Wednesday, January 31, 2018

Redfish Harbor Debt to the Numbers

Mayor Hayward is partners with two individuals, one is a large city contractor, in a real estate development named Redfish Harbor.

On March 17, 2006 AMFI Insurance acquired the Mortgage for $3,775,000 from the OLD Bank of Pensacola.  The same day the mortgage was given an additional advance of $383,000 by AMFI bringing the total mortgage to $4,158,000

On January 10, 2011, Mayor Hayward takes office.  As part of his new role, he agrees to have no outside business activities (including working as a developer) and is compensated with a salary of $100,000 per year.

On 11/13/2015, while Mayor, Redfish Harbor is advanced another $600,000 bringing the total mortgage to $ $4,758,000.

From a reader below:

  • Assume this speculative real estate development loan had an interest rate of only 5%.
  • Assume the Mayor has just a minority interest like he claimed in the PNJ article.
  • Assume that percentage is 15%.

  • Has the Mayor paid between $34,000 and $38,000 per year into Redfish Harbor for interest and taxes since he took office?
  • Has the millionaire City contractor paid these costs on the Mayor's behalf allowing the Mayor to pay all his back interest and taxes in the future?
  • What is the value of the City contracts the partner's other business has received since 2011?
  • Has the Mayor made any "out of the ordinary" decisions regarding the City's expenditures in the area of service served by the City contractor while Mayor?
  • Has AMFI (a financial supporter of the Mayor's campaign) received all interest payments due on the mortgage or are they allowing the interest to just accumulate?
  • Has AMFI treated other mortgagee's the same in other real estate deals?
A transparent Mayor! wink, wink.

Thursday, January 25, 2018

Mayor Meally Mouth

Mayor Wibble Wobbles All Over DC

On his last boondoggle at the Conference of Mayors, Hayward attended a White House announcement.  Remember, President Trump has been to Pensacola 2 or 3 times as either a candidate or the President and the Mayor has NEVER attended any of the visits.

But finally he tells us how he feels emphatically.

"Mitch Landrieu is a great guy," Hayward said. "He was urging some of the mayors to obviously boycott, but I'm a supporter (of Trump), and the president is our president. And I think as a mayor it's critically important — you don't have the luxury to be partisan when you represent everyone. My job locally, in Pensacola, is I represent every citizen. Our success is right there in how we've worked across party lines for the whole community."

What in the world is he saying?  lets break it down.
  • The leader of his organization is a great guy.
  • His organizations leader that the Citizens pay for him to belong urged Mayors to boycott.
  • But Hayward is a supporter of Donald Trump although he has never said so before.
  • As Mayor you don't have the luxury to be partisan when you represent everyone, although I have already said I'm Republican and support Trump in this interview.
  • My job is to represent every Citizen.
  • The last sentence is a hoot! Our success is right there in how we've worked across party lines for the whole community."


Here is my interpretation of his comments.

  • I'm in DC on a boondoggle spending some serious coin.
  • The Mayors here got a chance to go to the White House to see the President make a presentation.
  • I'm out of office in 10 months and this is my only chance to get to go to the White House.
  • I don't have a job when I get out of office and have been criticized by Republicans for not supporting the President.
  • So "I support the President" but all of you that don't I'm your Mayor too so don't be mad.
  • I'll represent you, but I need a job soon.  Tru dat!
  • I need to sound bi-partisan even though Pensacola is NONPARTISAN.
  • I hope this helps me get a job, but at least I got to go the White House.

Wednesday, January 24, 2018

Hayward's Bank...By the Numbers!

Based in the September 30, 2017 FDIC call report, Hayward's Bank had a total of $ 22,969,000 in total loans.

So the Mayor's mortgage represents 4.3% of total loans.  

Ask yourself, what percentage of your banks TOTAL LOANS (mortgages, car loans, business loans, equipment finance, HELOCS) is your mortgage?


The bank's website does not even list loans as a product.  It just has a link called "Lending" that states:

Lending Services
Please call 850-455-7351 and ask for the Loan department for information. Thank you!

Hayward's Banks Web Page

A review of Clerk of Court data for Hayward's Bank's mortgage modifications similar to the Mayor's interest only modification shows since the Mayor took office, the Bank has done 84 mortgage modifications.  Most were these types of interest only loans.

In fact, 4 modifications have been done for the Mayor. 4.7% of all modifications.

Modifications such as the Mayor's have been done for several prominent business leaders as well as numerous modifications for AMFI and Five Flags banking group executives and employees.

