By Justine Griffin for the Tampa Bay Times
Today, Herb Colvin runs a coffee stand inside a Hillsborough County Public Schools building, sells organic teas and coffees at farmers markets and other locales, and has a record of financial problems, including federal and state tax liens, evictions, a foreclosure and a bankruptcy.
By 2017, Colvin will have a $1.3 million stake in the restaurant operations of the $953 million renovation of Tampa International Airport. His Bay Coffee & Tea Company is the minority partner in one of the 11 concessionaire groups that won highly sought-after spots to sell food and goods at the airport.
A Dun & Bradstreet credit evaluation of Bay Coffee puts it in a ”higher risk” category for making late payments and suggests a credit limit of $20,000. The report was provided to the Tampa Bay Times by an airport consultant who works with another Tampa concessionaire, George Tinsley Sr. Tinsley lost a bid for a spot in TIA’s concessions lineup and has filed a protest regarding the win by Colvin and his partner.
Colvin and his partner scored a 91.3 out of 100 for their proposal, the highest bid in their group by 6.4 points based on the overall concept, layout, experience, business plan and the potential to generate revenue for the airport. But an airport spokeswoman acknowledged that officials there did not conduct any analysis of Colvin’s finances.
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