maybe this was a Michigan or Florida spot was when 43 00:01:52,400 --> 00:01:55,720 Speaker 5: they used to always say you can trade in your boat, and. 44 00:01:55,760 --> 00:01:59,840 Speaker 2: I was trading your boat? Why? 45 00:02:00,760 --> 00:02:03,120 Speaker 4: I don't know that one of my Limburgers is old. 46 00:02:03,160 --> 00:02:05,080 Speaker 4: Maybe they could trade her in for a new Limburger 47 00:02:06,080 --> 00:02:08,480 Speaker 4: deduction for the limb because I groomed them yesterday. It 48 00:02:08,520 --> 00:02:11,360 Speaker 4: cost me a boatload of money. But I was just 49 00:02:11,520 --> 00:02:15,080 Speaker 4: thinking about who turns what and what kind of car 50 00:02:15,320 --> 00:02:18,200 Speaker 4: is it that you turn into cars for kids? Because 51 00:02:18,240 --> 00:02:20,720 Speaker 4: it's gonna be, you know, a royal piece of crap. 52 00:02:21,040 --> 00:02:24,240 Speaker 2: I mean, I don't know. I could tell you, yeah, I. 53 00:02:24,240 --> 00:02:24,560 Speaker 3: Tell you what. 54 00:02:24,639 --> 00:02:26,920 Speaker 4: Well, here, here's your receipt for the for the for 55 00:02:26,960 --> 00:02:29,680 Speaker 4: the nineteen. Well I can't actually, if I go too old, 56 00:02:29,680 --> 00:02:31,799 Speaker 4: it'll be an antique car that might be worth something. 57 00:02:32,160 --> 00:02:34,400 Speaker 4: But let's say you turned in your you know, your 58 00:02:34,480 --> 00:02:38,919 Speaker 4: two thousand Kia that's worth one thousand dollars or eight 59 00:02:39,000 --> 00:02:41,400 Speaker 4: hundred dollars, and you get an eight hundred dollars tax deduction. 60 00:02:41,680 --> 00:02:44,600 Speaker 4: Now to take the benefit of the eight hundred dollars 61 00:02:44,680 --> 00:02:48,280 Speaker 4: tax deduction, you've got to be in that category where 62 00:02:48,320 --> 00:02:49,920 Speaker 4: you're itemizing your deductions. 63 00:02:49,919 --> 00:02:50,760 Speaker 3: Other way you can't. 64 00:02:50,560 --> 00:02:52,760 Speaker 2: Take it off, right Yep. 65 00:02:53,720 --> 00:02:55,880 Speaker 5: Well, I gotta say, is JFR gave me way more 66 00:02:55,880 --> 00:02:56,639 Speaker 5: than cars for Kids. 67 00:02:58,240 --> 00:02:58,960 Speaker 2: So thank JF. 68 00:02:59,520 --> 00:03:03,000 Speaker 4: Now that's the point. See, that's the new tagline for JFR. 69 00:03:03,760 --> 00:03:06,360 Speaker 4: Just just tell your friends that JFR the new tagline 70 00:03:06,400 --> 00:03:08,360 Speaker 4: is we'll give you more than cars for kids. 71 00:03:08,400 --> 00:03:10,440 Speaker 5: I really hope Cars for Kids does not listening. 72 00:03:11,880 --> 00:03:14,120 Speaker 4: I just don't see the problem is it's all me 73 00:03:14,280 --> 00:03:16,840 Speaker 4: is not genough, Cars for Kids is upset. Its Michael Brown. 74 00:03:16,880 --> 00:03:20,600 Speaker 4: Michael Brownlieartmedia dot Com. I don't care anyway, Thanks for 75 00:03:20,600 --> 00:03:23,119 Speaker 4: coming back. I forgot that you could hear out there 76 00:03:23,160 --> 00:03:24,040 Speaker 4: while you're doing it. 77 00:03:25,440 --> 00:03:27,680 Speaker 2: We're not in the trailer park station anymore. We're on 78 00:03:27,680 --> 00:03:28,200 Speaker 2: the big. 79 00:03:28,080 --> 00:03:30,960 Speaker 4: Fix station where they actually where they actually listen to 80 00:03:31,000 --> 00:03:34,480 Speaker 4: what we're saying out there in the pit. Oh wait 81 00:03:34,520 --> 00:03:37,040 Speaker 4: a minute, they're listening to what we say out in 82 00:03:37,040 --> 00:03:37,360 Speaker 4: the pit. 83 00:03:37,560 --> 00:03:39,080 Speaker 2: Don't worry the bosses aren't listening. 84 00:03:39,280 --> 00:03:41,760 Speaker 4: Well, of course. Why there's a Broncos game this weekend? 85 00:03:42,080 --> 00:03:43,200 Speaker 4: Two inchs out of town. 86 00:03:43,560 --> 00:03:43,760 Speaker 2: Three. 87 00:03:43,800 --> 00:03:46,640 Speaker 4: It's a Friday, and it's kind of it's kind of 88 00:03:46,640 --> 00:03:49,800 Speaker 4: a nice day out now. I did see Jessica here. 89 00:03:49,880 --> 00:03:53,920 Speaker 4: Jessica's here. She's always that's right, she's always here. But 90 00:03:54,000 --> 00:03:56,520 Speaker 4: the pit was empty when I came in this morning, 91 00:03:56,640 --> 00:04:01,160 Speaker 4: totally empty. Tempers. Well, he may be, he might be listening. 92 00:04:01,280 --> 00:04:02,360 Speaker 4: He's still laying in bed. 93 00:04:02,280 --> 00:04:04,480 Speaker 2: Right, he's a night out right, he's still laying in bed. 94 00:04:04,600 --> 00:04:06,720 Speaker 2: Get those emails, some temper at eight thirty at nights, like, dude, 95 00:04:06,720 --> 00:04:08,320 Speaker 2: I'm already in bed. 96 00:04:07,800 --> 00:04:10,119 Speaker 4: I know. I actually felt badly the other day because 97 00:04:10,120 --> 00:04:11,960 Speaker 4: I had a little vacation screw up on work. 98 00:04:12,040 --> 00:04:15,720 Speaker 3: They imagine that a app having a problem. 99 00:04:15,600 --> 00:04:20,640 Speaker 4: And I hesitated for just a second about emailing him 100 00:04:20,680 --> 00:04:23,320 Speaker 4: that I thought, screw this. If I email him at 101 00:04:23,320 --> 00:04:25,720 Speaker 4: eight o'clock in the morning, he's going to be pissed off. 102 00:04:25,920 --> 00:04:28,159 Speaker 4: If I email him at eight or nine o'clock at night, 103 00:04:28,160 --> 00:04:29,000 Speaker 4: he's going to be right away. 104 00:04:29,040 --> 00:04:32,320 Speaker 2: And he's probably here at eight o'clock. 105 00:04:32,080 --> 00:04:35,840 Speaker 4: Exactly exactly as opposed to dirt bags like you. By 106 00:04:35,880 --> 00:04:39,760 Speaker 4: the way, Dragon really pissed me off yesterday. Dragon really 107 00:04:39,800 --> 00:04:42,679 Speaker 4: pissed me off yesterday. So I have a little routine 108 00:04:42,720 --> 00:04:45,080 Speaker 4: that I do after the program. I am just in 109 00:04:45,080 --> 00:04:47,480 Speaker 4: this kind of mood today. I'm just in this kind 110 00:04:47,480 --> 00:04:50,960 Speaker 4: of mood. So this may be one of the first 111 00:04:50,960 --> 00:04:53,960 Speaker 4: fridays where the new audience goes, what the hell is 112 00:04:54,000 --> 00:04:58,080 Speaker 4: going on? And you know what, don't do not worry 113 00:04:58,080 --> 00:05:00,839 Speaker 4: about it, don't try to fight it, because we don't care. 114 00:05:01,000 --> 00:05:03,800 Speaker 2: And sometimes you just need to just let it go. 115 00:05:03,880 --> 00:05:05,719 Speaker 2: With everything that's going on in the world right now, 116 00:05:05,800 --> 00:05:08,840 Speaker 2: you just gotta. 