Financing decisions likely cost city $24 million

we’ve learned political considerations may have cost taxpayers 22-million dollars! and it all revolves around financing for the el paso ballpark. abc-seven’s top story tonight with our maria garcia. remember – initially the city said it’d save about 24-million dollars by issuing debt for the ballpark. but we’ve since learned – the financing didn’t go as planned and the city didn’t really save any money. most of council disagreed with her but city rep. cortney niland says it’s because the city got bad advice from financial consultant first southwest. “but if you think for one secon that i’m not going to stand up here and tell the truth from the very beginning because i’m getting blamed for a $22 million error that was not mine, you bet your ass i am.” “somebody made a decision t wait until after an election and that’s what cost us a lot of money and that’s really disheartening to hear that and i think ms. firth just made that statement.” as you heard the mayor and other city reps dispute niland’s claim that the loss of 22-million dollars was because of first southwest. city rep carl robinson even said niland was now trying to throw first southwest under the bus for something that’s not their fault. robinson, the mayor, lily limon and claudia ordaz all say it was the prior city manager and city cfo along with council who decided to delay the issuance of the ballpark debt until after an election. and that’s what cost 22 million. and the city’s new chief financial officer confirms that’s what happened.: was the financial advisor ever recommending delay and that never happened. as a matter of fact at one meeting they were asking about delaying and the impact and i didn’t remember verbatum what the response was but it was “you’re at market risk when you do that.” so they wer providing i believe as i went back and looked at the record carefully. i think they were providing the right advice.” the city’s cfo whom you just heard from is so sure it was not the fault of first southwest the city lost 22 million dollars. that he refused to fire the financial advisors when it was suggested he do so by city rep larry romero. alarming news on who is actually keeping watch of the city’s