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Even After Recall Effort
Shameless Senators
Parade Paul Golden to V. I. as Real Developer
Senator Louis Patrick Hill - March 23, 2007
Transcribed from video found at The Johnny Cake Files
[ Senator Hill attempts to make Paul Golden out as a victim of slander by Roger Morgan, completely evading any real questions or mention of Paul Golden's well documented past as a perjurer, convicted felon, and embezzler, not to mention his complete lack of experience as a developer. Golden for his part, attempts a ludicrous series of excuses for his inability to find financing, the ultimate goal of which is to proceed with construction using our tax money by claiming that costs have gone up $30 million dollars in just two months time from his original cost of $95 million dollars, and also claiming he's already invested $20 million into the project. Take special note that he has secured a $15,000,000 loan, for which WE are liable for, not him, as our so called leaders spend the majority of their creativity thinking of ways to pilfer the treasury. ]
Senator Jimi Weber: . . . recognize a, committee member Louis Hill. He had explained that he was delayed. Senator Hill would you like your 10 minutes?
Senator Louis Patrick Hill: Thank you Mr. Chair. And my sincere apologies to everyone, I was running a little late this morning. Morning Mr. Finch. Good to see you again. Mr. Golden.
Paul Golden: Morning.
Senator Louis Patrick Hill: Attorney Moore. Ah, Roy Rodgers. How you doin?
Roy Rodgers: Fine.
Senator Louis Patrick Hill: You still, still got a quick draw? [ laughter ]
Um. I was listening to some of the questions and testimony was being asked as I was driving in. I don't know whether this question has been asked but I, I have a couple of very direct questions for Mr. Golden. Your, your project has been heavily criticized in St. Croix. Um, as a matter of fact about a week ago ah, about a week ago last week, I heard Roger Morgan on the radio and he made a, he had a special program just for you. And he had your ah, some deposition. Records of your deposition with your, with your mother, and all kinds of sthing, and he devoted his entire program to reading this deposition, and the the calls that came in after that, ah, were very critical, of you, of your character, of your ability to, be a good business person in St. Croix your, ability to fit into the community. He painted you essentially as a crook. Um. And I don't know you know, obviously that was been broadcasted around the world because everything is broadcasted around the world these days. So, that's, that was what Roger Morgan, that's the type of advertising that he was doing, on on how we treat business people who come to the territory, that was his treatment of of one of our, um, persons who've been interested in in this. And, and to follow that up of course, the, the Senators who voted for your, ability to get a, a guarantee, from the PFA, were heavily attacked by the people who called into his program after he had finished reading all this stuff. And they essentially felt that that we made a, a terrible mistake, by approving, for the PFA to, explore the possibility of guaranteeing a loan for you. Because your character is no good, and you, you're essentially a crook. Um, ah how do you respond to that? I mean I mean, what is your response to that type of attack on you, on your person, on your character, by a radio talk show host who, just makes, a program out of it? What, what is your response to that?
Attorney Moore: [ unintelligible whispering to Paul Golden ]
Paul Golden: Good morning Senator. Um. Well, its very difficult. I, I get to listen to it as well. Um. I have it played for me and listen on the telephone and, um, its very difficult to listen to cause Roger Morgan doesn't know me. Um. People accuse [ Cut off by Senator Hill ]
Senator Louis Patrick Hill: Now the way he'd spoke you would think that he, he knew everything about you from since you were child.
