Letters to the EditorPalm Beach Post
August 23, 2014
Lake Worth can’t recoup investment
Lake Worth 2020 lists a cost of $9.6 million to be underwritten by city taxpayers to construct infrastructure for the Park of Commerce as part of the $63.5 million bond on Tuesday’s primary ballot.
In addition, a road-widening and installation of a median with mature Royal palms is planned for the length of Boutwell Road from Lake Worth Road to 10th Avenue North. This will add several million to the cost of the Park of Commerce plan.
The east side of Boutwell is predominantly a trailer park, and the west is privately owned, mostly empty land.
Even if this commission’s “field of dreams” were to be fully developed and built to the extent of Lake Worth’s Land Development Regulations, it would take well over a hundred years for Lake Worth taxpayers to recoup this $10 million-plus investment.
LAURENCE MCNAMARA
LAKE WORTH
2 comments:
Lynn, I have asked this question before, and I will ask again. How do You or Larry have any idea how long it will take the city to recoup cost for the money spent on the POC when as of right now there is nothing there? Was Dee been looking into her Crystal Ball?
To the person who commented here with sarcasm, let me ask the question to you--do you have a crystal ball that builders will come and businesses will open at the park of commerce? This is a big investment with NO guarantees. The city and Maxwell and the rest of this commission want the taxpayers to foot the bill of $9.6 million that originally was over $17 million. They will be spending much more money than the $9.6 according to the latest projected budget figures...a little over $11 million of money from taxpayers. Now, just do the math.
Next, there are 262 business operating there already. From what I have been told, the majority of the property is owned by 6 to 8 people who do pay taxes.
for any business to develop and relocate costs a small fortune. This city, in the past, has been known for giving tax and other incentives to lure businesses. How do we know that they won't do this again? Of course they will. It could be another sweetheart deal like The Lucerne...10 years of it.
Incidentally, and you know this, no one, not even his friends, refer to Laurence as Larry." Dee doesn't need a crystal ball. She assesses Lake Worth rather realistically, IMO.
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