July 4, 2005

They Wouldn't Do It With Their Own Money

Trent Seibert's article in today's Tennessean regarding plans for a $9.4 million privately-funded renovation of Tennessee's governor's mansion raises the question of whether such projects allow big corporations and wealthy donors "to buy access to or curry favor with the governor."

Such donations are not capped as campaign contributions to candidates are, which means companies doing business with the state — or that want to — can write eye-popping checks to the Bredesen family's important cause.

Who thought it was a brilliant idea to spend $9.4 million to renovate a house appraised at $900,100, when the house could be sold and a brand new palation residence purchased for future governors for a few million dollars less? A search of RealTracs.com finds that, right now, there are 90 homes for sale with asking prices of $1 million and up. The most expensive is this one, at 5836 Hillsboro Pike. It's 11,054 square feet on 8 acres - and $6.9 million. This one, at 24 Inveraray, is 10,600 square feet on 1.1 acres, is $3.25 million. The most expensive home for sale in the Nashville area is this one in Williamson County - 20,576 square feeet on 4.45 acres, built in 2001, and for sale for $7.45 million.

The renovation of Tennessee's dilapidated governor's mansion is being funded with private money, so we're not talking taxpayers' dollars here. Still, it shows an appalling lack of fiscal common sense. The Bredesens would never do this project with their own money.