The I Love CVille Show With Jerry Miller! - Redistricting To Be Decided By VA Supreme Court; PHA Too "Politically Juiced" To Fail?

Episode Date: April 23, 2026

The I Love CVille Show headlines: Redistricting To Be Decided By Virginia Supreme Court Piedmont Housing Alliance Too “Politically Juiced” To Fail? 75% Of Google’s New Code Is AI Generated PIC and PAC On Stewart St. Sells For $824K On 4/17 I Love CVille Will Publish All Real Estate Transactions $727.7M AlbCo Budget Passes With No Tax Increases Shake Shack Coming To Shops At Stonefield Fluvanna’s E.W. Thomas Grocery Hits 100 Years Of Service Subscribe To JerryRatcliffe.com For $8 Per Month The I Love CVille Show airs live Monday – Friday from 12:30 pm – 1:30 pm on The I Love CVille Network. Watch and listen to The I Love CVille Show on Facebook, Instagram, Twitter, LinkedIn, iTunes, Apple Podcast, YouTube, Spotify, Fountain, Amazon Music, Audible, Rumble and iLoveCVille.com.

On the set, Judah. We're going to be quiet. Welcome to the I Love Sevo Show, guys. My name is Jerry Miller, and thank you kindly for joining us on a Thursday afternoon in downtown Charlottesville. This. The Water Cooler of Content and Conversation. For Charlottesville, Central Virginia, the Commonwealth, the country, and the world. This program, we encourage you, the viewer and listener to help mold and shape the discussion.

We want to be the water cooler. We do not need to originate the news and fact. we would prefer not to. We want to offer our commentary, our thoughts, and analysis, and also share your thoughts, commentary, and analysis on what's going on out there in the news cycle. A lot we're going to cover on today's program, ladies and gentlemen. We'll talk about the pick and pack on Stewart Street.

The pick and pack on Stewart Street has a new owner. It may surprise you what the pick and pack on Stewart Street sold for. on April 17, 2026, less than a week ago. Folks, for a long period of time, yours truly, to be better educated for what is going on in Charlottesville, Almarle, in Central Virginia, I have tracked the real estate sales transactions in various jurisdictions here in central Virginia. I do it on a daily basis. Who is buying what?

Who is selling what? and what is it trading for? That is very important information. It's important information for folks that work in real estate, work in finance, work in business, entrepreneurship. Most importantly, it matters to folks who live locally who want to stay in the community. It takes a lot of work to track that information,

and I'm going to, I think I've figured it out. I think we have figured it out how to make that information more readily available to the public because it's impossible to find. We're going to start publishing that on I Love Seville. And I have promised you on this program that our 1230 to 130 show, this show, the water cooler of content and conversation, will always be free. And it will always be free for you to enjoy.

As I continue to add more value proposition, more content, to this platform, this brand, this media company that we call the I Love Seville Network. Some of that content will be behind a subscriber paywall. We've had tremendous success doing that with Jerry Rackliff.com. Now people know that news is not free. And if you want cutting edge, the best of the best, the type of analysis that is going to leave you feeling smarter about your community, that type of work takes hours to produce.

when we go live, which could be as early as today, maybe tomorrow, it will charge, it will cost $8 a month, the price of a cup of coffee. And that $8 a month, you're going to get content that you are not going to get anywhere else because we are in a news desert. And the few reporters that are local outside of, say, Hawspenser and outside of, say, Sean Tubbs do not have the institutional memory to cover this community with nuance and sophistication. I've been here 26 years.

I've been self-employed for 18 of those 26 years. I speak to every week anywhere from 8 to 15 business owners, elected officials, hedge fund folks, financiers, and entrepreneurs. Some of the content and conversation, I cannot relate to you, but much of it they ask me to pass on to you. sometimes anonymously, sometimes with their name on it. Their permission always is asked first, once I get it. That goes to you, often on this show.

Some of that is now going to go behind a subscriber paywall with the I Love Seville Network. A lot I want to cover on today's program. I want to talk about this headline that I found from a macro standpoint extremely compelling and certainly very concerning. Google, yes, Google, has indicated that, 75% of its new code. 75% of the company's new code is now AI generated. Three quarters of new code created inside Google is now generated by artificial intelligence.

It's reviewed by some human engineers, the company said yesterday. That number has been notching up in recent years. As of October 2024, 25% of the code was AI generating. Last fall, it was 50% of its code was AI generated. And now as of April 2026, 75%. Google is pushing its employees to use AI for coding and other tasks. And it's just a matter of time where more job loss will follow. I want to unpack that macro storyline and localize it to Charlottesville.

I would encourage all white-collar employees because it seems that the white-collar industries are being impacted by artificial intelligence first and most significantly. If you're in any white collar line of work, some basic tips for you, the viewer and listener, go into work, in person, get to know your direct boss, get to know your boss's boss. And if you can have a conversation with your boss's boss's boss, that would be even better.

Insulate yourself from innovation. that could cannibalize your job by making yourself indispensable, not just from a production standpoint, but indispensable by adding a personality, a name, kids, a wife, a house, hobbies and interests to your desk, to your nameplate, and to your title. We'll talk that Google storyline on today's show. I also want to ask you, the viewer and listener to this topic, is Piedmont Housing Alliance, two politically Jewish,

to fail. You've heard the phrase so many times in corporate America, we are too big to fail. That bank is too big to fail. That airline is too big to fail. And speaking of airlines, how about the bailout that's on the horizon for budget airline spirit? Just a matter of time to another airline is bailed out. As folks see them as public utilities in power, as opposed to the businesses they are, which I think is a load of BS folks. It's not a public utility. You mismanage your finances. You get ahead of your skis. You don't plan for the worst case scenario. Darwinism, capitalism.

You should fail. Even if that means Americans face difficulty because another airline goes under. I digress. I'm sorry. I want to ask you this question locally. Piedmont Housing Alliance, the nonprofit developer, is it too politically juiced to fail? Sanchon Maython is the executive director.

