Mayoral hopeful Joe McNamara, a Democratic Toledo councilman, released personal financial documents today showing a high credit score and seven years of on-time bill-paying.
Mr. McNamara, a lawyer who collects a $27,500 annual council salary, did not release his 2012 tax returns since he filed an extension. The federal extension application form shows $2,123 as his estimate for total 2012 tax liability. He promised to release his 2011 tax forms later today.
Meanwhile, Lucas County Auditor Anita Lopez refused for a third day to release her credit score, credit report, and federal tax returns. She is now the only major candidate in the Toledo mayor's race to ignore requests for the documents to be made public.
Councilman and mayoral candidate D. Michael Collins and Mayor Mike Bell released their personal financial documents Monday – showing healthy incomes and high credit scores. Mr. Collins, the political independent challenger for mayor, has a credit report that shows no outstanding credit-card debt and an excellent credit score. Mayor Bell, also a political independent, responded within hours on the same day to a request from The Blade for the same information, which also showed a high credit rating, no past-due credit-card amounts, and no late payments.
Mr. McNamara said his personal finances are in order.
“I have a great payment history and I have recently paid down three-quarters of my outstanding debt,” he said. “I think my record on council says more on how I would govern. I helped pass two budgets early and unanimously and I also pushed for the balanced budget amendment to the city charter.”
Mr. McNamara's credit report showed a balance of $9,756 on a CitiCards CBNA credit card. The card had a high balance of $13,639. He also has a Brooks Brothers charge card with a $587 balance and a Home Depot charge card with a $386. The credit report also shows a Key Bank individual line of credit with a $8,752 balance.
That outstanding debt of nearly $20,000 recorded on the credit report is now about $5,000, Mr. McNamara said.
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