117 00:05:09,560 --> 00:05:13,680 Speaker 4: I So I I keep my I use my MacBook Pro. 118 00:05:13,760 --> 00:05:16,560 Speaker 4: It's sitting right here in front of me. I've got 119 00:05:16,720 --> 00:05:19,599 Speaker 4: now of course, here we've been reduced from two monitors 120 00:05:19,600 --> 00:05:24,480 Speaker 4: to one monitor, so I've got my phone, my MacBook Pro, 121 00:05:24,600 --> 00:05:26,839 Speaker 4: and then the one monitor, which I've got about three 122 00:05:26,880 --> 00:05:30,000 Speaker 4: windows open on it, but anyway, it's close enough to 123 00:05:30,080 --> 00:05:33,680 Speaker 4: me for all my notes and show prep that as 124 00:05:33,760 --> 00:05:40,720 Speaker 4: I talk I tend to spit on the monitor at 125 00:05:40,839 --> 00:05:43,080 Speaker 4: the monitor, so I go over to my little cubicle 126 00:05:43,120 --> 00:05:45,479 Speaker 4: when I finish the program and I and I turn 127 00:05:45,520 --> 00:05:47,279 Speaker 4: it off, let it cool off for just a second, 128 00:05:47,320 --> 00:05:50,200 Speaker 4: and then I have some you know, some Apple approved 129 00:05:50,240 --> 00:05:51,960 Speaker 4: you know spray to clean the you know, so you 130 00:05:51,960 --> 00:05:56,400 Speaker 4: don't screw up the the whatever they coat the screen with. 131 00:05:56,880 --> 00:05:59,320 Speaker 4: And then I very carefully wipe it off, and I've 132 00:05:59,360 --> 00:06:01,719 Speaker 4: got an all off and I'm just about ready to 133 00:06:01,720 --> 00:06:04,000 Speaker 4: put it back to my backpack, and the dirt bag 134 00:06:04,120 --> 00:06:07,480 Speaker 4: Dragon Redbeard walks by and takes his greasy fingers where 135 00:06:07,520 --> 00:06:10,200 Speaker 4: he's been picking his nose throughout the program and just 136 00:06:10,480 --> 00:06:12,200 Speaker 4: runs his fingers across my screen. 137 00:06:12,400 --> 00:06:16,039 Speaker 2: That's great, but here's the You had the wipe in 138 00:06:16,080 --> 00:06:18,440 Speaker 2: your hand. I wasn't sure if you had just started 139 00:06:18,520 --> 00:06:19,520 Speaker 2: or had just finished. 140 00:06:20,040 --> 00:06:21,240 Speaker 3: You hope me I had just finished. 141 00:06:21,279 --> 00:06:23,560 Speaker 2: The fact that you just finished made it so much. 142 00:06:23,600 --> 00:06:25,919 Speaker 4: And you were hoping I'd just finished. But that's not 143 00:06:26,000 --> 00:06:28,799 Speaker 4: the part that really irritates me. The part that irritates 144 00:06:28,839 --> 00:06:32,360 Speaker 4: me is that we know each other so well that 145 00:06:32,839 --> 00:06:34,600 Speaker 4: I finished. 146 00:06:34,800 --> 00:06:36,880 Speaker 2: And I was walking by because I was going from 147 00:06:37,080 --> 00:06:38,559 Speaker 2: this show to the other show and I just needed 148 00:06:39,000 --> 00:06:41,920 Speaker 2: a real quick restroom break. So I'm walking past your desk, 149 00:06:42,000 --> 00:06:46,159 Speaker 2: see that you had finished, went and took off, walk 150 00:06:46,200 --> 00:06:47,440 Speaker 2: into the bathroom right and. 151 00:06:47,360 --> 00:06:49,479 Speaker 4: Then so I had to redo it. And then I 152 00:06:49,560 --> 00:06:51,920 Speaker 4: put it in my backpack and let and didn't zip 153 00:06:52,000 --> 00:06:52,760 Speaker 4: up the backpack. 154 00:06:53,279 --> 00:06:56,040 Speaker 2: And then I went to the restroom as and then 155 00:06:56,080 --> 00:06:59,080 Speaker 2: we cross paths, so I see that he's left his 156 00:06:59,240 --> 00:07:03,240 Speaker 2: desk alone. I walked past the open backpack and go 157 00:07:05,240 --> 00:07:06,320 Speaker 2: I didn't, And. 158 00:07:06,680 --> 00:07:11,400 Speaker 4: For one time in your life, one singular time, you 159 00:07:11,520 --> 00:07:16,440 Speaker 4: made the professional decision not to take my laptop out 160 00:07:16,480 --> 00:07:19,160 Speaker 4: of my own backpack and open it up and smear 161 00:07:19,200 --> 00:07:21,680 Speaker 4: your greasy little fingers all over my screen again. But 162 00:07:21,720 --> 00:07:25,360 Speaker 4: the sad part is this, This is the saddest part. 163 00:07:25,880 --> 00:07:29,400 Speaker 4: I come back from taking a whiz and I think, this, 164 00:07:29,560 --> 00:07:32,240 Speaker 4: son of a bitch, he's walked past here, and I 165 00:07:32,280 --> 00:07:35,120 Speaker 4: bet he's taken my laptop out and he's done it again. 166 00:07:35,480 --> 00:07:38,640 Speaker 4: So I pulled it out and open it again to 167 00:07:38,880 --> 00:07:40,680 Speaker 4: check to see if you had done it again. 168 00:07:42,000 --> 00:07:43,480 Speaker 3: Oh that's glorious. 169 00:07:45,400 --> 00:07:47,840 Speaker 4: What's sad about it is is we know each other 170 00:07:48,080 --> 00:07:48,920 Speaker 4: way too well. 171 00:07:49,080 --> 00:07:51,680 Speaker 2: I really thought about it. I knew you thought about it, 172 00:07:51,720 --> 00:07:52,400 Speaker 2: and I. 173 00:07:52,120 --> 00:07:54,240 Speaker 4: Thought you had done it. In fact, there was a 174 00:07:54,360 --> 00:07:56,680 Speaker 4: little part of me that was kind of disappointed that 175 00:07:56,680 --> 00:07:57,320 Speaker 4: you hadn't done it. 176 00:07:57,360 --> 00:07:58,680 Speaker 2: I didn't have the time. I had to start the 177 00:07:58,680 --> 00:07:59,160 Speaker 2: other show. 178 00:08:00,200 --> 00:08:03,000 Speaker 4: Since when do you care about starting a show in time? Well, 179 00:08:03,040 --> 00:08:06,360 Speaker 4: not this one, all the others. Yeah, all the other programs, 180 00:08:06,360 --> 00:08:08,800 Speaker 4: all the other programs. All right, so let's get started, 181 00:08:09,320 --> 00:08:12,480 Speaker 4: because say, oh, today's Friday. Let me just give everybody 182 00:08:12,480 --> 00:08:18,440 Speaker 4: a warning. So at eleven am, we do taxpayer relief 183 00:08:18,480 --> 00:08:22,600 Speaker 4: shots and I just loaded them into Adobe Audition, or 184 00:08:22,640 --> 00:08:25,720 Speaker 4: I just opened Adobe Audition. Dragon actually loads them into dough. 185 00:08:25,920 --> 00:08:28,480 Speaker 4: Now then we get two technical here, but I just look. Yes, 186 00:08:28,520 --> 00:08:30,920 Speaker 4: some award winners. We got quite a few. We got 187 00:08:30,920 --> 00:08:33,480 Speaker 4: more than we can probably get done today. So get 188 00:08:33,520 --> 00:08:36,000 Speaker 4: ready for bear. We're going to talk about We're going 189 00:08:36,040 --> 00:08:40,719 Speaker 4: to listen to people in the defensive use of firearm. 