Does the executive director of this nonprofit developer realize that it is one of the few developers locally that are prioritizing true housing affordability, true housing stock for those that are on the financial margin, true housing types for those that are historically marginalized either due to race, sex, income, record, credit, And because of that is the nonprofit developer too politically juiced to fail, meaning it can get ahead of its skis, continue asking for money, misperform its deadlines, and city council will bail out, bail out, bail out, and bail out the nonprofit. Yet again, that's a topic I want to talk on the show today. I want to talk about the new redistricting that's ahead of us. It was approved by about three percentage points.

I called the over under at three points. I would have lost the prop bet if Judah had taken it and would have had a McCallin 12 on his desk as of yesterday. 2.82% it was approved. I thought it was going to be over three. Now it's up to a Virginia Supreme Court. David Tuscano, one of the most iconic politicians in Commonwealth of Virginia history,

has sent yours truly. Here's what's next to expect, Jerry, on redistricting in the Commonwealth. along his thoughts to you, the viewer and listener on the I Love Seville Show. I also want to talk about the Stewart Street pick and pack, $824,000 for the pick and pack on Stewart Street, a transaction that happened on the 17th of April, a place where you could buy your knick-knacks, your lottery tickets, your cigarettes, your malt liquor, you're aged and dated and expired ho-hoes and twinkies, your digital scales, your glass bowls, your knock-off

vape cartridges, fake flowers, fake flowers. No paddy wax? What is it, Judah? No paddy wax. What's no pad? Two-shot, Judah Wickhauer's got me thinking here. No patty wax. You said, you said knick-knacks. Oh, very good, Judah. Nicknacks. Can you sing it for me? knick-knack paddywack give the dog a bone give that damn dog a bone this old this old man came rolling home this old man came rolling home 824 thousand dollars for a knick-knack paddywack give that old dog a bone only at pick and pack only at pick and pack 824 thousand dollars i want to unpack that storyline digital scales and glass bowls and outdated twinkies and expired ho-hoes and all the colp 45 and camel cigarettes and and and and lottery tuesdays

tickets you can buy and don't forget that Natty Ice and that Bush Light. That location, my friend, is premium. We'll talk about it on the program today. We'll talk about a grocery store in Fluvana County celebrating 100 years, Judah. Yeah, pretty easy. What a milestone for a grocery store in Flavanna County? No doubt. A lot we're going to cover on the show, including Shake Shack, opening in the old Burger Batch location in Stonefield. I find that move surprising. Really? P pasture failed there. Yeah.

Burger Batch failed there. I mean, I don't know that I would say that Burger Batch failed there. What do you mean? It's closed. Yeah, and it was open for how many years? The extent of its lease and decided not to renew. That's called failing. Okay.

If it did not fail, it would still be open. You don't close successful businesses. Okay. You don't agree? I mean, sometimes people decide to get out of a business. I'm not saying I have the answer one way or the other. I'm saying I do have the answer one way or the other. I mean, I've seen that place.

I saw that place filled more often than not. And you probably went there. Would you probably go there when watching a movie at the theater? Sometimes. And that was one on a Friday or Saturday night? Sometimes. How about going there on a movie? a Monday or Tuesday or a Wednesday or a Thursday. I've been there on other days. The Friday and Saturday

night business is the expectation. The true generator of profitability in food and beverage, hotels is another good example, is what happens on Monday, Tuesday, and Wednesday. So you're saying that no restaurant should use that spot? I'm not saying that. I'm saying there's some spots that are inherently more doomed than others. And it appears to me, viewers and listeners, I'm curious of your thoughts, that the shops of Stonefield, maybe because the rents are so high, or because there's no local Geneseecoa? And the shops at Stonefield? I give you a chance there.

Geneseequa. Chance to what? Make fun of you? Yeah. I mean, you've kind of got it right. I give you often chances to make fun of me. Sometimes you choose to take them. I mean, there's not really a whole lot to make fun.

Geneseequa just means, I don't know. What's the draw for the shops of Stonefield? You probably have to ask someone other than me. I don't go there very often. What's the draw for the show? The movie theater? No, not for most people. The Trader Joe's?

If you're going to go to a movie, then yeah, of course the movie theater is a draw. What's the draw? It's not Trevinia. It's not pasture. Definitely not Trevinia since it's been nonexistent for a number of years. I mean, I think for most people. It's not the Brooks Brothers. It's not the Brooks Brothers.

What's the draw for the shopping? to Stonefield? I mean, it depends on the purse. Is it Mr. Wolf's Lego store? I love the Lego store. He's doing a great job at the Lego store. Those damn Legos are expensive. Our son was invited to a birthday party in the side room at the Lego store, and I was walking

around the retail portion of the Lego store. I was astonished with the price tags associated with even the tiniest of tiny figurines. A lot we're going to cover on the broadcast today. I'd love to give some attention, Judah, to our friends at Charlottesville Sanitary Supply. We got a fantastic message yesterday from a viewer and listener. He and his wife watch and listen to the show. They love our show, Judah. I made sure to include you on that thread.

They love our show. Who is this? Goodness gracious. You included you on the text message thread with the screenshot of the email. I see you are reading it. They love our show and feel it's the content source for anything and everything, Charlottesville. of the long-form nature and because we're unafraid, unabashed, and unaffiliated.

Then they indicated that they tried Charlottesville Sanitary Supply or considered Charlottesville Sanitary supply for their vacuum repair needs and vacuum purchase needs because of the program. Now, I want to highlight for the viewers and listeners, Charlottesville Sanitary Supply is your choice for anything vacuum purchasing. The meal of vacuums are amazing. That's the one I suggest for you. No doubt. And vacuum repair, anything sanitary and cleaning, anything Bona floor related,

staining your bonas, cleaning your flooring with Bona, staining your flooring with Bona, anything swimming pool related, water testing and pool covers and pool robots for cleaning and pool shade, above ground pool construction, in-ground pool construction, goodness gracious, those vermilion men are Renaissance individuals. Redistricting, should we start there? sure. Now with the hands of Judah, the Virginia Supreme Court, the Virginia Supreme Court has the dubious distinction of this.

