Lake Worth CRA

Comment Up

Immediate Notice to Terminate—that’s what will be given to Hands On Consulting, now hands off. Due to lack of performance over this past year, the CRA voted unanimously to end the agreement with consultants that we hoped would give us the start for the Cultural Renaissance dream. I am still unsure whether our own City did not have something to do with the fact that Hands On just could not come up with any properties that made it impossible for them to perform. The CRA has limited funds. It just didn’t work out. We are not Paducah.

Even with the CRA director implying that the deal could stress the budget, the CRA voted to approve the motion on the Lease (eventual purchase) at 1000 Lake Avenue. Commissioner Rockstein said she didn’t have enough facts on the costs. Ed Grimm said that it could possibly cost the CRA $1 mil in repairs to get the building in shape for lease. Without estimates in front of them, they voted “no.” This property was brought back from the January 26^st meeting. Why then were not these details and estimates provided?

We will be buying this property for much less than its appraised value with owner financing and then spend a possible $600,000 for interior and exterior restoration and rehabilitation. Instead of handing over cash to some entity, we are spending it on an asset that will be owned by the CRA and only become more valuable--one in which WE can make money instead of someone else. Unless the country goes into a major depression and recovery will be long and hard, this is one major CRA decision that makes dollars and cents in the long-term.

This is, without a doubt, the best and most responsible CRA Board we have had in years. Frankly, I am impressed with every single member. (Ok, I'm pushing it here) Although still touting how wonderful 6^th Avenue South and 10^th Avenue North look, they are fiscally responsible in how they approach each action agenda item.

Now if we could only get that $500,000 cash back from Publix.