Paul Golden: Well, an tah, I, I would have to agree but he, he doesn't know me. He's never met me. Um. And, you know I've been coming down to St. Croix now since August of 2000. Last year I flew about 130 flights. Um. Nah, none for personal reasons but for this project, and, I'm down here usually twice every month and I think many a folk in the community have gotten to know me. Umm. I've spoken at the Chamber a Commerce. But, again, ah what Roger Morgan says it its, its an attent to smear my name, or to hurt the project and, its not Paul Golden, its not who I am, and he really doesn't know me so it. It makes it very difficult to talk about, but I think that, hmm, in 2001, I went through a full investigation through the Casino Control Commission. And there's dozens of character, a reference letters on Paul Golden. Who I am. What I do in the community. Who I am as a family person. Um, the type of establishments and businesses I ran in that community. Um, so, Roger Morgan doesn't know these things. Clearly his intent is to destroy my project. And, you know kite honestly it, it's just very difficult to listen to and it gets old because its not just one day. It happens, I can't say day after day after day, but happens all the time and its just badgering and, and beating up on Paul Golden. So, again um, ahh, its not who I am and he doesn't know me. And ah, a [ Cut off by Senator Hill ]
Senator Louis Patrick Hill: How, how much money have you invested in this, in this endeavor Mr. Golden. Since you started? To, to [ Cut off by Paul Golden ]
Paul Golden: Over 20 million dollars. Um.
Senator Louis Patrick Hill: So you, you've sunk about 20 million dollars, including serious attorney's fees to this gentleman next to you. Is that correct?
Paul Golden: That, that's correct. I you know, Trustans done a tremendous job, but he's not my only counsel I have tax counsel, I have gaming counsel, um, it, I had special counsel for my man, hotel managment agreement. Um, you know presently I have a 15 million dollar loan out, but besides that there's about 7 million dollars. So there's, there's well in excess of 20 million dollars. Many the fees of what, ah, Gordon Finch had mentioned. We've gone through the E. A. R., we've gone through the C. Z. M. process. I got about 500 pages of blue prints. We've gone through design development phase on the project. You know we're we're at the one yard line. We're ready to, to, you know, cross over, get in the endzone and break ground. And to get there is a very long, grueling, enduring process. I call it my roller coaster ride. Um. You never know where the next twist and turn and dip is going to be. And, and a lot of these things are, you know, its, its not trial and error ah um, as, as Mr. Finch mentioned, um, when you're doing an E. A. R. you, you kind of stumble ah across some of these things. You don't know. Most these properties have never had an E. A. R. done, or to extent to do a development, so you're, it's it's it's a process, and, from day one when you start, your your investments always at risk. Cause you don't know if you're gonna get a gaming license, reservation. You don't know if you're gonna get your zoning. You don't know if you're gonna get your C. Z. M. And to do all these things you have to, spend lots of money. Milliones and milliones and milliones of dollars. And to say, you know you can't just spend the milliones of dollars unless you, secured a piece of land. So either you've paid for an option on that land or in most instances, you've purchased that land. And that's all at risk. And, and this is a process that, that doesn't happen in 30 or 60 or 90 days. Its a process that happens over many years. And, you know most would like to believe that you can make an a you know come to the island today and make an announcement that in September we're gonna break ground. But, one has to realize that if you're on the water, or if you're in a tier one, or on a coastal zone, you gotta go through a whole coastal you know C. Z. M. process. And you can't even do that unless you have the proper zoning, because DPNR C. Z. M. woln't even look at your application, until you have zoning. So again it it it's a whole process and what it takes to get there. And we've endured, or I've endured, through in my advisers, counsel, consultants and so on, for, this August will be 7 years. And so, you know gaming license, takes almost a year. Zoning takes almost a year. You're C. Z. M. takes almost 3 years. And through that, you're you're funding the entire project. And [ Cut off by Senator Hill ]
Senator Louis Patrick Hill: Um. Un. Your your critics have, have essentially said, um, that your, your inability to deliver on this project, after this 7 years of of to to this point, is essentially based on the fact that you do not have the money. And you don't have the, the ability to raise the money for this type of project. How, how would you respond to that?