Are you ready? The popular vote suggested they wanted gerrymandering in Virginia, redistricting in Virginia. Will the Virginia Supreme Court, with its ruling, determine whether the new maps are fair, unfair, legal or against the spirit of what our ecosystem is all about? Yeah. I've heard a lot of people say that the Virginia Supreme Court will react very differently than the Taswell Court has

and that they are more likely to uphold what they see as a popular vote, though saying that 50-50 vote to reason. district to a 10-1 split is not exactly holding to, it's not exactly honest. You're saying it was the three points was not enough of a landslide for the Supreme Court of Virginia to say, oh, this is what the Commonwealth wants. Is that what you're saying? I'm saying the Virginia Supreme Court may well go as far as saying that that a three-point win clears the

margin to allow this to go through as a popular vote. However, I think it's obvious to everyone, including people who either delude themselves or lie to themselves, that a

basically a 50-50 split vote is clearly not in the spirit of turning our state into a 10-1, especially when you look at the absurd, the drawn nature of the absurd districts. Yeah. And how they're so extremely obviously gerrymandered. I believe one of them is now being called the Lobster District.

Yeah, the Lobster District. Because it looks so goofy. And I think this is one of the first times in the history of gerrymandering that they're not just changing voting blocks, they're actively splitting counties into sometimes three parts to enact their plan. I got a couple of statistics for the viewers and listeners before I highlight what David Descanos sent our way. More than 3.1 million voters participated in the referendum. 3.1 million plus Virginians voted. I'm going to put that in comparison with a comparable. I'm going to comp it. this was an off-cycle election very off-cycle extremely off-cycle

in November which is not an off-cycle election it was the governor's race 3.4 million votes were cast 3.1 in the referendum 3.4 in this past November governor race

here's another statistic that's interesting for you roughly 100 million, this is from David Tuscano, roughly $100 million poured into this race on Tuesday, much of it from out-of-state dark money packs, of course, nearly matching the $112 million just spent in Virginia's 2025 governor's race. Do you hear what I'm saying, folks? This election, this referendum on Tuesday, 3,100,000 plus voter participation,

comping that to the governor's race in November, 3.4 million people. 100 million in political action committee investment, almost the same as the 112 million spent in the governor's race in Virginia. Now, here's some David Tiscano commentary. I'll read it verbatim. I have a lot of respect for David Tiscano.

In dramatic fashion, Virginia voters decided on Tuesday to resist Donald Trump's effort to rig the midterm elections. The vote gives the Virginia legislator temporary power to redraw congressional maps, potentially boosting the Democratic delegation in Congress by as many as four seats this January. Democrats need only clear one more hurdle in their fight to level the playing field in Washington. the Virginia Supreme Court could still rule that the referendum does not pass legal and constitutional muster. A very heavy lift given the weight courts traditionally give to the expressed will of the voters. Beyond that, David Descano says, a larger truth remains. Political outcomes are not predetermined. They are shaped sometimes dramatically by voter participation and timing.

Tuesday's vote is a reminder that even in an era of deep polarization, electoral decisions still carry lasting consequences for the direction of American democracy. Now, what does this mean for Charlottesville and Amar County, the next headline on screen if you could? Well, it means Charlottesville, Nowmore County are now in which district, Judah? Is it becoming the sixth district? The sixth district. The sixth district.

and now it appears, Judah, that the Democratic primary, much like Almaro County with its Board of Supervisors and Charlottesville City Council races, the primary is the deciding factor for this congressional seat. If you're a Republican in this newly drawn 6th District, your chances of winning became much, much more slim. Tom Perry Yellow must be a heavy favorite right now. Yeah, he's announced that he's switching from the fifth to the sixth.

Has no choice. I believe his, who would have been his opponent, has not announced a... John McGuire. No, no, no, I was talking about... Oh, in the Democratic primary? Yeah. Beth Macy, the author and former journalist. I want to...

I want you to understand what happened here. Tom Perriello is so savvy and sophisticated and connected that he played a game of chess. He knew, this is what Tom Perrello knew. He said Donald Trump is in his second term in Washington. Donald Trump, in the first year on the job, partnered with Elon Musk with Doge to basically castrate the government of power in some ways and strip it of bloat by trimming positions left and right. When Trump and Musk,

through their doge strategy and tactics that apparently appears to have backfired, started stripping DC of bloat, northern Virginia was dramatically impacted. Periello no dummy realizes that Trump and Musk alienated and polarized much of Northern Virginia and that massive voting block. He also understands the rumblings and grumblings

that Democratic power players have with redistricting in Ohio, North Carolina, in Texas. Tom Perry-Ello's super-connected with Democratic power players locally in the Commonwealth, the state senator, Lucas, Yeah, that sounds familiar.

He decides to jump in the race. When he jumps in the race, his chance of winning this race is redistricting materializing. He knows that he'll shift from a fifth to a six. The incumbent John McGuire will have little chance. The stranglehold the GOP has on the fifth, Bob Good, Denver Wrigelman, John McGuire, will no longer be a stranglehold. in fact, won't even be a slight pressure hold. He'll be in the driver's seat and then just has to clear the Democratic primary

and then he's on the way to the finish line. Periallo playing chess when others are playing checkers. We will see what happens in the Democratic primary, but I don't see his stiffest competition, the journalist and the author Beth Macy having the name power and the institutional memory or the equity to beat him. There's also Republican Representative Ben Klein,

who's the incumbent. Who has no chance. And hasn't denounced his, he's rerunning. And I believe there's another Democrat, Rob Trichinsky. Who has no chance? There you go.