190 00:08:40,760 --> 00:08:43,439 Speaker 4: And Michael practices his double click back and I practiced 191 00:08:43,440 --> 00:08:46,559 Speaker 4: my double click oho. I seemed to be doing slightly 192 00:08:46,640 --> 00:08:48,160 Speaker 4: better over here than I was over there. 193 00:08:48,280 --> 00:08:51,160 Speaker 2: It's only been three weeks over here. It's you can't 194 00:08:51,200 --> 00:08:54,720 Speaker 2: compare years over there to just a handful. 195 00:08:54,840 --> 00:09:00,280 Speaker 4: No, no, maybe it's because I'm actually, uh, what well 196 00:09:00,720 --> 00:09:04,680 Speaker 4: the mouse is. You can still read the serial number 197 00:09:04,720 --> 00:09:06,240 Speaker 4: and everything in the back of a mouse, so the 198 00:09:06,280 --> 00:09:09,959 Speaker 4: mouse is still relatively new. It's actually a fairly good mouse. 199 00:09:09,960 --> 00:09:13,120 Speaker 4: It's very sensitive, operates very well, and if I just 200 00:09:13,160 --> 00:09:15,840 Speaker 4: happened to touch it, it doesn't screw what's going on 201 00:09:15,960 --> 00:09:20,160 Speaker 4: the on the screen. So there's that going too. I 202 00:09:21,840 --> 00:09:23,480 Speaker 4: for those of you that did not know, I did 203 00:09:23,480 --> 00:09:25,120 Speaker 4: this before I came over to Kowa. When I was 204 00:09:25,120 --> 00:09:31,840 Speaker 4: over at khow kh Ow, I had canceled my subscription 205 00:09:31,960 --> 00:09:35,800 Speaker 4: to the Denver Post years ago. I mean I'm talking 206 00:09:35,840 --> 00:09:39,920 Speaker 4: probably ten years ago. I just canceled it. I couldn't 207 00:09:39,960 --> 00:09:44,240 Speaker 4: take it anymore then. They because every once while they 208 00:09:44,360 --> 00:09:46,280 Speaker 4: send me an email, you know, hey, we got a 209 00:09:46,280 --> 00:09:49,480 Speaker 4: special going on. We got a special going on. I delete, delete, delete, delete. 210 00:09:49,840 --> 00:09:50,400 Speaker 3: I get an. 211 00:09:50,320 --> 00:09:54,520 Speaker 4: Email that says we're offering you a one year subscription 212 00:09:55,160 --> 00:09:56,280 Speaker 4: for one dollar. 213 00:09:56,760 --> 00:10:00,360 Speaker 3: One dollar, So I thought, you know what, I'm going 214 00:10:00,440 --> 00:10:01,600 Speaker 3: to do it now. 215 00:10:01,640 --> 00:10:05,160 Speaker 4: It says that automatically renews unless you cancel before. So 216 00:10:05,240 --> 00:10:09,160 Speaker 4: I have on my calendar four days before the expiration 217 00:10:09,320 --> 00:10:14,840 Speaker 4: date a note in my calendar to cancel my Denver 218 00:10:14,880 --> 00:10:18,600 Speaker 4: Post subscription. Now, if they offered it for a dollar again, 219 00:10:19,000 --> 00:10:21,320 Speaker 4: which about is what it's worth a dollar a year, 220 00:10:21,600 --> 00:10:23,920 Speaker 4: that comes out to what the dollar divided by three 221 00:10:24,000 --> 00:10:25,360 Speaker 4: hundred and sixty five is what I mean. 222 00:10:25,360 --> 00:10:26,960 Speaker 3: I don't know what it is, but whatever that is, 223 00:10:27,320 --> 00:10:27,760 Speaker 3: you know, for. 224 00:10:27,760 --> 00:10:30,559 Speaker 4: A few pennies, then it might be worth it only, 225 00:10:30,600 --> 00:10:33,600 Speaker 4: and it's only worth it because, for example, when I'm 226 00:10:33,640 --> 00:10:36,400 Speaker 4: doing show prep yesterday, I run across the story that 227 00:10:36,440 --> 00:10:42,640 Speaker 4: catches my attention. Here's the headline, affordable housing developer in 228 00:10:42,760 --> 00:10:47,520 Speaker 4: final stages of converting the former Johnson and Wales dorms 229 00:10:47,640 --> 00:10:53,400 Speaker 4: into apartments. Here's the sub hit. Archway Communities is converting 230 00:10:53,480 --> 00:10:58,000 Speaker 4: two former residence halls in South park Hill into fifty 231 00:10:58,000 --> 00:11:04,319 Speaker 4: eight apartments as part of a forty five million dollar 232 00:11:04,480 --> 00:11:09,920 Speaker 4: development in Denver. And I thought to myselfself, wait a minute, 233 00:11:10,800 --> 00:11:16,920 Speaker 4: who's making money on this? Nobody does anything for free, 234 00:11:17,160 --> 00:11:20,400 Speaker 4: even the little pittance, I mean, even the pittance that 235 00:11:20,480 --> 00:11:23,480 Speaker 4: I get paid to do this program till means I 236 00:11:23,520 --> 00:11:27,720 Speaker 4: don't do this road program for free. Dragon who gets 237 00:11:27,720 --> 00:11:30,520 Speaker 4: paid twenty times more than what I do, doesn't do 238 00:11:30,640 --> 00:11:32,640 Speaker 4: his producing for free. 239 00:11:32,679 --> 00:11:34,480 Speaker 3: Nobody does anything for free. 240 00:11:35,440 --> 00:11:40,080 Speaker 4: And when you got a so called public private partnership, 241 00:11:40,720 --> 00:11:44,160 Speaker 4: somebody's making a boatload of money. So I read the 242 00:11:44,200 --> 00:11:47,320 Speaker 4: story and then did a little background check. Let me 243 00:11:47,400 --> 00:11:51,400 Speaker 4: just tell you a few highlights from the story. Two 244 00:11:51,640 --> 00:11:57,359 Speaker 4: local income restricted housing developers. Wow, you're a housing developer, 245 00:11:57,920 --> 00:12:02,240 Speaker 4: but you focus on income reyco restricted. So how do 246 00:12:02,240 --> 00:12:05,839 Speaker 4: you make your money? Now it's pretty obvious. We'll get 247 00:12:05,840 --> 00:12:08,040 Speaker 4: into the details in a minute. You can be any 248 00:12:08,120 --> 00:12:11,040 Speaker 4: kind of developer, you can call yourself anything you want to. 249 00:12:11,520 --> 00:12:15,439 Speaker 4: But if all you build are income restricted housing, then 250 00:12:15,480 --> 00:12:19,360 Speaker 4: that means you're getting money from somewhere. And if it's 251 00:12:19,440 --> 00:12:23,640 Speaker 4: income restricted, it means you're not getting any, if very little, 252 00:12:23,679 --> 00:12:29,280 Speaker 4: money from the people who actually live in reside, rent 253 00:12:29,440 --> 00:12:35,200 Speaker 4: own or whatever the housing that you develop. So where's 254 00:12:35,200 --> 00:12:38,920 Speaker 4: it coming from? Then all of a sudden you hear 255 00:12:39,160 --> 00:12:44,640 Speaker 4: about something called Archway Communities. And here's the second paragraph. 