Palindrome is NOT acting in good faith

In the July 12 Journal Opinion “Palindrome has acted in good faith on Village Center Project”, Chad Rennaker, Palindrome CEO, advances egregious untruths that need correction.

He starts by falsely claiming that Friends of Los Ranchos (FOLR) claims that he hasn’t met with us. That is untrue, we’ve never claimed that he wouldn’t or hasn’t met with us. He just never made a significant concession to residents’ interests.

His claim that FOLR walked out of the mediation is false. He was the only one that didn't show up in person, calling in via Zoom. He suggested that Friends raise $10 million to make modifications to his development. Talks quickly broke down. FOLR spent hours waiting, working towards a better result, departing only when lawyers for both sides agreed no progress was possible.

Rennaker claims that tearing down the illegal buildings would cost the village tens of millions. But in court he testified that it would cost his own company those monies, potentially putting him out of business. He knows that the Village will never be liable for the cost of curing the blight that he’s trying to impose on us. His development is illegal, product of a corrupt process that conspired to circumvent residents’ wishes.

He also claims that his development fulfills two decades of planning; again, false. The Village planned low-profile buildings housing community assets and senior-specific housing. Not the monstrosity.

Rennaker also claims, in an ongoing refrain, that residents and newly elected officials “do not want affordable housing in their community.” This is patently untrue. In fact, FOLR and most Village residents do not oppose affordable housing. We support assistance to people who are struggling to make ends meet. We have multiple apartments and trailer parks in our Village which are affordable housing that makes sense. They are low impact on the environment compared to developments like Rennaker’s. They don’t burden the local community with a sudden population increase. Indeed, a mobile home park was destroyed, residents evicted, as part of the machinations that brought us this monstrosity.

The problem with mobile homes and small-scale affordable apartments is that they don’t make anyone rich.

Rennaker claims that he is willing to make compromises, but in the two recent meetings with Villagers, he offered 10 “compromises” – meaningless overtures – that included things like choice of a paint color from three options, a banner of our choice hung on one of the buildings, and actually following the law for the final phases of the development.

On top of all this, Rennaker’s property management company, PacifiCap, has been called out by tenants at multiple sites for shoddy construction and unresponsive management. He’d saddle the Village with a deteriorating eyesore filled with unhappy tenants. We’d greatly prefer affordable housing that integrates people into the community instead of crowding, isolating and subjecting them to his mismanagement.

Rennaker’s not being honest with us. We cannot trust his words. But FOLR has been, and will continue to be, an honest representative of Village residents. Those residents who say they don’t want the illegal structure torn down are mostly saying so because they fear the financial ruin of the Village. But the Village is protected by an indemnification clause in the contract with Palindrome, the NM Risk Management Department, and the court’s judgment in our favor. Friends will not be the cause of the ruin of our Village. We hate wasting that construction expense. But if we can get that monstrosity torn down — as the law provides — then we will do so.

Marsha Adams, President, FOLR

Nancy Nangeroni, Secretary, FOLR