Paul Golden: Well, you know I, I would, I would agree. Paul Golden personally doesn't have the money. But, um, we do I, I have lined up financing for the project. And funding will be in place for the project. The problem that happens is on all these delays, um, and I mentioned earlier, are the increased construction costs. So today you can have, or, you know in October we have funding. But then when the construction costs are then, ummm, amended, or or gone over again, the projects gone up 30 million dollars. And so now you have to go through your financing package again. Um. Finance any shortfalls. And its always kind of like a a a moving target or moving progress. And, it it it develops over time again. But, funding for the project is pretty much in place, other than, the shortfall for the increased construction costs, that have happened from October, to only December. Two months. And that cost has gone up significantly. So, again we're we're confident that full funding for the project will be in place, for our June 30th deadline with Casino Control Commission, so we can, file our final package, and casino license application. But, you know, most developers don't bankroll a project. They'll bankroll the portion that I've gone through, or, Anally Bay might mix their portion which is, really the the real at risk portion, because you don't have your entitlements to the land yet. You don't know what you can develop or can't develop. And it's very difficult to get a lender to fund that. So a developer will put up what's called, the risk money. Lenders will say their money is at risk too but, they always have collateral to back up their risk, and , and they own the right up to a point, where they don't perceive any risk. But, you know paying all the start-up costs, and the milliones and milliones and milliones of dollars, Golden Resorts has paid. So in one sense, we have no money. I paid the Virgin Island's government over 400,000 dollars between, the Casino Control fee of 100,000, over 150,000 in stamp taxes on my property, over 150,000 dollars in in a property taxes. But the project to date has carrying costs of about 150,000 dollars a month without professional fees. That's just the carrying costs of the debt service on the property, your property taxes and insurance. So in one sense, I don't have any money, um, again I'm spending over 150,000 dollars every month. Outside of consultants. And to date, we spent over 20 million dollars. I'm sorry I eh, it's definitely unfounded, and um, you know project funding will be in place.
Senator Louis Patrick Hill: Ah, Mr. Chair, if I may conclude with one, one question.
Senator Jimi Weber: So question.
Senator Louis Patrick Hill: Do you own the property on which you plan to build, this project? Do you own the property? Do you have a title of ownership to this property?
Paul Golden: Ah, absolutely. Um. Golden Resorts is the owner of the property. It's recorded down at the Lt. Governor's Office. There's a deed to the property. Ah, it's 294 acres plus or minus at Estate Hartmanns, and there's a many different, a, matriculars that comprise that 294 acres but, ah, it's public record. Anybody can go down to Lt. Governor's Office. They can pull the record. And um, and see it but, I could, ahh, happy to a provide a deed to the property. It's it's fully owned, entitled to Golden Resorts.
Senator Louis Patrick Hill: Thank you. Thank you Mr. Chair.
Senator Jimi Weber: Thank you Senator Hill and I want to say thank you for both of you for coming from St. Thomas. This issue is quite germaine to St. Croix but I think that, as the listening audience hears, um, you have development as well that is pa-tential in St. Thomas as well as St. John and I appreciate that you're coming over. Ah, at this time we're gonna take a 5 minute break and allow the court reporter, ah, to change her, her tape as well as for gentlemen of Golden Resorts if you want to set up your easels so that the viewing public can get a better vision of them as well.
[ In this made-for-television fiction, a contrived inquiry, con-artist Roy Rodgers laid claim that Roger Morgan had stated that Paul Golden didn't own the Estate Hartmann property. In truth, Roger merely read the transcript of Linda Golden's lawsuit which made said claim several years ago, since Paul Golden's theft of Linda Golden's money was used to purchase his assets in St. Croix, and thus established a "constructive trust" in her name upon successful litigation. Since then, Paul Golden has borrowed $15,000,000 dollars for which we are liable, with which to pay off the nearly $700,000 in judgements against him and owed to his mother. That is, we the people of St. Croix, have in essence paid this con-artist's court judgement off by agreeing to co-sign on his loan. Hill gives Rodgers the stage to make more racist commentary, with the "his people", "our people" stupidity which is the hallmark of this dysfunctional Senate and its attempt to control from whom the people in St. Croix get their news. Hill combines both his need to justify his outrageous attack on Roger Morgan's FCC license, and his completely baffling support for Paul Golden's sham project into one giant con-game, timed and performed while Roger Morgan was hosting a spelling bee for the children of St. Croix. ]
Senator Jimi Weber: Senator Hill if you would please.
