Although this article of Alexandra Clough's of the Palm Beach Post came out three days ago on line but printed in today's print edition, I only have one comment--
"Finding the right proposal for the complex is important. The landmark casino complex, the city’s crown jewel, is having trouble paying back $6 million borrowed for the 2013 restoration. Last year, the city began soliciting ideas to fill vacant upstairs space, fix or change the dilapidated pool building and generate more revenue."Every article ever written that mentions this "loan" NEVER tells the reader that the $6 million was borrowed from ourselves...OUR money...OUR beach... and that this commission elected not to pay the yearly principal payment of $500,000 back to itself other than one $250,000 payment, a suggestion from the finance director. We have been paying the interest.
By failure to include this important fact, implies that we are defaulting on a loan due to another entity (we are deadbeats and in serious trouble) when in fact it is owed to ourselves. I would imagine that Ms. Clough wrote the story with the information provided to her by the city.
8 comments:
Every Finance Director,salaried employee of 37000 Lake Worth Tax payers, ,who decided at his own brazen authority to reduce our repayment by 50% to extend those indefinitely must be fired, and replaced by a loyal to lake Worth paymasters one and the majority Commission members who approved this illegal subversive to lake Worth action must be replaced.Their incompetence to move the City economically forward, with obvious assets, is additional ground for removal,replaced by a business and legally savvy ,moral with thorough knowledge of our City Depts and solutions for issues.
It was the commission that voted to do this...not the finance director. When you have a budget with 65% of our operating budget going out the door for public safety, you have to cut somewhere. Delaying payment to ourselves makes sense.
The Palm Beach Post reporter,prints,
intentionally ignoring the ownership of our Palm Beach Island Oceanfront 20 Acres land,of
37,000 Lake Worth Citizens, not HER OUT OF TOWN future paymasters???Hudson Holdings.
Hudson Holdings owns business in Michigan, Lake Worth Ocean front Beach land is not in Michigan.
Those Commission members who voted for this anti-Lake Worth 37,000 Citizens economics,must be replaced, then fined for malfeasance?
Lake Worth,speak up!
We are under siege by the same people who have been behind every development aspiration in this city. It goes way back. You still have Rice, Sharp, Blackman and their followers who believe that anyone who wants to keep control of our beach casino in the hands to the city are the ones holding back progress and anarchists. These are really stupid people. You can't get much more stupid than they are. Also, it's about greed. I would love to know who will benefit from some developer who has control of our beach. What money will be passing hands? Whose hands?
rice and blackman are in cahoots with the developers anyway,they are elitist and very bad for Lake Worth. They only care about money and giving our city away to these developers. Everyone sees behind these two greedy horrible awful people.
Follow the money and you will see their only real shared interests.
If Lake Worth ahd a real City Manager who knows how to manage our more than billion dollars of assets,the City,a resort with a Palm Beachisland Oceanfrint Beach would be an affluent City.
Why is the Lantana ex ,now in Lake Worth, without background and history of performance report,proven totally incapable of manageing lake Worth, but has hand out for $10,000 more taxpayers' money?
What was managed or not managed in Lantana?Lake Worth Commissions are notorious for accepting unread, verified arrangements,accepting the offal fron anywhere.Greaterbay had 92 Judgements,discovered by Mr,Coakley, ignored by City Attorney Greater bay subsequently sued and got $2,000,000 for crippling our Olympic size swimming pool,with bubble wrap cover,doing nothing for our Casino reconstruction.!Present City manager, non-performer, has not even replaced the diving board, restored the dressing areas and shabby public conveniences. Has done nothing but hand out for our tax money!City now has another disloyal to Lake Worth legal Office.
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