Tom Perriela is a former congressman. You're looking at your 6th District Congressman here. So unless the Virginia Supreme Court, says no way, Jose. You're looking at Perry Yellow as your congressman. And Tuscano believes the Virginia Supreme Court would, is not going to overturn this because they're going to, if they do, they're overturning a popular vote.

I mean, that's questionable, but... The point that you make is the fairest point, the lack of equity behind these new districts. Yeah, there's also the, there's also the question of, of last, last, last minute mail-in votes. And Fairfax. Taking, taking us from, I think, a pretty clear. Yeah, Patrick Bull, when you get to it, how does Fairfax come up with 35,000 mail-in boats? On the nose, 35,000 mail-in votes in the last minute.

Yeah. I mean, Patrick Bull, just put that in the feed. Yeah. We can talk about that all day, but obviously. Carol Thorpe, what do you think is going to happen here? Carol Thorpe, you follow this as closely as any. What do you think the Virginia Supreme Court is going to do, Carol Thorpe? Barbara Becker-Tilley, welcome to the broadcast. Rob Neal, Spencer Pushard, welcome to the show.

Talented insurance broker, Jeremy Rowe, welcome to the show. What do you think is going to happen, Carol Thorpe? I'm curious of your thoughts. Philip Dowell, the mayor of Scottsville. All right, next headline I want you to put on screen. Green. Lonnie Murray, welcome to the broadcast. I would say the, I mean, the... Don Gathers, hello.

The Taswell decision was actually seemed pretty, pretty fair, all things considered. Yeah, but we, everyone knew it was then going to go to the Taswell decision. The Taswell judge. I'm saying... Taswell judge is not the shot caller, the big-time baller. Right. Virginia Supreme Court is. And so you're saying they don't care about the Constitution or the rule of law?

I'd say the, no, if I'm on the Virginia Supreme Court, I look at these districts and say, this is absolute bogus right here. This is insane. What these new districts are doing is a straight up slap in the face to the rural voter and the rural Virginian who's being lumped into urban environments where their ideologies and their wants and needs are the complete opposite in some ways with their city it's city it's that's what in southampton new york the manhattan heights that come during the summer months and make life miserable for sam sam hampton uh year-round residence city it's city it's but the virginia supreme court i don't think

there's the the backbone or the fortitude or the courage or and look at the period of time we're end. We have, we're in the end of April. Yeah. Primaries. So you're saying the... This is genius how this all played out by the people in power with the Democrats in Virginia. So you're saying that they're banking on the Virginia Supreme Court having absolutely no integrity. Oh, obviously. All right. Just put it out there. Saying it out loud. Conan Owen watching the program.

The new district maps dilute minority majority districts. Serious case of white savior mentality by Virginia Democrats. And the interesting thing, and the interesting aspect of that comment, Conan Owen, is the folks leading the charge within Virginia Democrats are of, are black leaders. Yeah. These are black leaders within the. Virginia Democratic Party that are leading this charge. That's the interesting thing here.

There may be some strategyary among the higher-ups, but I think for most people cheering this on, there's very little thought besides Orange Pad. Patrick Bull says, I believe David Tiscano is absolutely correct. Carol Thorpe said Tom Periello failed to win a second term for his House seat and failed to win the Democratic nomination for Virginia governor. Furthermore, he worked for George Soros Open Society Foundation. I wonder how money old George will end up kicking for his campaign. I wonder how much money old George will end up kicking for his campaign. Carol Thorpe, I'll ask you this question. Carol Thorpe knows this stuff as well as anyone I know. Carol Thorpe, is your prediction that Tom Perry Yellow

will be the 6th District Congressman? What are your thoughts on that, Carol Thorpe? If you were a prop betting lady. And I know you like a prop bet from time to time. Philip Dow says, you watch. There'll be money invested in the Virginia Supreme Court to green light this redistricting. Wow. Do we call that investment or do we call that tomato tomato? I mean... Don't tell the Charlottesville, don't tell the southern

what is it the... Southern Poverty Law Center. Don't tell the Southern Poverty Law Center. Don't ask the Southern Poverty Law Center. Don't ask the Southern Poverty Law Center, that's for sure. The old Southern Poverty Law Center alleged to have stoke race baiting and stoking paying racial riots

so they can be the saviors or the mediaries to calm the race baiting and the racial riots on the other end. Let's pay white supremacists so we can fight white supremacists. Jeez. Genius. Charlottesville tied in that.

An informant paid to Charlottesville and they unite the right rally for the southern... Southern Poverty Law Center. Carol Thorpe, I think the combination of several factors, unconstitutionality, the destruction of two black majority districts, and voting questions about Northern Virginia's mail-in ballots with a razor-thin victory, will pressure the Virginia Supreme Court to toss out the election. If not, they've got some explaining to do... Carol Thorpe, on constitutionality, we all see it, the destruction of two black majority districts,

we all see it, and huge questions about mail-in ballots in northern Virginia. We all see it. Seems to be enough evidence to say, no way, Jose. But we'll have to wait and find out. Time will tell. Conan says, Virginia Supreme Court lacked the judicial fortitude to decide on the rulings before the referendum, They were hoping it would be defeated so the cases would be moot. 100% right, Conan Owen.

100% right. Next headline, what do you got, Judah? Next up, we've got the Piedmont Housing Alliance. Deep Throats got some comments. Ginny Who's got some comments? Oh, no. That was from yesterday from Ginny. Let's go to Deep Throat.

Piedmont Housing Alliance I'm going to get to. Deep Throat says, I think the Virginia Supreme Courts are looking at procedures. questions rather than substantive ones was the special session properly called for constitutional amendment passes etc and at the federal election law level scotus has made it clear that political gerrymanders are permissible unlike a racial gerrymanders so this is procedural and not substance but it matters because a loss on procedure would probably mean there is no way to change the 2020 map in time for this November even if the Dems and control

of state government could simply have another go eventually. They cannot be a fight over the black majority districts being lost yet because the referendum only allows interim redistricting. We know practically what the map is going to be, but technically it

has not yet been passed, so the challenge can only be in the referendum itself. That's good intel right there from deep throat. We'll follow it closely on the I Love C-Vill show. I love you guys that are super smart on this. that offer insight and make all the viewers and listeners better.

