Elk Grove Citizens should know if Horn assumes Slow and Low's loan, will Hargis' underwater Garden Hwy. parcel still be the collateral?

At next week's Elk Grove City Council meeting, Mayor Bobbie Singh-Allen and city manager Jason Behrmann will have the opportunity to discuss the details of the new financial arrangements for the $500,000 taxpayer-guaranteed loan. Aside from a vague answer to a social media question, the city has not responded to an inquiry from Elk Grove News seeking information on the new supposed loan arrangement. 

The city talks a good game about transparency, but answering embarrassing or uncomfortable questions is another thing. No wonder there is cynicism about elected officials and high-level public officials, but that is a conversation for another day. 

If we are to believe the city when they claim the Horn organization will be taking over the Slow and Lo loan, what will be the collateral? Currently, the $500,000 taxpayer-guaranteed loan is secured by Slow and Low's equipment and a vacant parcel located at 7011 Garden Highway, Sacramento (which aprears to be underwater in the Google street view map below), which the county assessor values at $415,119.

 If the Horn organization takes over the loan, aside from the restaurant equipment valued at $50,000, is Mr. Hargis willing to "carry" the loan using his family's parcel as collateral? Conversely, what collateral will protect Elk Grove taxpayers if Horn assumes the loan and conditions?

The city council's January 8 agenda has been released, and nothing related to the loan guarantee and the assumption of the loan is included.

Ms. Singh-Allen and Mr. Behrmann have an opportunity to shine a light on the Slow and Low fiasco during the January 8 city council meeting. We suspect they keep the public in the dark and do not provide any detail, arguing it was not included on the agenda.