Lake Worth Park of Commerce

Back in August 2009, the City was awarded a $250,000 Grant from the U.S. Department of Commerce in order to develop a Needs Analysis. This was a matching grant. The needs study team made suggestions for improvements to the Boutwell Road area-- installing traffic signals, burying power lines, widening and connecting roads, building a telecommunications grid and putting in landscaping, street lighting and drainage work.

"The vision of the City of Lake Worth is to develop the Park of Commerce (POC) into the best area for business in southeast Florida. The City’s desire is for the POC to become a vital center for light industry and a major employment center."

The POC will be done in three phases and does not include land costs:

Besides the recommendation of the formation of a special district, the installation of 4 miles of fiber optic grid in order to improve Internet speed is immediately recommended...$236,000. The ones who benefit (present owners on Boutwell), pay the cost. Of course, the Park is not estimated to be even completed for at least 15 years, if they started today.

Phase 1:

• Intersection Improvements

• Street lighting (standard lighting) (Commissioner McVoy recommends solar)

• Telecommunications duct bank

• Electric – relocate under ground

• Multi-use pathways

• Gateway identification

• Beautification – street trees

• Under Palm Beach County jurisdiction

Estimates based on today’s costs.

Phase 1 is estimated to take 1 to 3 years at a cost of $5,546,000

Phase 2: is estimated to take 4 to 7 years at a cost of $1,843,000.

Phase 3: is estimated to take 8 to 15 years at a cost of $3,271,000.

Total cost: $10,666,000 plus 25% contingency or $13 million.

The City Staff is recommending that we go ahead with Phase 1 and Staff will be identifying ways to pay for this...looking into Grants. There is money out there but there is NO guarantee that we will get any of these available funds. We can take out a loan at low interest. Tax exempt bonds are a possibility. They want to go forward with no guarantees of funding. Developing an identity for this Park is very important as well as a marketing plan. Commissioner Mulvehill suggested that a web site also be developed.

By the time this Park gets developed, a lot of us will no longer be alive and the present estimated cost will seem as ludicrous as the federal government’s assertion that we have no inflation.