Letters to the Editor
Palm Beach Post
September 25, 2016
Massive debt bad fix for Lake Worth
The city of Lake Worth plans to take a 30-year loan for $40 million to re-do roads. With a 3.92 percent interest rate over 30 years, that’s $68 million. There are 13,000 properties in the city. One-third of those 13,000 properties do not pay property taxes because they are assessed at less than $50,000 of value. So, $68 million divided by 8,666 equals $7,846 per property. That’s an average. Some homeowners will pay more and some will pay less, depending on their property’s assessed value. This tab is landing in the laps of residents with a median household income of $35,000.
Sadly, before this debt has been repaid, those roads are going to wear out.
REBECCA HINSON
LAKE WORTH
I agree and I will not vote for this!
ReplyDeleteI do not have faith either in our elected or government anymore, they lost my trust in them!
All we have is a bunch of rats running this city!
And the bunch of rats did not allow any public comment on the bond going on the ballot again because they were going to do it anyway, regardless of the opinions of the taxpayers who pay for their salaries and benefits.
ReplyDeleteVote AGAINST the 30 year BOND, aka citizen holdup.
...the money we pay in taxes should go for what we need 1st (ROADS) and not a field of dreams or grant money we have to use for un-necessary things - see the greenways...nice driveways to a handful and cement for the rest and little green the city is challenged to keep up on maintenance with! Now a 'domino park' and the county 1c tax is for rehabbing more than a few parks! WHAT ABOUT THE ROADS, ALL THE ROADS and NOTHING BUT THE ROADS! Doubt the bond will pass because the city refuses to give us all the info - they think we are too stupid to understand - vote no and show them you get it,
ReplyDeleteThe elected "leadership" across the board are all SCUMBAGS!! They blatantly could careless about what the public wants and openly bash their OWN Employees!!!
ReplyDeleteI still cannot comprehend on to what happened in my used to be beautiful town??? We let corruption take hold of the reins and now they run rampet.
The big question is how do we fix it?
So Lynn, why don't you ask McVoy and Maier how to pay for the roads? Or any of the other belly aching pathetic so called citizens that can not and will not understand that benefits of having and enjoying paved roads means you have to maintain them - and this city for decades has kicked the repair can down the road - and so, we now find ourselves with resources (roads) used up and needing to be replenished. All the citizens who have lived here for decades have enjoyed the benefits of having paved roads... Yet they are the same citizens who are opposed to setting the proper reserves aside to pay for this maintaince, and as each year passes, the bill gets higher.
ReplyDeletePass the bond, fix the roads... Or shut up about the pot holes.
@8:36--
ReplyDeleteI believe the city is asking the voters.
We already know that the roads need to be repaired--all the commissioners understand that.
Kicking the Can down the road comment--Great stuff. It was this present TRIO of commissioners who cut the budget for road repairs. I am all for proper reserves but more than that, PROPER MAINTENANCE. Maintenance is not in the vocabulary of city staff or the Trio for that matter because if it was, they never would have cut the road maintenance budget.
What we object to is the lack of detail on the cost and particular road repairs. Frankly, I won't even put credence in your bond calculator whenever it gets up on the city's web site.
Bornstein and his flunkey Commission are desperate to get their hands on $40 million, more money than any of them have ever seen, so they can play big shot and open themselves up for the bribes of corrupt contractors.
ReplyDeleteIt's our money they want to play pay to play with.
Vote AGAINST the $40 citizen robbery.
NO NEW TAXES!
How would we even know what kind of ideas that Mcvoy or Maier have? They are not allowed to talk by Triolo(The Italian Kitchen Witch ).
ReplyDeleteAt the last "workshop" on the bond Maxwell stopped the meeting . He was in too much pain to continue the meeting. Maybe he needs to step down as a Commissioner.