256 00:12:44,800 --> 00:12:49,559 Speaker 4: Archway Communities is turning two former residence halls just off 257 00:12:49,600 --> 00:12:52,880 Speaker 4: the corner of Quebec Street and Seventeenth Avenue on the 258 00:12:52,920 --> 00:12:56,720 Speaker 4: campus into fifty eight apartments. The four other dorms on 259 00:12:56,800 --> 00:13:04,400 Speaker 4: campus already have been converted. Oh so this drift has 260 00:13:04,480 --> 00:13:09,120 Speaker 4: been going on for quite some time. You finally get 261 00:13:09,160 --> 00:13:12,000 Speaker 4: to the third paragraph of the story and it hits you. 262 00:13:13,200 --> 00:13:19,240 Speaker 4: Development costs are estimated at forty five million dollars. Archway 263 00:13:19,400 --> 00:13:24,280 Speaker 4: Communities submitted its development proposal to the City and County 264 00:13:24,320 --> 00:13:30,839 Speaker 4: of Denver last month, according to Archway CEO Laura Brazinski, 265 00:13:30,880 --> 00:13:34,920 Speaker 4: and she told Total told Business den which I guess 266 00:13:35,000 --> 00:13:35,880 Speaker 4: is part of the Denver Post. 267 00:13:35,920 --> 00:13:37,680 Speaker 3: I don't know. Quote. 268 00:13:38,160 --> 00:13:40,959 Speaker 4: There are major renovations that are needed to modernize these 269 00:13:40,960 --> 00:13:43,720 Speaker 4: buildings that were built in the nineteen thirties, to bring 270 00:13:43,760 --> 00:13:47,079 Speaker 4: them to current code requirements and current needs, but also 271 00:13:47,160 --> 00:13:50,400 Speaker 4: to ensure that we're aligning the appropriate layout for one, 272 00:13:50,440 --> 00:13:54,640 Speaker 4: two and three bedrooms. The redevelopment is the latest effort 273 00:13:55,320 --> 00:13:59,440 Speaker 4: by whom who. The redevelopment is the latest effort to 274 00:13:59,480 --> 00:14:02,280 Speaker 4: refashion twenty five acre campus, which. 275 00:14:02,200 --> 00:14:04,600 Speaker 3: Was purchased for sixty two. 276 00:14:04,640 --> 00:14:10,320 Speaker 4: Million dollars in twenty twenty one by local nonprofit Urban 277 00:14:10,559 --> 00:14:16,960 Speaker 4: Land Conservancy after Johnson and Wales closed it. Urban Land Conservancy, 278 00:14:17,480 --> 00:14:23,760 Speaker 4: which purchases and preserves land for income Restricted Development immediately 279 00:14:24,520 --> 00:14:28,480 Speaker 4: turned around and sold some of the land to the 280 00:14:28,520 --> 00:14:33,320 Speaker 4: Denver Housing Authority in Denver Public schools. Was a lot 281 00:14:33,320 --> 00:14:37,960 Speaker 4: of transactions going on here. In just the short to 282 00:14:38,080 --> 00:14:41,720 Speaker 4: see one, two, three, four, five, six paragraphs, I think 283 00:14:41,760 --> 00:14:48,840 Speaker 4: I've counted probably five or six different transactions where deeds 284 00:14:48,840 --> 00:14:53,440 Speaker 4: of trust and cashier's checks or. 285 00:14:53,400 --> 00:14:56,400 Speaker 3: Cash or money have changed hands. 286 00:14:57,440 --> 00:15:02,200 Speaker 4: Every time somebody enters into it transaction and you handle 287 00:15:02,200 --> 00:15:05,760 Speaker 4: over something and the cash comes back somewhere, where's that 288 00:15:05,800 --> 00:15:08,880 Speaker 4: cash go? Where'd that cash come from? Who's paying for 289 00:15:08,920 --> 00:15:14,680 Speaker 4: that cash? Whose cash is that h Then you get 290 00:15:14,680 --> 00:15:18,160 Speaker 4: into the deeper in the story. Now let's do something 291 00:15:18,240 --> 00:15:23,040 Speaker 4: to hide what we're doing. So now they say these groups, 292 00:15:23,160 --> 00:15:27,040 Speaker 4: which I take to mean Johnson and Wales who close 293 00:15:27,320 --> 00:15:33,520 Speaker 4: the campus, the Urban Land Conservancy, and of course whatever 294 00:15:33,720 --> 00:15:37,760 Speaker 4: entities are involved that are the government entities like the 295 00:15:38,360 --> 00:15:44,480 Speaker 4: Urban Development Program, the Archway, the City in County of Denver, 296 00:15:44,640 --> 00:15:49,520 Speaker 4: the City Council, all of those the groups that I 297 00:15:49,680 --> 00:15:55,320 Speaker 4: just have listed have renamed the site Mosaic Community Campus. 298 00:15:57,400 --> 00:15:58,360 Speaker 3: Didn't that sound good? 299 00:16:00,160 --> 00:16:03,240 Speaker 4: Three point three anchor portion where the two dorms sit 300 00:16:03,440 --> 00:16:08,479 Speaker 4: is now owned by the Denver Housing Authority, which purchased 301 00:16:08,560 --> 00:16:12,000 Speaker 4: it for nine and a half million dollars in twenty 302 00:16:12,080 --> 00:16:19,880 Speaker 4: twenty one, Archway is purchasing, is pursuing Archway is pursuing 303 00:16:20,720 --> 00:16:24,880 Speaker 4: low income housing tax credits through the Colorado Housing and 304 00:16:24,960 --> 00:16:30,480 Speaker 4: Finance Authority to finance the project. Then for Housing Authority 305 00:16:30,520 --> 00:16:33,240 Speaker 4: Development Manager Sean Gary said, the Housing Authority will lease 306 00:16:33,320 --> 00:16:37,479 Speaker 4: the ground to the nonprofit builder for a quote nominal 307 00:16:37,560 --> 00:16:42,160 Speaker 4: fee for ninety nine years and give the buildings to 308 00:16:42,400 --> 00:16:47,480 Speaker 4: Archway for free. So they spend nine point five million 309 00:16:47,560 --> 00:16:52,280 Speaker 4: dollars of taxpayer money to purchase the land, and they 310 00:16:53,240 --> 00:16:55,760 Speaker 4: they lease the land. If a ground lease is what 311 00:16:55,760 --> 00:16:58,560 Speaker 4: you would call it, they do a ground lease. So 312 00:16:58,680 --> 00:17:00,720 Speaker 4: we're going to lease you the ground where the building's 313 00:17:00,760 --> 00:17:03,200 Speaker 4: sent for a nominal fee, you know, let's usually like 314 00:17:03,240 --> 00:17:06,080 Speaker 4: a dollar a year for ninety nine years. So they've 315 00:17:06,160 --> 00:17:09,240 Speaker 4: leased it for ninety nine dollars and then you got 316 00:17:09,280 --> 00:17:16,159 Speaker 4: the buildings for free. So I'm curious about something. Do 317 00:17:16,280 --> 00:17:21,119 Speaker 4: you think whether do you think Denver taxpayers are in 318 00:17:21,240 --> 00:17:24,320 Speaker 4: any way funding this project and how do you think 319 00:17:24,359 --> 00:17:28,199 Speaker 4: the developer makes money from this type of arrangement. I 320 00:17:28,280 --> 00:17:32,240 Speaker 4: think this story is a great story in being deceptive. 