The next topic I think is going to wet your whistle Carly Wagner and Deep Throat and James Watson and I think it's going to wet your whistle. City counselors and supervisors that are watching the show. Don Gathers, I think it's going to wet your whistle. Tom Sturgel, the Golden Apple Award winner, handsome Hank Martin. I want to talk about Piedmont Housing Alliance.

and we're going to talk about Piedmont Housing Alliance in a straightforward way, and we're going to spare no expense, just like Piedmont Housing Alliance does with its development. Somewhere, Sunshine is shaking his fist at me. It's okay, sunshine. It's okay. There's at least one person on this planet that is allowed to give you a hard time. Is Piedmont Housing Alliance too politically,

juiced to fail. We've all heard the phrase too big to fail. The banks are too big to fail. Lehman Brothers is too big to fail. Spirit Airlines is too big to fail. Bank of America is too big to fail. Is Piedmont Housing Alliance too politically juiced to fail? Hear me out. Piedmont Housing Alliance and Habitat for Humanity, Charlottesville. your two nonprofit developers that on paper are focused on housing stock development for truly financially marginalized locals. I'm talking your black and brown population. I'm talking your income strapped population. I'm talking your credit unworthy population. I'm talking your criminally reformed population. I'm talking your unemployed, employed, in and out of work

population, your marginalized population. The folks truly building, at least on paper, the housing stock for this group of people is Piedmont Housing Alliance and Habitat for Humanity, Charlottesville. You've got Dan Rosenzwegg leading one outfit, Habitat for Humanity, Sunshon-Mathon, leading another outfit PHA. I'm going to make a convincing argument, or at least I think is a convincing argument for you, the viewer and listener, that suggests PHA, Piedmont Housing

Alliance is too politically juiced to fail. I'm going to utilize the Carlton Mobile Home Park. I'm going to utilize this 501 Cherry Avenue as examples of

what I'm talking about. 501 Cherry Avenue. Kim's Market. the IGA on Fifeville and Cherry Avenue that was recently approved as of Monday that Piedmont Housing Alliance can buy it from Woodard. I'm going to say this again.

I saw Anthony from afar yesterday. Anthony, I'm sure some of this conversation has rattled your cage. And I don't intend it to rattle your cage. I think Woodard did a phenomenal job or it will do a phenomenal job when this sale closes of getting out of

this boondoggle that is 501 Cherry Avenue. This became something bigger than you ever expected. Once you invited the Fifell HOA to have a seat at the table and then brought PHA in, you lost control of this project. You lost control of time, you lost control of performance, you lost control of outcomes, and the finances tied to this project became, I mean basically you throwing good money after bad, lighting money on fire. So to sell it, even if it trades at a loss is good for you in the long run. Sometimes the best business is getting rid of business, even if the business you get rid of cost you money.

It takes you a while to realize that. It's like a relationship. Piedmont jumps in and they know because they're building housing types for black and brown people, building housing types for financially strapped people, building housing types for people that are in and out of work, building housing types for the uneducated, building housing types for the criminally reformed, that in this world that we call Charlottesville and Almar County, they have the political juice. And they know that every single candidate in some capacity, Alboro and Charlottesville has run on affordable housing.

Sally Duncan. Mike Pruitt. Mike Pruitt's going to join us on the show next. What day is he? I saw Mike Pruitt walk in the downtown mall today. We had a short conversation. It was enjoy seeing Mike Pruitt, smart guy. He's going to join us on the show on Wednesday.

Sally Duncan, affordable housing. Mike Pruitt, affordable housing. Ned Galloway, affordable housing. Fred Missile, affordable housing. Bealipistow Curtley, and, Anne Malick, eh, but they're two of four.

Look at counsel. Lloyd Snook, eh, but certainly Michael Payne, Juan Diego Wade, Jen Fleischer, and Natalie Osharing. Understanding these political trade wins and understanding that Charlottesville and Almore was so effing expensive

is making Piedmont Housing Alliance insulated to poor financial modeling, missed performance deadlines, missed promise deadlines. The Cherry Avenue project has been going on for so long. Construction was supposed to have already happened. They've gone to counsel three different times that I know of looking for more money and or amendments to previous agreements. This past Monday, it was an amendment to an agreement. Now they want the money to buy the project. The time before

that was the need for an extra $700,000 and we need it right now or the whole project is going to implode. They're getting a 42-year loan from taxpayers at a 3% fixed interest rate Piedmont Housing Alliance. Who wants a 42-year loan at a 3% fixed interest rate, viewers

and listeners? Everyone. Wave your hand in the air and put your hand in the air and wave it around if you just don't care. I mean, I want that loan. three years, that's free money. I mean, 42 years, a 42 year amortization schedule? What is the shelf life of what's being built over there? The shelf life of this housing stock that's probably being built is what? This is out of my purview here.

For the folks that work in development that are watching the show, what's the show? Carly Wagner, this is right up your alley. Like 20 years before they'll have to redid it. do it. We had a conversation with the guy that is building the apartment tower on stadium in the shadows of the Scott Stadium.

Why am I drawing a blank on that? I think it's I loveceville.com forward slash new development. I Love Seville. Damn it. What is the one where I was talking about the new projects that were coming online? Oh yeah.

I Loveceville.com. Here's what you guys should go search if you want to know what's going I loveceville.com forward slash new construction. There's a total of 1,437 luxury units that will be delivered to market within nine months of each other starting this year and into 2027. The Verve. It's the Verve, Jerry. Remember this and burn it into your subconscious, Jerry. The Verve Scott Stadium. The Verve, Scott Stadium. The Verve 100 Stadium Road. One more time, Jerry. The Verve 100 Stadium Road. 463 units, 1,332 beds. It's going to be delivered about a year from now. It's luxury. The guy who we had from the show, from the developer, the national developer, out-of-market developer, subtext.