In fact, a review of modifications like Hayward's reflects approximately $10,000,000 of the banks $23,000,000 in total loans are under the just this type of interest only never pay down your principle arrangement. (43%)

The $10,000,000 covers approximately 25 loans.  So 25 loans are 43% of all the money the Bank has loaned out as of September 30, 2017.  The Mayor's loan is approximately 9.8% of the present total under the interest only program.

The Mayors modified mortgage is the fourth largest interest only mortgage the Bank has.
  • One is a high net worth business leader who sits on another related banks Board of Directors.  Their estimated net worth is $ 5-10 million.
  • A prominent local pediatrician with 44 years of practice.  Their estimated net worth is $ 5-10 million.
  • A retired insurance executive.  Their net worth is estimated at $ 5-10 million.
Then there is the Mayor.... 
  • Salary - $100,000 and could be unemployed this year.  Spouse's finances unknown.
  • Underlying house listed for sale for 8 consecutive years.  List price is $367,000 over the estimated value of the home.
  • Real estate "development" the Mayor is a partner in owes the Bank's affiliated insurance company $4.8 million for a property with an estimated worth of $ 1.4 million.
Ummm. I would love to see the loan file on this.  

Pensacola..Where Bob Sugar got it wrong...IT IS show friends not show business.

Sunday, January 21, 2018

Haywards "Hidden" Mortgage...Now Interest Only Til 2022??

Last week I posted that Mayor Hayward's mortgage had come due in March 2017.  Based on the Clerk's website it appeared there was no further modifications to the 2012 extension.

Check yourself!!

Search for Hayward, Ashton
Dates 01/01/2011 through today

No 2017 documents!!

But a reader pointed out a "hidden" document that the search system doesn't show.

Go into the Warrington Bank modification dated 03/14/2012.  You will see the modification til 2022 at the very bottom of the list of related documents. Book 7684/570.

So the mortgage was extended...yet again.

Hmmm.  Its interesting that the Mayor of Pensacola could get interest only mortgage extensions from March 2010, two months after he took office until....WAIT FOR IT.


Coincidence???  Was the March 2017 mortgage modification made with expectations of a third term?

Previous extensions on this mortgage ranged from four years originally to only one year twice to now another five year term.

From 2006 to 2022 the Mayor's mortgage will have been $980,000 with no principle reduction ever!!

Regulators?  Is this kosher?

Friday, January 19, 2018

Hatchery Compromise

Is there a compromise out there on the hatchery?  I think so!

I feel the Mayor has the opportunity to create a WIN for our Citizens and visitors as well as keep his promises of the hatchery.

Why not consider a new proposed location for the Hatchery at the North end of the 3 Mile Bridge where the Bait Shop and Visitor Center are currently located? 


  • FWC & the Visitor Center have already had discussions in the past to swap locations for ease of access. 
  • UWF has an opportunity to hold "Ship Talks" for the public along the water's edge with a view of Pensacola Bay, along with a display of  artifacts from our rich history...I know our Mayor has wanted keep his promise of a Maritime museum for our citizens and this will be a good start & a good use of available space within the Hatchery public areas. 
  • FWC can use the existing drawings and following bridge construction the Hatchery construction can proceed.
  • Governor Scott has assured us that the Hatchery funding will stay in place.  

The location is perfect...high visibility, easy access, on the water and a perfect use in a non-residential area.


Thursday, January 18, 2018

WOW! Mortgage Debacle Goes Deeper...Ridiculous!

I recently posted that Ashton Hayward has a $980,000 mortgage with Warrington Bank that came due 10 months ago but has not been renewed or called by the lender.  No actions have been brought to collect. Nothing!

The Board of Warrington Bank which Hayward is past due $980,000 includes Marilyn Hess.

Warrington Bank

On November 12, 2015, American Fidelity Life Insurance Company expanded the amount advanced to Mayor Hayward's Redfish Harbor development to a total debt of $ 4,758,000.


The Board of American Fidelity Life Insurance Company which Hayward and partners owe $4,758,000 includes Marilyn Hess.

AMFI Board

The Property with a mortgage for $4,758,000 owed by the Mayor and partners is appraised by Chris Jones at $1,388,635.

Parcel 1

Parcel 2

  • Hayward and partner purchased the land in 2004 for $750,000.
  • Hayward and partner sold the property in 2005 to Cody Rawson for $3,500,000 and stayed on as partners.
  • Hayward and partners have run the debt up to $4,758,000
  • The property is only worth $1,388,635.
  • Nothing is happening on the property.
The same person that allowed the Mayor to increase a $750,000 property to over $4,758,000 in debt is letting him slide on a mortgage that lapsed and came due 10 months ago.

Don't banks have Federal and State lending laws?