321 00:17:32,800 --> 00:17:36,960 Speaker 4: If you're trying to follow the money. So let's enter 322 00:17:37,040 --> 00:17:41,480 Speaker 4: into a little game, and let's follow the money. Because 323 00:17:41,560 --> 00:17:45,439 Speaker 4: we're told that, oh, we need affordable housing. But okay, 324 00:17:45,440 --> 00:17:48,160 Speaker 4: that's great, Well, who's paying for the affordable housing? Because 325 00:17:48,200 --> 00:17:52,080 Speaker 4: the people who need the affordable housing obviously need affordable housing, 326 00:17:52,119 --> 00:17:54,800 Speaker 4: so therefore they cannot pay for the affordable housing. So 327 00:17:54,920 --> 00:17:57,760 Speaker 4: somebody's got to be paying for it. The money's got 328 00:17:57,760 --> 00:18:03,440 Speaker 4: to be coming from somewhere. Nothing is free. Well, hold 329 00:18:03,480 --> 00:18:08,120 Speaker 4: on your hats. Denver taxpayers are helping underwrite this campus 330 00:18:08,119 --> 00:18:14,120 Speaker 4: wide development through the city's Housing authority, toogles, dedicated bond programs, 331 00:18:14,480 --> 00:18:20,240 Speaker 4: and housing vouchers, but the specific Johnson Wales's mosaic deals 332 00:18:20,280 --> 00:18:25,640 Speaker 4: are structured so that the nonprofit developer's profit comes from 333 00:18:25,840 --> 00:18:31,639 Speaker 4: fees and long term cash flow, not direct developer checks 334 00:18:31,840 --> 00:18:35,959 Speaker 4: out of the city's general fund. The Denver Post story 335 00:18:36,040 --> 00:18:40,960 Speaker 4: is incomplete because it implies there's no public subsidy or 336 00:18:41,000 --> 00:18:44,680 Speaker 4: that the quote money trail stops with the land purchase, 337 00:18:45,119 --> 00:18:48,919 Speaker 4: because the real economics of this whole development are in 338 00:18:49,080 --> 00:18:54,719 Speaker 4: tax credits, blow market land, and voucher streams. So where's 339 00:18:54,800 --> 00:18:56,840 Speaker 4: the taxpayer money come from? 340 00:18:57,280 --> 00:18:58,639 Speaker 3: That's next. 341 00:19:00,160 --> 00:19:04,800 Speaker 4: Will not take boats and property and an unwanted spouse 342 00:19:04,840 --> 00:19:09,320 Speaker 4: if you're happy, but they don't. They don't take dogs 343 00:19:09,359 --> 00:19:14,400 Speaker 4: and unwanted spouses. Well, Dragon, I know where you're going. 344 00:19:15,480 --> 00:19:18,000 Speaker 4: What are the cars for kids? A lot somewhere? 345 00:19:19,400 --> 00:19:20,600 Speaker 2: I'm a catch to somebody. 346 00:19:20,920 --> 00:19:22,760 Speaker 4: The sad part is you that are both going to 347 00:19:22,800 --> 00:19:24,960 Speaker 4: be there because both of our trouses would like to 348 00:19:24,960 --> 00:19:26,679 Speaker 4: get rid of us, so we'll both end up at 349 00:19:26,680 --> 00:19:31,639 Speaker 4: cars for kids. So where does the where does the 350 00:19:31,680 --> 00:19:35,560 Speaker 4: taxpayer money come in on this development going on in 351 00:19:35,560 --> 00:19:41,399 Speaker 4: in the park Hill area? Because in the taxpayers but 352 00:19:41,480 --> 00:19:46,199 Speaker 4: the Denver Post never spells that out. And you have 353 00:19:46,280 --> 00:19:51,000 Speaker 4: to understand all of the credits and the voucher system 354 00:19:51,040 --> 00:19:54,560 Speaker 4: and everything else to understand that, oh, taxpayers are actually 355 00:19:54,560 --> 00:19:58,280 Speaker 4: paying for this and the developers are making money on it. Now, 356 00:19:58,359 --> 00:20:03,720 Speaker 4: don't get me wrong, I'm not opposed to developers making money. 357 00:20:04,160 --> 00:20:05,359 Speaker 3: That's that's their job. 358 00:20:05,480 --> 00:20:08,399 Speaker 4: They want to go build something, there's a market for it, 359 00:20:08,840 --> 00:20:11,399 Speaker 4: and so they're gonna get They're going to get paid 360 00:20:11,480 --> 00:20:15,720 Speaker 4: for doing what they do, building so called low income 361 00:20:15,760 --> 00:20:20,320 Speaker 4: housing or affordable housing. But what I don't appreciate is 362 00:20:20,359 --> 00:20:23,359 Speaker 4: the Denver Post trying to make certain that all of 363 00:20:23,400 --> 00:20:25,320 Speaker 4: their useful idiots that still read that. 364 00:20:26,000 --> 00:20:27,320 Speaker 3: Wait a minute, I still read it. 365 00:20:28,760 --> 00:20:31,600 Speaker 4: All the useful idiots is still read the Denver composts 366 00:20:31,880 --> 00:20:34,240 Speaker 4: to realize that the taxpayers are the ones that are 367 00:20:34,240 --> 00:20:38,719 Speaker 4: on the hook. So the Mosaic Campus, the former Johnson 368 00:20:38,720 --> 00:20:42,119 Speaker 4: and Wales campus, got bought in twenty twenty one by 369 00:20:42,160 --> 00:20:46,000 Speaker 4: the Urban Land Conservancy, Denver Public Schools, and the Denver 370 00:20:46,040 --> 00:20:50,040 Speaker 4: Housing Authority. They all bought it, with the Denver Housing Authority. 371 00:20:50,160 --> 00:20:55,560 Speaker 4: South Campus acquisition financed using about oh ten point nine 372 00:20:55,640 --> 00:20:59,879 Speaker 4: million dollars from its Denver Housing Authority delivers for Denver 373 00:21:00,359 --> 00:21:04,960 Speaker 4: D three Permanent Supportive Housing partnership with the City of Denver. 374 00:21:06,280 --> 00:21:11,359 Speaker 4: You see, the tentacles go everywhere, but they always end 375 00:21:11,520 --> 00:21:15,560 Speaker 4: up tickling your little genitals in your pocket because they're 376 00:21:15,600 --> 00:21:16,679 Speaker 4: looking for your money. 