He came on the show, and he said the housing stock, the lifespan for this housing stock, was like, I think it was like, if memory serves correctly, it was like, I don't even want to put a number on it, but it shocked me the number. Like they're building these hundreds of millions of dollars of apartment towers and multifamily. And they're like, dude, kind of like the shelf life of this is kind of like how we look at fruit on a grocery store shelf. I think we wanted to say it was like 70 years.

Carly, that's really up your alley. Rob, that's really up your alley. Deep throat, that's really up your alley. 42-year loans that fixed 3% interest rates, you're talking about the stuff that you're building will be well past middle-aged. while the debt is still being paid off. And what's probably going to happen is they're going to get a loan that's going to be forgiven by counsel. Because when the project is finished, they're basically going to go to council and say, look, we're leasing these places to poor folks.

And because we're leasing these places to poor folks, they don't have the money to pay market rents. And because they don't have the money to pay market rents, please, oh, please, oh, please, will you just forgive our debt and write it off? all you have to do is raise the real estate tax rate by another cent or two, and then we'll make up the debt service that's outstanding, because that's in perpetuity. The thing that I found most concerning about this that's not being talked about is the PHA asking counsel to forgive the real estate taxes.

Initially, Sunshine and Piedmont Housing Alliance, asked city council, and I'm going to my notes here, I'm opening it up right now. Initially, Piedmont Housing Alliance asked council, see if I can find my notes, to forgive or offer an abatement or tax relief on 30% Judah, 30% of the real estate taxes. Because they're like dudes, I mean, dudes and dudettes,

we can't pay full tax exposure here, our full tax base, because we're going to be leasing these 71 units dudes and dudets to poor folks. So help us by giving us a tax break. Now they're asking for 100% tax relief. So hear me out. You're not just asking for 100% tax relief on 501 Cherry Avenue as it is right now, which is a piece of crap.

It's a building that has holes in the roof. And crackheads chasing the rock and chasing the, the dragon in the corner of the building where the moldy bread and the coal 45 used to be sold, or the pothole-ridden parking lot that has needles and busted pipes all over it. I'm not talking busted pipes of the water variety. You are losing out on the real estate tax revenue on a piece of property that will soon have 71 apartments on it, a grocery store and the future home of the Music Resource Center. Right now it's earmarked between $40 and $50 million.

We know that number's light because that's a 2025 metric. And we also know that they never hit their financial benchmarks, their predictive benchmarks on construction. So once this is finished and the above-ground enhancements, the above-ground improvements are assessed by someone that's third-party. this tax collection that is there now will be extremely different the tax base once it's finished. But they want 100% wash of it. Yeah.

I'm trying to make an argument for you, the viewer and listener, that you're looking at a nonprofit developer that is so politically juiced that they can't fail despite getting ahead of their skis or stretching well beyond what a for-profit developer. could do. A for-profit developer could not make this work. A very wise person who's watching this program right now. A very wise person sent me this. This wise person said, Jerry, you must keep this anonymous. If a private developer built 71 apartments with market rate debt,

that private developer would need to charge $4,700 per month per apartment to not default on a legitimate loan. 4,700 per month on an apartment, not to default on a legitimate loan. That's on a $30 million loan for $40 million price. Wait till this project checks in well north of $50 million. I had a conversation with another very connected person this morning.

This person asked that I not use their name. I'm not even going to tag a pronoun to this person. And this person said, I was watching and listening to your show this week. And you asked, which is the more significant boondoggle? The 2000 Holiday Drive, or $20 million, is going to yield 80 Coleman sleeping bags in a 32-ounce Yeti tumbler for the homeless folks that are still going to camp out on the downtown mall and chase the dragon on the banks of the Rivana River. Not even going to use the Coleman sleeping bags.

They may take the Yeti Tumblr to fill it up with some Mad Dog 2020, wherever Vesabule or river they're camping next to. Certainly not going to be inside a converted office building. Maybe they're seduced inside the converted office building because they can have the leftover prime rib from the fantastic restaurant that's next door and the dumpster behind it. Okay. The boondoggle of more significance, the Holiday Drive or the 501 Cherry Avenue.

He's like, dude, it's not even close to boondoggle that's more significant. It's the 501 Cherry Avenue. At least the 501 Cherry Avenue, excuse me, at least the Holiday Drive is confined specifically to the city. Yeah. The Cherry Avenue, one, you rescue a private developer. The Cherry Avenue, you bring in a non-preventory. developer that's notorious for overruns and missed benchmarks. And the Cherry Avenue, you're going to have the city on the hook for this political

juice moving forward because of the 71 units. Every activist is going to scream and cry. We need those units. And the grand scheme of things, 71 units? What are you going to tie it to an area median income? This comes online in 24 months, okay? Let's say this comes online in 24 months. 24 months is ambitious as duck.

You're saying how much has the area median income had gone up by then? Yeah, yeah, exactly. So if it's 135? It's 1258 right now, 125 and 9 right now. Yeah. The new number is coming out in a few weeks, the new number. Okay? Let's just use for the sake of conversation 125,900.

125,900, right? Area median family household income. What are we going to tie it to a 60% clip? 60% of area median income? You want to tie it to a 60% clip, these 71 units? You think they're going to go that low? I mean, it makes sense if you're trying to do affordable housing to go lower. Let's tie it to a 60% clip.

It took me a while to fully understand AMI because everybody's talking about 80% and I'm like, wait a minute. Like most everybody in Charlottesville is below 80% AMI. 80% clip median family household income is 100,000720. I don't agree with you that most are because most that are in this situation have two. people working. So if area median family household income with two people working is $100,720, divided by two, that's each partner making 50 G's. Okay? So most people that have two people working are not below 80% AMI, but you're digressing here. Let's stay focus here. 125,900. 125,900. Let's times that by 0.6. Let's say they get to 60% AMI. You're talking 75,000.