Did she buy a mayor?  Hmmm.  See below.

Below is a photo of Mayor Ashton Hayward at the Groundbreaking of Marilyn Hess's new hotel in NAVARRE in June 2015, right around when the extended financing on Redfish Harbor was secured.

Article about NAVARRE groundbreaking with PENSACOLA Mayor.

Why is a Pensacola Mayor at a Navarre groundbreaking?  Its not even the same county!!

Tuesday, January 16, 2018

Deeper dive on Mortgage

So, as previously posted, the Mayor has a $980,000 interest only mortgage on his home that is fully due and payable as it has reached its term.

Zillow has the house listed for $1,899,000

The Zillow estimated value is $1,531,153

He also has a second mortgage with a bank that holds City of Pensacola deposits for up to $750,000.

The house has been for sale since before he was elected Mayor.

Questions that Should be Asked

  • How many mortgages does the primary lender have that are beyond the term that it has allowed to just hang around untouched for 10 months since due date?
  • If the mortgage says fully due and payable as of 10 months ago, has the Mayor's monthly payments gone to interest or principle, or have payments been made?
  • Has the past due status been reported to the credit reporting agencies?
  • Have other bank mortgages that are past due 10 months been given the same slack?
  • How would state and Federal bank regulators look at this mortgage?
  • How would the same regulators look at the second mortgage in light of the first mortgage?
  • With the mortgage due and the house hasn't sold in 7 years, doesn't it need a new appraisal?
  • Isn't some sort of principle curtailment appropriate on a refinance or interest only FOREVER?
  • Will the Mayor be going to work for the Bank owners family after his term
Also based on houses for sale on the Bayou, it appears to be overpriced based on the size of both the house and the lot.

Even if interest only the mortgage payment must be over $4,000 per month.

The Mayor makes $8,333 per month before taxes.

And if renewing this loan, do you take into consideration that he will be unemployed in November?

Thursday, January 11, 2018

Special Treatment???

Imagine if you will that you and your spouse own a house in Pensacola. 

A home assessed by the property appraiser at $1,114,643

A home currently for sale for $1,899,000 Listing

Now imagine that a bank gave you a mortgage for $980,000....A mortgage that states payment is due:

"On demand, but if no demand, interest only shall be due on April 10, 2012 and on the same day and month of each and every month thereafter until demand is made for payment in full or March 10, 2017 when the entire balance of principal and interest then unpaid is due and payable in full."

Well, interest only is nice but what is even nicer is that here we are on January 11, 2018, 10 months after the amount is fully due and payable, and the Bank has not filed for collection, extended the note and mortgage or done anything to collect on your fully due and payable mortgage.

Now suppose you were the elected Mayor of Pensacola and the Bank that held your mortgage was run by one of your supporters.

Does that make it interesting?

Now imagine further that you and your wife have a second mortgage on that home for $750,000 with another local bank.

Now suppose you were the elected Mayor of Pensacola and the Bank that held your second mortgage was holding $15,000,000 in City deposits as of the last FYE.

In a second position, the entire first mortgage fully due and payable, and house that has been for sale for 7 years and the bank hasn't done a thing?

Does that make it interesting?

Must be nice!

Tuesday, January 9, 2018

Grover over $60,000...Impressive list of supporters

Grover had a Merry Christmas of donations from an impressive list of supporters including many Levin Papantonio attorneys. 

Is that a sign that Mayor Hayward is retiring?? 

Newest Grover Supporters:

  • Lewis Bear Company
  • All of the Bears
  • The Studers
  • Tad Ihns
  • Joe Endry
  • Ken Ford
  • LP Attorney Peter Mougey
  • Levin Rinke
  • Portofino Holdings
  • LP Attorney Mike Papantonio
  • LP Attorney Tim O'Brien
  • LP Attorney Brian Barr
  • Former Mayor Jerry Maygarden

Grover Donors

Monday, January 8, 2018

Did Bob Kerrigan's venom with Collier Merrill cost the City $750,000?

In the opinion of many, Bob Kerrigan has always run the Mayor.  Time and again we see his head pop up in City matters, but having never actually being retained by the City.

Rick Outzen posted the following document today.

Look how many times the Beggs and Lane bill regarding the Fish House lease debacle includes references to KERRIGAN.

Conferences and calls just between Kerrigan and Beggs & Lane

If the Mayor told the truth (don't hold your breath, he can't recall) would he say that Bobby K put him up to the Fish House case?

Folks we need to vote Bob Kerrigan out of office in November!!  We can't afford the legal bills for his petty attacks on people he may be jealous of or angry with.