377 00:21:17,880 --> 00:21:18,080 Speaker 3: Now. 378 00:21:18,160 --> 00:21:22,120 Speaker 4: D three is a dedicated voter authorized till you dummies, 379 00:21:22,119 --> 00:21:25,600 Speaker 4: and Denver authorize This a funding mechanism in which the 380 00:21:25,600 --> 00:21:29,240 Speaker 4: city pledges future property tax or other revenue streams to 381 00:21:29,320 --> 00:21:32,399 Speaker 4: back the bonds. So while the bond debt sits on 382 00:21:32,560 --> 00:21:38,600 Speaker 4: the Denver Housing Authorities books, the underlying repayment capacity ultimately 383 00:21:38,640 --> 00:21:43,359 Speaker 4: comes from Denver taxpayers rather than from any private philanthropy 384 00:21:43,640 --> 00:21:45,840 Speaker 4: because oh, I just want to provide you know, low 385 00:21:45,880 --> 00:21:51,480 Speaker 4: cost housing. The Denver Housing Authorities role at MOSAIC is 386 00:21:51,520 --> 00:21:54,080 Speaker 4: to hold the land and the ground lease it in 387 00:21:54,200 --> 00:21:59,520 Speaker 4: long term for the developers like Archway Communitors communities, which 388 00:21:59,600 --> 00:22:04,800 Speaker 4: lets the projects qualify for Denver supported permanent affordability requirements, 389 00:22:05,200 --> 00:22:10,840 Speaker 4: project based vouchers, and what's called permanent supportive housing PSH. 390 00:22:11,040 --> 00:22:13,800 Speaker 4: Those are subsidies that are that get paid with a 391 00:22:13,840 --> 00:22:17,440 Speaker 4: mix of local, state, and federal money. So everywhere you turn, 392 00:22:17,640 --> 00:22:20,720 Speaker 4: it's taxpayers paying for this, but you'd never know that 393 00:22:20,840 --> 00:22:24,000 Speaker 4: reading the Denver Post. At least forty percent of the 394 00:22:24,000 --> 00:22:27,800 Speaker 4: new Triangular and Gabe Hall apartments that are going to 395 00:22:27,800 --> 00:22:31,000 Speaker 4: be in the next phase are required to be supportive 396 00:22:31,040 --> 00:22:35,600 Speaker 4: housing that uses vouchers for people exiting homelessness and other 397 00:22:35,680 --> 00:22:39,879 Speaker 4: voucher payments often sourced through the Denver Housing Authority and 398 00:22:39,920 --> 00:22:43,280 Speaker 4: the Housing in Urban Development and is a direct public 399 00:22:43,359 --> 00:22:48,040 Speaker 4: operating subsidy to this project, which means that not only 400 00:22:48,119 --> 00:22:51,800 Speaker 4: are if you think that I'm just you know, lumping 401 00:22:51,800 --> 00:22:55,120 Speaker 4: on and just really pounding on Denver taxpayers right now, 402 00:22:56,359 --> 00:22:59,199 Speaker 4: those of you outside the area, in fact, those of 403 00:22:59,240 --> 00:23:02,160 Speaker 4: you living out of the state ought to be paying 404 00:23:02,200 --> 00:23:07,160 Speaker 4: attention because I just pointed out that all of these 405 00:23:07,240 --> 00:23:12,720 Speaker 4: subsidies are sourced through not just the Denver Housing Authority 406 00:23:12,840 --> 00:23:14,879 Speaker 4: but Housing and Urban Development. 407 00:23:15,560 --> 00:23:17,199 Speaker 3: Oh you don't know about HUT. 408 00:23:17,520 --> 00:23:22,000 Speaker 4: Oh that's a federal agency that gets federal tax dollars. 409 00:23:22,280 --> 00:23:28,080 Speaker 4: So we're all paying for this, hellelujah. Now, Archway Communities, 410 00:23:28,800 --> 00:23:31,760 Speaker 4: as I said earlier, is a nonprofit developer, but it 411 00:23:31,880 --> 00:23:36,920 Speaker 4: still earns development, construction management, and asset management fees, which 412 00:23:36,960 --> 00:23:39,359 Speaker 4: obviously get paid by the housing authority or the people 413 00:23:39,440 --> 00:23:43,200 Speaker 4: running it. And it can generate net operating income from 414 00:23:43,280 --> 00:23:48,399 Speaker 4: rents once the project actually stabilizes. Now, but think about 415 00:23:48,400 --> 00:23:50,760 Speaker 4: that now that let me just repeat that. Here's what 416 00:23:50,840 --> 00:23:56,360 Speaker 4: I wrote. It can generate net operating income from rents 417 00:23:56,840 --> 00:24:01,919 Speaker 4: once the projects stabilize. Where do you think the rent 418 00:24:02,160 --> 00:24:07,480 Speaker 4: come from? From the vouchers that people get that are 419 00:24:07,520 --> 00:24:11,400 Speaker 4: paid for by the City and County of Denver or HUD, 420 00:24:11,920 --> 00:24:15,439 Speaker 4: which come from the taxpayers. So it's you and me 421 00:24:15,560 --> 00:24:20,919 Speaker 4: getting fleeced again. Now, Archway has said it intends to 422 00:24:21,000 --> 00:24:26,040 Speaker 4: use nine percent low income housing tax credits for this 423 00:24:26,240 --> 00:24:29,320 Speaker 4: new upcoming phase in addition to the federal and state 424 00:24:29,440 --> 00:24:32,560 Speaker 4: historic tax credits that are already reported on the initial 425 00:24:32,520 --> 00:24:35,480 Speaker 4: one hundred and fifty four unit conversion. So in addition 426 00:24:35,560 --> 00:24:39,720 Speaker 4: to direct cash payments, then they're going to get tax credits, 427 00:24:39,920 --> 00:24:43,480 Speaker 4: which means that's a loss of revenue to the city 428 00:24:43,480 --> 00:24:45,800 Speaker 4: and county, or to the state or to the FEDS, 429 00:24:46,119 --> 00:24:50,080 Speaker 4: because now those tax credits go against any taxes owed, 430 00:24:50,440 --> 00:24:55,520 Speaker 4: so once again taxpayers are paying for it. I'm just 431 00:24:55,760 --> 00:24:58,719 Speaker 4: pausing for a moment to let you sip your coffee 432 00:24:58,720 --> 00:25:01,880 Speaker 4: and think about all of the You see, when when 433 00:25:01,880 --> 00:25:04,800 Speaker 4: I talk about advocating your compassion to the government, here's 434 00:25:04,800 --> 00:25:08,199 Speaker 4: an example of it. And I imagine most of you 435 00:25:08,280 --> 00:25:11,240 Speaker 4: will see some homeless people and you'll feel sorry for them, 436 00:25:11,680 --> 00:25:13,520 Speaker 4: and you'll think, gee, you know, maybe I should get 437 00:25:13,520 --> 00:25:15,480 Speaker 4: some money in my church, So maybe I should get 438 00:25:15,480 --> 00:25:18,280 Speaker 4: some money to you know, the Colorado Coalition for the 439 00:25:18,320 --> 00:25:22,600 Speaker 4: Homeless or some other you know, supposedly nonprofit private organization. 440 00:25:23,000 --> 00:25:26,240 Speaker 4: But no, no, you're you're already paying for it. So 441 00:25:26,359 --> 00:25:29,440 Speaker 4: I would suggest you just get your guilt feelings, put 442 00:25:29,440 --> 00:25:32,560 Speaker 4: those in your back pocket, and go about your day. 443 00:25:33,560 --> 00:25:41,159 Speaker 4: The public communications about Mosaic this project emphasizes preservation, community benefits, 444 00:25:41,200 --> 00:25:44,880 Speaker 4: and affordability, but They do not foregram that the land 445 00:25:44,960 --> 00:25:49,040 Speaker 4: was effectively assembled and discounted with a taxpayer based acquisition 446 00:25:49,160 --> 00:25:52,160 Speaker 4: program that's the D three bonds, and that long term 447 00:25:52,200 --> 00:25:56,160 Speaker 4: operating revenue is heavily supported by voucher and those permanent 448 00:25:56,160 --> 00:25:59,800 Speaker 4: subsidized housing dollars. And they also tend to frame Archway, 449 00:26:00,200 --> 00:26:02,399 Speaker 4: and particularly in the stray is what this really bugs 450 00:26:02,440 --> 00:26:06,520 Speaker 4: me about this story. They frame Archway purely as a 451 00:26:06,920 --> 00:26:10,959 Speaker 4: mission driven nonprofit and they don't make it clear that 452 00:26:11,040 --> 00:26:15,399 Speaker 4: its business model absolutely depends on stacking all of this 453 00:26:17,520 --> 00:26:21,920 Speaker 4: long term housing equity, the historic credits, the project based 454 00:26:21,960 --> 00:26:27,160 Speaker 4: subsidies and soft public loans structures that routinely produce millions 455 00:26:27,160 --> 00:26:30,800 Speaker 4: in fee revenue across a large portfolio, even though no 456 00:26:30,960 --> 00:26:36,640 Speaker 4: single project looks profitable on paper, meaning that oh, there's 457 00:26:36,760 --> 00:26:39,120 Speaker 4: profit being made everywhere. 