In my post on August 24, 2009, I linked to a North Idaho College (NIC) press release which explained the NIC Foundation planned to use several million of our tax dollars (shifted to the Foundation from NIC) to repay the loan to purchase the DeArmond Mill site. One part of the press release noted financing had been secured by a “competitive bid process.”
Not surprisingly, the winner of the competitive bid process was Mountain West Bank, a local bank that just happens to have three of its Directors on the NIC Foundation board. Another Mountain West Bank Director is a business partner with one of the Foundation directors whose wife is on the NIC Board of Trustees. Given those connections, I submitted a public records request to NIC and requested information about the “competitive bid process.”
The photo (left) hints at the response my request received from John Martin, NIC’s Vice President for Community Relations & Marketing. (more…)