Senator Louis Patrick Hill: Ah, thank you again Mr. Chair. Mr. Golden I, I want to wrap up with you this, uth with this final question. Ha have you or any of your representatives, ah, tried to contact Roger Morgan and provide him with with information on on what you're doing? Cause often times I, I, I hear him say you know he wants to do a a balanced program. He wants to give both sides. Ha have you or any of your representatives spoken with him, tried to give him information, that would help create a balance in in what he's a putting out over the airwaves?
Paul Golden: Well, ah I'm gonna speak a little bit and then, Mr. Rodgers with speak as well cause I know he's contacted Mr. Morgan as well. But um, one time, within the last two months when I was coming to island, I did have the opportunity talk to Mr. Morgan. Um, on his cell phone. And I gave him certain information on Paul Golden and on the project. And of course I've never, you know, I'm not down here listening to the radio station but I have. One the issues were did I own the land, and of course I do own the land. Golden Resorts owns the land. And so I have spoken to him, um, I've never been on his show. But we've spoken probably for about 10 minutes, via his ah, cell phone.
Senator Louis Patrick Hill: Um, mm Mr. Rodgers?
Roy Rodgers: [ We do our best to accurately capture each utterance of Mr. Rodgers, but his English grammar and enunciation are both atrocious. ] Good Afternoon. My name is Roy, Rodgers. Yes um. I listen to Mr. Morgan program. And one day I were listening after beatin up Mr. Golden here, which I know fo for 5 years. Five and a half years. He mention that Mr. Golden does not own his land. I, call, ah um, his program, and I told him that yes in fact Mr. Morgan, Mr. Golden own the property for the last 5, I mean 3 years. Two, at a ten two and a half years. And he call me a liar then the radio. [ No such on-air conversation occurred such as Mr. Rodgers claims. ] So I, call my secretary and I took the um, the deed, and um, couple years of um, payments, a property tax payments, to him. When I got there there was after after a his 12:00 o'clock, well twelve, 12:15, 12:10. And I um, went in I introduce myself. And I said Mr. Morgan, um, I brought an en-mage I give you a call, and I brought the deed from Mr. um Golden for the property Golden Resort. I also some tax paper, ah, receipts. He tell me ha don, I don't wanna see, I'm not interested. I'm gonna beat him up. I don't wanna see.
 Paul Golden Representative Roy Rodgers |
I felt affended. And I start ta fa. I little annoyed yes. And, and I like blocked the door a little, and I said to him and please ease up on this man. Because, he gonna, he, he trying to do something for the Virgin Islands and for St. Croix. And an, and that, people where some unemployment is high, went through the whole, gamut with him. And, he's he's all he wants to do is beat up on Golden. He want beat up. I don't think Golden the man he wants a beat down. He want beat down the project. He, I think that the mentality, is to keep St. Croix down. Keep it down to a point that they could still have a, a meal for $50 and $60 dollars. They could still have, come back in the winter, his people. Come back in the winter, and they, they meet the St. Croix the same way they left it. And um, our kids, my kids, your kids, will have to go off island to look for employment. Because its not there. |
Senator Louis Patrick Hill: OK. So ee essentially, you took the the the documents that would verify some of the accusations that he was making and, and would challenge that. And he essentially told you that he, he didn't want to see it, he didn't want to hear it. That his sole purpose was to essentially beat on the project and embarass Mr. Golden.
Roy Rodgers: That that's a fact.
Senator Louis Patrick Hill: Thank you.
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