458 00:26:40,200 --> 00:26:40,399 Speaker 2: You know. 459 00:26:40,800 --> 00:26:44,720 Speaker 4: Once again, maybe a quick reminder that nonprofits doesn't mean 460 00:26:44,720 --> 00:26:47,960 Speaker 4: that you're not making a profit. Nonprofit simply means that 461 00:26:48,040 --> 00:26:50,440 Speaker 4: you don't have dividends. 462 00:26:49,760 --> 00:26:51,320 Speaker 3: To distribute to shareholders. 463 00:26:51,720 --> 00:26:55,000 Speaker 4: And it doesn't mean that your C suite, like your CEO, 464 00:26:55,359 --> 00:26:58,800 Speaker 4: your CFO, your chief technology offer, your officer, all of 465 00:26:58,800 --> 00:27:01,000 Speaker 4: the people in the C suite, that doesn't mean that 466 00:27:01,040 --> 00:27:03,359 Speaker 4: they're not being paid high salaries. Oh yeah, they're getting 467 00:27:03,359 --> 00:27:06,399 Speaker 4: paid high salaries. It's just that they're not accountable to 468 00:27:06,400 --> 00:27:12,000 Speaker 4: the shareholders. So put bluntly, Denver taxpayers are paying on 469 00:27:12,080 --> 00:27:16,600 Speaker 4: the front end bond backed acquisition and soft financing, and 470 00:27:16,720 --> 00:27:20,280 Speaker 4: on the back end through vouchers and supporting services funding, 471 00:27:20,960 --> 00:27:24,800 Speaker 4: with the developers upsite coming through fees and long term 472 00:27:24,840 --> 00:27:28,560 Speaker 4: cash flow supported by those same public subsidies, and the 473 00:27:28,600 --> 00:27:33,560 Speaker 4: tax benefits sold to private investors. So the Denver post 474 00:27:33,760 --> 00:27:39,719 Speaker 4: framing around following the money is therefore best partial, and 475 00:27:39,960 --> 00:27:43,960 Speaker 4: I think at worst it's misleading because I think it 476 00:27:44,080 --> 00:27:47,920 Speaker 4: leads people reading that story thinking that no tax dollars 477 00:27:47,960 --> 00:27:51,879 Speaker 4: here simply because there isn't a direct line item city 478 00:27:51,960 --> 00:27:56,320 Speaker 4: check labeled profit for Archway. Oh it's there, all right, 479 00:27:56,920 --> 00:28:02,880 Speaker 4: It's absolutely there. So Denver taxpayers are indeed quietly bankrolling 480 00:28:02,920 --> 00:28:06,080 Speaker 4: the transformation of this old Johnson and Wales campus into 481 00:28:06,080 --> 00:28:10,200 Speaker 4: affordable housing apartments, despite what the headline claims, and through 482 00:28:10,240 --> 00:28:13,760 Speaker 4: the Denver Housing Authorities D three bonds back by city revenues, 483 00:28:14,000 --> 00:28:16,159 Speaker 4: the Denver Housing Authorities snapped up the land for a 484 00:28:16,240 --> 00:28:20,040 Speaker 4: ten point nine million dollars then ground leases cheaply at 485 00:28:20,080 --> 00:28:21,919 Speaker 4: you know what. I don't know what it is, but 486 00:28:21,960 --> 00:28:24,879 Speaker 4: it's probably like a dollar a year for ninety nine years. 487 00:28:26,119 --> 00:28:29,240 Speaker 4: So when you read the Denver Post and you think 488 00:28:29,280 --> 00:28:35,400 Speaker 4: about following the money, the Denver Post is actually covering 489 00:28:36,280 --> 00:28:39,600 Speaker 4: for tax for all of the taxpayer money that's being 490 00:28:39,640 --> 00:28:40,760 Speaker 4: spent on this project. 491 00:28:41,880 --> 00:28:45,160 Speaker 2: Hey, Mike, I have proof that inflation isn't that bad. 492 00:28:45,680 --> 00:28:48,800 Speaker 4: My wife and I got a great deal on a 493 00:28:48,880 --> 00:28:50,200 Speaker 4: venezuela and fishing trip. 494 00:28:54,560 --> 00:29:01,080 Speaker 3: That's a good goober right there. Do you where? Where's 495 00:29:01,080 --> 00:29:01,760 Speaker 3: your portocol? 496 00:29:02,160 --> 00:29:02,440 Speaker 4: Is it? 497 00:29:02,720 --> 00:29:03,160 Speaker 3: Uh? 498 00:29:03,440 --> 00:29:06,920 Speaker 4: Is it Key West? Or is it Caracas? Are you 499 00:29:06,960 --> 00:29:10,400 Speaker 4: coming or going? Either way you're going, but I'm just 500 00:29:10,440 --> 00:29:11,680 Speaker 4: curious where you're gonna start. 501 00:29:11,880 --> 00:29:15,160 Speaker 2: Don't you have a trip coming up next next October? 502 00:29:15,320 --> 00:29:15,520 Speaker 3: Yeah? 503 00:29:15,640 --> 00:29:18,840 Speaker 4: Yeah, we're going to the Greek Isles. Yeah yeah, Michael 504 00:29:18,840 --> 00:29:21,560 Speaker 4: trip dot com. Michael trip dot com. That's it. You 505 00:29:21,560 --> 00:29:22,960 Speaker 4: gotta go check that out right now. 506 00:29:25,760 --> 00:29:29,720 Speaker 2: You know who was actually talking to me about that Wednesday? 507 00:29:30,320 --> 00:29:30,920 Speaker 3: That's the trip. 508 00:29:31,080 --> 00:29:34,960 Speaker 2: Yeah, he really wants to go, but he's he's worried 509 00:29:35,920 --> 00:29:41,600 Speaker 2: because it could be hoping fingers crossed Rockies playoffs. 510 00:29:44,640 --> 00:29:48,160 Speaker 3: Wow, they're they're really desperate. 511 00:29:48,800 --> 00:29:52,440 Speaker 2: Jesse Thomas. Jesse Thomas was very interested in Michael trip 512 00:29:52,440 --> 00:29:52,840 Speaker 2: dot com. 513 00:29:52,840 --> 00:29:55,480 Speaker 4: I'd love for Jesse g one and see that that 514 00:29:55,480 --> 00:29:57,840 Speaker 4: that right there, give me, give me a handful of 515 00:29:57,840 --> 00:29:59,080 Speaker 4: Goubers and Jesse. 516 00:29:58,880 --> 00:30:02,800 Speaker 3: Thomas and me, and we got a party. We got 517 00:30:02,840 --> 00:30:03,440 Speaker 3: a damn party. 518 00:30:03,720 --> 00:30:05,920 Speaker 2: The slightly nervous because the trip's in October, He's like, 519 00:30:05,960 --> 00:30:07,440 Speaker 2: that could be Rocky's playoff time. 520 00:30:08,200 --> 00:30:12,760 Speaker 4: I think he's a little overly optimistic. I mean, I 521 00:30:12,800 --> 00:30:16,240 Speaker 4: think maybe in a year or two, but I don't 522 00:30:16,240 --> 00:30:17,880 Speaker 4: think this first season. 