540 median family household income for these 71 apartments. That's why the AMI metric is so fatally flawed. Because as the AMI goes up, and dude, wait until you see what's going to happen to the area median income in 24 months when AstraZeneca and Eli Lilly and the Paul Manning Biotechnology Institute are fully online, AstraZeneca alone, 600 new people moving to this area

at a bone 25 starting salary. Wait to you see what's going to happen. the AMI. That's why this individual this morning was like, dude, it's not even close, man. Cherry Avenue is the biggest boondoggle of them all. Throw in the grocery store if you want the cherry on top for the

boondoggle. Throw in the grocery store. Then you really got a cherry on top boondog. At least with the city standpoint, the holiday drive is confined to the city. Deep throat, I'm glad you'll offer some commentary. Deep throat likes my commentary on PHA. He says, Piedmont Housing Alliance had Lloyd Snook on its board until 2016. Piedmont Housing Alliance used to have a representative sitting on the very city committee

that decided on affordable housing subsidy awards. City thankfully changed that. He says their efficiency is an absolute joke. There are very good affordable housing developers out there that operate nationally that are so much more innovative in terms of construction. efficiency. He suggests rise modular, mercy housing, Penrose,

and EDC. Deep Throat also says the city refused to provide any subsidy to the project UVA is trying to make happen on Whartland Street. The average construction costs per square foot for that project, arranged by P-O-A-H comes to like

325 compared to the 500-plus for Cherry Avenue and Piedmont Housing Alliance's project. The PHA project is going to be forever upside down. This is a huge problem for affordable housing. The rent rule is not enough to meet debt service and to keep the place well-maintained. Presumably, PHA will ask or has already asked for federal and Virginia tax credits to help with costs.

I am not sure this is a project that would win those credits. Think of the fiscal impact, by the way. Zero property tax incoming. If you say 50% of those apartments are occupied by people in need of substance, subsidized housing who were living somewhere else or would have been living somewhere else, think about the burden of service they will consume. What if this leads to an additional 30 public school kids at $900,000 a year? 30 public school kids.

Hear what he's saying. Counsel does not think about this. Let's say the 71 apartments have 30 additional kids that go to Charlottesville public schools. and the back of the napkin for those 30 kids is $30,000 needed from taxpayers to fund those 30 kids per year in the public school system. Do you see the cluster duck that city council has done? 900 Gs just tied to the kids. I didn't even think about that one. Thank you, Deep Throat.

I didn't even think about that additional cost. I thought about the additional cost of the Miss Real Estate Tax. revenue. The easiest way to look at the missed tax revenue and it's not accurate and it's super elementary and I fell victim to this initially is to miss the tax revenue today. Right. Because it's not going to be the same tomorrow. Exactly. It's going to be a... They're building 71 apartments on it. A grocery store and the home to the music resource center. The tax base is completely different then. Okay. Right. So you're not just giving away $10 a year. It's, you know, multiple multiples and multiples of that.

There's one. Then the 42-year loan at a 3% interest rate. What kind of crazy-effing loan is that? There's that. Then there's the fact that we've all made a convincing argument that this doesn't pencil out. So you know PHA is going to go to counsel and say, forgive this loan.

There's that one. I didn't even think of the kids one. Yeah. I didn't even think of the kids one. How about this one? The gateway to Fifeville is going to be an apartment complex that doesn't pencil out and is not going to look that great because there's not enough money to maintain it. How about that one? This stuff isn't being considered, though.

This is why you watch and listen to the show. if it had stuck with with woodard properties would they have had to maintain it would they have had I mean make your point that you made yesterday about what I'm not sure I fully remember but let's see wooded basically got out of this great I don't know if I wouldn't use the word great we need to see what the sales prices we know the purchase was done in August of 2022 so 23 24 25 26 let's just say for the sake of conversation This trades in August of this year. It's going to trade before that.

But for the sake of conversation, I don't want to do some quick. All right, I'll do some quick counting. Let's say this trades. Hold on. Let's just say this trades in May, and then I'll let you jump in. Let's say this registers in May. From May to August, it goes, what? June, July, August, so three.

So 2022 till now is four years. Four years times 12 months is 48 months. 48 months will subtract three months from it is 41 months. 41 months from purchase to sale. Let's go. 41 months times 20K, Sunshine Mathan's word. He should never have said the $20,000 in the council meeting.

He made wooded properties look terrible. Sunshine, you made Woodard look terrible by saying that. 41 times $20,000 is $820K. He says they're paying around about $20,000 a month. They're only paying interest on that. On top of the deep throat, I'm looking for you here on some confirmation of total cost here. 820K plus the $3.5 million purchase.

That's 820. Give me your back of the napkin, too, here quickly, Deep Throat. $4,320,000. That's what I want to know, too, Deep Throat. Keep going here. I think is the back of the napkin of what they have financially invested, Woodard on 501 Cherry Avenue? Is it $4,320,000 back of the napkin, Deep Throat?

Is that what's your pencil, your back of the napkin is? And that doesn't even include the opportunity costs and the headache and the lunacy and the psychosis and the clawing your hair out and the miserableness of being a part of this deal. The opportunity cost of mental health strain. The opportunity cost of miserableness of dealing with 87,000, 87 cooks in the kitchen. What is the fact? He says yes, basically. my math is about point, plus property taxes, plus the property tax.

What do you think is the back of the napkin? It doesn't have to be exact. What do you want to have it at? You peg it at 4-6, at 4-7 deep throat? He's got the bubbles popping here. The bubbles are showing up on my DMs. This guy would know this. Let's see what it sells for.

And I interrupted you, and I apologize. Why it interrupted you is I don't think Woodard is going to make out great. But I mean it comparatively. I mean, yeah. If they lose money, okay, of course that's not great, but how much were they poised to lose? How long was it going to go on before they could even get started on this? Now, not only do they not have to worry about getting started on this, they get a cash payout, they can move on to the next project, and they cut their ties.

