EDIT loan records should be released (11/08/07)

Here's what should have happened.

Back in 2004, when funds from the county's Economic Development Income Tax were first loaned to Omnicity, someone at the Jay County Commissioners' meeting should have required that the loan documents be attached to the official minutes.

After all, the dollars lent were public funds.

Although administered by Jay County Development Corporation, the loan was actually made by the county.

And whenever you're talking about public funds, transparency should be the order of the day.

But that's not what happened.

Instead, though the commissioners' minutes record approval of the loans and amortization tables are on file at the county auditor's office, the loan documents themselves stayed with JCDC.

And that's where transparency gets lost.

Because it is a non-governmental organization, JCDC, even though it receives some EDIT tax dollars to fund its operation, isn't subject to the state's rules on open records.

In many ways, that makes sense. When dealing with business and industrial prospects or the possible acquisition of land, JCDC needs to be able to provide a measure of confidentiality.

It doesn't make sense, however, when we're talking about the lending of public dollars to a private entity.

At that point, the lenders - the taxpayers - have a right to expect everything to be a matter of public record.

Now, because things weren't done quite the way they should have been in the first place, the situation has become awkward.

JCDC doesn't want to set a precedent that would make all of its records public, but it's in possession of documents that rightly should be public records.

Here's what should happen next to straighten things out.

The county commissioners, at their earliest opportunity, should ask JCDC to make available copies of the loan agreement with Omnicity so the minutes of past commissioners' meetings can be made complete.

When that's done, the loan agreements become an addendum to the commissioners' minutes and are a public record.

The deal becomes transparent, and the paperwork can be examined by anyone who chooses. At the same time, JCDC preserves the confidentiality of its other records.

New JCDC executive director Bill Bradley is already at work on procedural changes in regard to EDIT loans that should improve the whole process, but it's up to the commissioners to clarify - and open - the record on loans already made. - J.R.[[In-content Ad]]