You know most of the story about Cordish from reading the Courier-Journal, LEO, and other blogs. You also have been following this story on The Francine Show on WHAS-AM and other broadcast outlets.
You know that Louisville Metro Council approved a $12 million purchase of three acres of prime real estate for Cordish’s plan for Center City.
You know that The Cordish Company got this agreement from Louisville’s Metro without agreeing to use union workers or paying prevailing union wages for the majority of the construction.
You know that the “Cordish Company is the largest and most successful developer of entertainment districts and concepts in the United States.”(Cordish’s standard media blurb).
You probably know that the “Cordish Company’ has draconian dress code policies, which have led to demonstrations in Kansas City, Missouri and other cities(Know Your Developer, Cornish’s Problems in KC)
But did you know that:
The Cordish Company is a privately-held (family) business, which means that it does not have to publish an annual financial report to stockholders. Cordish, moreover, fought (in 1992) to keep its financial records from the State of Texas. (Texas AG, 1992)
David S. Cordish (the grand Pooh-Bah of this company) was a close associate of the infamous lobbyist, Jack Abramoff of Republican felony fame. (David and Jack)
While The Cordish Company stands to make an estimated $1 billion over the next 10 years For its casino deals, only a small percentage of these profits end up in the local (Tampa, FL) economy.
Funding for Cordish’s deal with the Seminole Indians in Tampa, Fl involved a creative procedure for issuing the revenue bonds (Two Seminoles).
To secure the Seminole contract “The Cordish Corporation helped write and implement new tribal laws and issued lengthy legal opinions in hopes of pacifying nervous investors (The Baltimore Sun).” Cordish denies this claim.
The Cordish Company and the Seminoles eventually got into a nasty war. “When Cordish wouldn't let the tribe buy out the contract, the Seminoles sued their own partners.” (The Cordish-Indian War)
The Cordish Company has continued to be a major player in the gaming industry, which the current recession has hit hard. (Is Center City Louisville going to be the home of a Cordish casino?)(Problems with the Gaming Industry).Accordingly,Cordish and its partners have backed out of its proposed casino at the Kansas International Speedway(December 5, 2008).
The Cordish Company’s website does not mention the failed Rainbow Mall in Niagara Falls. (The Cordish Company). David Staba and Mike Hudson have reported that “(P)romise after promise emanating from City Hall and Baltimore, Md., home to David Cordish, proved empty. Little of the hoped-for spin-off development ever occurred.” (Niagara Falls Reporter)
David Cordish has been suing Niagara Falls for causing the conditions that led to Cordish’s abandonment of the “Rainbow Mall’s project.(Niagara Falls Reporter)
You probably did not know all the shenanigans that Cordish has pulled in Kansas City.
The Power & Light District(which Cordish developed) needs a $4 million taxpayer subsidy its first year; even though this district was financed by TIF-generated bonds.(Kansas City.Com).
The Cordish Corporation fought the referendum for light-rail in downtown Kansas City(which was defeated.) (The Kansas City Star)
There have been allegations about the Cordish contractors (in the KC project) not complying with minority workforce goals.(The Call)
The purpose of this article was not to squash Louisville’s Center City deal, which will proceed regardless of what I write or say. (It might be good for Louisville in the long run.)
Rather, I wanted you to know more of the Cordish story. With this information, you can decide whether Jerry and the Metros made the right decision in the matter of Cordish and the Center City