It's not cash payout. Well, okay. They've got a boatloaded debt on this. But go ahead, go ahead. The point being that they can allocate their resources somewhere else, and they don't have to continue dealing with, as you said, the 87 cooks in the kitchen. John Blair, well said, props to Judah Wickhauer. Judah Wickhauer has become a businessman here, ladies and gentlemen.

The I Love Civo show is a master class in business for the Jack of All Wits. John Blair says, in addition, Jerry, John Blair would know this. John Player would know this. He says, in addition, Jerry, to forgiving the loan on the residential component, how much is the city going to have to subsidize on an annual basis for the grocery stores operating losses? Jesus Christ, do you see what is happening here? And not just the grocery store.

Not just the grocery store. If it pencils out that the apartment should rent out at $4,000 plus per, then how much is going to be subsidized for that as well. Yeah. And then, like you said, if PHA can't maintain the place because they don't have the money, how much is going to be subsidized to make sure, like you said, the... The place doesn't look like a dump, a slum. The entry to Fifeville.

A historically black neighborhood, marginalized neighborhood, doesn't look like a slum. Yeah. Across from a park, down the street from a school. John Blair, great point on the subsidy of the grocery store. Yeah, no doubt. This is the biggest boondoggle of them all. And you know the craziest thing about this? And this is what I love about this show is,

you guys also help me become better at what I do professionally. I sincerely, sincerely mean that. The individual I had a conversation with this morning, who asked that I had not used their name, Deep Throat and the DMs, and John Blair on LinkedIn. You guys, and all you viewers and listeners make me better. at my job. I sincerely swear to God mean that. I think you know I'm being

extremely sincere here. All this is being done in the mission of affordability and diversity and equity.

Basically DEI. This is DEI here, right? The problem is if it leads to increased taxes. Make your case. Well, the same as raising the taxes on rooftops. You're trying to make affordable housing, but if the end result is that you've got to subsidize this and this and this and that and the other thing, you end up having to raise taxes again in order to make this work, which is going to make life unaffordable.

Which means that you're just going to have pockets of poor, very small pockets of poor, no middle class, no lower middle class, and then the rest of the population, homogenous and wealthy. And all the pockets of poor are just going to be subsidized to areas because there's no other way to make it work. They're legitimately,

they're legitimately creating their historical slums. They're socially and financially engineering their own pockets of slums. through malpractice of governance because they can't see down the road. Yeah. How about this? Back of the napkin, we're talking on the PHA project.

4.6 million total. 4.6 million. Deep throat. Let's say PHA is putting 20% down. 3.5 loan means 4.3.3.3.5 loan means 4.3.3. million price, which means a negative return for Woodard slightly. If they had just put the money in the S&P, you're talking a 75% return. And I want to remind all the viewers and listeners this, okay?

I want to remind all the viewers and listeners this. Hold on. Cavalier Crossing Bonaventure, Charlottesville. The taint on fifth. The taint on fifth. What was the taint on fifth? What do they get the taint on fifth for? All right.

I Love Seville has this. I love Seville. I'm literally using the content that I like, I research on my notes for the show, but then I'll like type it up and put it on I Love Seville. And oftentimes on the show, I'm literally referencing like I Love Seville, my notes that I've published online on conversations that come up on the show. Was it 20 million? Charlestville City in Almore County.

could have purchased Cavalier Crossing, now known as the Taint on Fifth, for $20,500,000 in joint venture capacity, $20,500,000. And that was $144 apartments. I want you to think about this. But how much would they have had to pay to redo the place? what do you mean?

People were already living in them and paying for them. They were sold out. They were fully booked. So you're saying unlike the taint, they would just leave it the way it was? I wouldn't have even upfit it. Okay. People were paying $500 or $600 a month for it.

For Cavalier Crossing. When they rebranded it to a taint on fifth, they had to put some pickleball courts and some cold tubs. But, I mean, dudes, like, you could have gotten 144 units times three bedrooms a unit, 432 beds for 20 million bucks. Instead, you're going to spend 40 million, we think, for half the apartments.

And they're not going to come online for years. No one's having conversations like this. and that's why the water cooler content and conversation is popular. Anything you want to add to that? I think the 144 apartments, 520 beds, 1455 acres at Cavalier Crossing for $20,000, $20,500,000, a deal that closed two years ago. And Bonaventure's pump at a million dollars and upfit. I think the comparison of Cavalier Crossing and, um,

And 501 Cherry is better than the comparison between Cavalier Crossing and 2000 Holiday Drive. Yeah, and Anthony, Anthony, Woodard, I am not throwing shade on you. I don't want this to be misconstrued in any capacity as shade on you. I genuinely think you are trying to do a really, really, really good thing here, Anthony. You are a good person and you have a good heart. You have a good heart, dude. You're a nice person. You have a good heart.

You're a nice person. You are trying to do a good thing here. But it got out of control. And this is why for-profit developers would just rather to kick money into an affordable housing account. Oh, yeah. Or just say I'll build 10 or 15% of my units and allocate them to housing affordability.

And I don't want any Tom, Dick, or Harry, or any Karen, Karen, or any Michael, Jen, Natalie, or Juan, or Sunshine or Sally at my development table. Okay? This is a lesson for every developer in Charlottesville and Elmore County. And a city council initially tried to do this as a proof of performance like this model that can be pursued with the private developer, partnering with the nonprofit developer and the neighborhood association. It turned, it went from wet dream to bad dream. And it went from bad dream to nightmare.

And it went from nightmare to financially reckless so quickly. And that's, what's the saying? All good deeds? No good deed goes unpunished. No good deed goes unpunished. That's the lesson to be learned here. That's the lesson. Definition of the lesson.

All right. There's a lot of topics we didn't get to here. It's 150 p.m. And I need to go make some money. Judah Wickauer, Jerry Miller. There's a lot of topics we'll cover on tomorrow's show. I got four or five developers watching this program right now. A lot of elected officials watching this program.

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