523 00:30:18,160 --> 00:30:19,640 Speaker 2: I don't. 524 00:30:19,840 --> 00:30:25,200 Speaker 4: I mean, Moneyball guy's good, but or it could be. Also, 525 00:30:25,320 --> 00:30:31,480 Speaker 4: you know, I've heard this enthusiasm before. Maybe I should 526 00:30:31,560 --> 00:30:35,840 Speaker 4: invest now in renewing my ten year old season tickets 527 00:30:35,840 --> 00:30:39,200 Speaker 4: that I haven't had for ten years. But then I'm 528 00:30:39,240 --> 00:30:41,200 Speaker 4: afraid there'll be one of those things where it'll be 529 00:30:41,320 --> 00:30:43,640 Speaker 4: like you know, Crypto where you know, this week it's 530 00:30:43,680 --> 00:30:46,560 Speaker 4: just been plummeting, like I don't think I will. I 531 00:30:46,560 --> 00:30:48,840 Speaker 4: don't think I will. But Jesse, you'd love to have 532 00:30:48,840 --> 00:30:53,520 Speaker 4: you come along. So yeah, rather have you Jesse than 533 00:30:55,080 --> 00:30:58,880 Speaker 4: you know, well not not missus. Redbeard would be great, 534 00:30:58,960 --> 00:31:02,960 Speaker 4: but mister Redbeard eh kind of a party pooper party pooper. 535 00:31:04,080 --> 00:31:06,840 Speaker 3: I'm not surprised by this. I'm disappointed by this. 536 00:31:08,040 --> 00:31:12,160 Speaker 4: A federal grand jury has rejected the Department of Justice 537 00:31:12,640 --> 00:31:17,880 Speaker 4: attempt to reindict the Attorney General of New York, Letitia James. 538 00:31:18,840 --> 00:31:22,960 Speaker 4: And this new attempt came after a judge dismissed the 539 00:31:23,000 --> 00:31:27,800 Speaker 4: previous mortgage fraud prosecution. It was over a technicality. It 540 00:31:27,840 --> 00:31:31,120 Speaker 4: was anything great, just a technicality pertaining to the appointment 541 00:31:31,120 --> 00:31:35,480 Speaker 4: of now former entering US Attorney Lindsay Alligan. Prosecutors went 542 00:31:35,520 --> 00:31:39,760 Speaker 4: back to the grand jury following the judge's disqualification of 543 00:31:39,800 --> 00:31:43,400 Speaker 4: this acting US attorney and saw a new indictment. Now 544 00:31:43,560 --> 00:31:46,720 Speaker 4: Letitia James was initially indicted back in October on charges 545 00:31:46,760 --> 00:31:49,960 Speaker 4: of bank fraud and making false statements related to a 546 00:31:50,040 --> 00:31:53,000 Speaker 4: home that she purchased in Norfolk, Virginia, back in twenty twenty. 547 00:31:53,320 --> 00:31:55,920 Speaker 4: The prosecutors alleged that she had rented out the property 548 00:31:55,960 --> 00:31:59,200 Speaker 4: after signing a document that says, you know, if you've 549 00:31:59,240 --> 00:32:02,560 Speaker 4: done a whole loanly, you signed the same thing where 550 00:32:02,600 --> 00:32:05,680 Speaker 4: you agree to use it as your personal residence. You 551 00:32:06,040 --> 00:32:09,040 Speaker 4: affirm under penalties of perjury that you're going to use 552 00:32:09,080 --> 00:32:12,600 Speaker 4: it as your personal residence. Well, that allows you to 553 00:32:12,680 --> 00:32:16,880 Speaker 4: get the most favorable loan terms when you when you 554 00:32:16,920 --> 00:32:22,120 Speaker 4: call American financing as you should then three zero three 555 00:32:22,160 --> 00:32:24,480 Speaker 4: six ninety five seven thousand that you should do that. 556 00:32:24,560 --> 00:32:26,800 Speaker 4: But you're going to sign a document at some point. 557 00:32:26,960 --> 00:32:29,960 Speaker 4: This is your primary residence, indeed, if that's the loan 558 00:32:30,000 --> 00:32:34,400 Speaker 4: that you're looking for. She denied the allegations. She called 559 00:32:34,400 --> 00:32:37,800 Speaker 4: all the allegations politic and motivated, but in response to 560 00:32:37,840 --> 00:32:41,200 Speaker 4: the grand jury's decision, she says, this it is time 561 00:32:41,920 --> 00:32:44,160 Speaker 4: I want you to This is the woman that went 562 00:32:44,320 --> 00:32:48,400 Speaker 4: after Donald Trump because he told the bankers, why I 563 00:32:48,440 --> 00:32:51,520 Speaker 4: think marl Logo is worth you know, a bazillion dollars, 564 00:32:51,960 --> 00:32:54,640 Speaker 4: And the banker said, that's fine, we'll do our own 565 00:32:54,720 --> 00:32:58,520 Speaker 4: due diligence, and we think it's worth half a bazillion dollars. 566 00:32:58,960 --> 00:33:01,360 Speaker 4: And so the negotia back and forth, they come to 567 00:33:01,520 --> 00:33:05,880 Speaker 4: terms for the loan, they come to terms, they sign 568 00:33:06,080 --> 00:33:08,960 Speaker 4: the promissory note and all the documents that go along 569 00:33:09,000 --> 00:33:11,760 Speaker 4: with it, all the disclosures, and then he pays the 570 00:33:11,800 --> 00:33:12,440 Speaker 4: loan back. 571 00:33:13,240 --> 00:33:14,200 Speaker 3: No harm, no foul. 572 00:33:16,920 --> 00:33:21,000 Speaker 4: But she says that because he claimed that mar Logo 573 00:33:21,160 --> 00:33:23,640 Speaker 4: was worth more than the banks ultimately made the loan 574 00:33:23,720 --> 00:33:27,360 Speaker 4: for this Timehow that was mortgage fraud, And then she 575 00:33:27,440 --> 00:33:30,600 Speaker 4: says this, this really does take to Tony's It is 576 00:33:30,680 --> 00:33:34,560 Speaker 4: time for this unchecked weaponization of our justice system to stop. 577 00:33:35,960 --> 00:33:36,120 Speaker 3: Now. 578 00:33:36,160 --> 00:33:39,840 Speaker 4: Her lawyer happens to be Abby Lowell, who represents, among 579 00:33:39,880 --> 00:33:44,240 Speaker 4: other Democrats, Hunter Biden, and then she said, if they continue, 580 00:33:44,640 --> 00:33:47,160 Speaker 4: undeterred by a court ruling in a grand jury's rejection 581 00:33:47,200 --> 00:33:49,760 Speaker 4: of the charges, it will be a shocking assault on 582 00:33:49,800 --> 00:33:52,240 Speaker 4: the rule of law and a devastating blow to the 583 00:33:52,280 --> 00:33:53,880 Speaker 4: integrity of our justice systems. 584 00:33:53,920 --> 00:33:55,480 Speaker 3: No it won't, No, it won't. 585 00:33:56,000 --> 00:33:58,960 Speaker 4: It'll just be further proof that the rich and powerful, 586 00:33:59,280 --> 00:34:02,680 Speaker 4: like Hulity James, get by with things that as little 587 00:34:02,720 --> 00:34:04,240 Speaker 4: people would never get by with