Questions and Answers on Grabbing the Cash in Lake Worth

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Now we learn that the general obligation bond will also be a SLUSH FUND for district commissioners and the neighborhood associations will have a big say in how the money is spent (you know, the NA's that are NOT political)---$800,000 each to be exact, to do what they want for certain improvements whether you as a resident want them or not. This is pay-back time to the NAPC.  No wonder they refused to hold a debate on this issue--$3,200,000 is a lot of do re mi.

Questions to Lake Worth 2020: Saturday, August 09, 2014 1:09 PM and the City's answers

To: LW 2020
Subject: Lake Worth 2020 Questions and Answers

QUESTION:
1. Where can I find a map or chart that shows where features such as street lights, trees, and traffic calming devices will be installed?
ANSWER:
Thank you for your interest in learning more about Lake Worth 2020. I have forwarded the questions. I am not able to answer to the appropriate department for a response.  In answer to some of your questions:.

Question 1 – there is no map; however each district will have $800,000 to use for specific issues such as street lighting and traffic calming devices which is under the category neighborhood enhancements.  How and where they will be installed has not yet been determined; however, the Commissioner from each district as well as the neighborhood associations will be heavily involved in the identifying process.

QUESTION
2.  Where can I find information about the costs for each item in the plan?
ANSWER:
Question 2 – has been referred to the appropriate department

QUESTION:
3.  Is there a way to refuse certain items, for instance, if a traffic calming device is planned for in front on a resident's house (causing noise), can that resident refuse?
ANSWER:
Question 3 – the ballot language is asking for approval of $63.5 million under a plan called Lake Worth 2020.  It does not allow for certain items within 2020 to be voted on separately; however, like my response in Question 2, each district will decide whether or not they want these neighborhood enhancements and where they will be located.

QUESTION:
4.  What are the interest rate projections for the bonds?
ANSWER:
Question 4 – The City’s Financial Advisor estimated the rate to be 5.5%.  This conservative rate was used for the following reasons: a. Three bonds will be issued over a 5-year period.  Estimating what rates will be in 2015, 2017, or 2019 is difficult and consequently, a conservative rate is prudent.  b. The rate is an estimate for use in discussing the program. The final rate for each issue will be determined by market at the time of issuance.  c. Each issue will be sold for the most advantageous rates that can be obtained at the time of issuance d. The ballot question asks for approval of a total amount of debt service.  Each issue will be determined by the marketplace rate at the time of issuance

QUESTION:
5.  I see lots of vacant storefronts on Dixie highway; how will the plan help improve this major artery?
ANSWER:
Question 5 - has been referred to the appropriate department