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Saturday, September 11, 2004

Hildebrant's finances public


Judge orders documents release

By Brenna R. Kelly
Enquirer staff writer

BURLINGTON - Financial documents a part-owner of the Florence Freedom gave the city of Florence as part of a lease agreement for city land are public records, a judge ruled Friday.

Boone Circuit Judge Anthony Frohlich dissolved a restraining order that prevented Florence from releasing the records Chuck Hildebrant submitted to get the city to lease 30 acres for the baseball team's stadium.

Frohlich said the two-page financial statement and letters from two accountants "are documents involving matters of legitimate public concern and which the public is entitled to scrutinize."

The city required the statements from Hildebrant because he signed a personal guarantee claiming he had enough assets to cover the cost of the stadium and to fulfill the lease.

After The Kentucky Enquirer asked the city for the records, Hildebrant's attorney asked the judge for a restraining order to prevent their release.

Hildebrant said releasing the records would be an invasion of privacy.

Frohlich's order said he weighed Hildebrant's privacy concerns with the fact that Hildebrant "received the unique economic benefit of over $6 million in public funds." The city bought the land for $5 million and committed an additional $1.6 million for improvements and parking.

"We never disputed that they are part of the public record," Florence Mayor Diane Whalen said Friday. "We just had to wait for the judge to rule."

City Attorney Hugh Skees said the city would wait 30 days before releasing the records in case of an appeal.

Hildebrant's attorney, Stephen Wolnitzek, could not be reached. for comment

Because the restraining order has been dissolved, the city should release the records quickly, said Enquirer attorney Paul Alley.

"The public needs to see how the city's decisions were made," Alley said.

The judge also said that some of the records Hildebrant submitted will not be released. Those records include an audit confirmation that contains account numbers and other identifying information, and a listing of real estate holdings.

Two letters from accountants, Robert E. Davis and A.S. Cohen, submitted to the city by Hildebrant are public, the judge said.

Frohlich noted that the $6 million of public money used in the baseball stadium project is now at risk because stadium contractors have filed nearly $5 million in liens; the team's owners, Northern Kentucky Professional Baseball, has filed for bankruptcy; and Hildebrant has been ordered by two Ohio judges to repay nearly $4.5 million in bank loans.

Florence has also sued Hildebrant, claiming that the financial statements he submitted were false and overstated his assets.

Hildebrant is also under investigation by federal authorities over the how he financed the stadium's construction.

---

E-mail bkelly@enquirer.com




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