Interlocal Agreement with Palm Beach County on the Bond Money

There was much discussion on our pool last night. I left the meeting and am watching the meeting now on YouTube. Finally it got to public comments. Leonard Bryant asked the question if our obligation to the County was forever regarding the $5 million we received from the Recreation Bond as one of the designs showed taking away 16 spaces.

The stipulation from the County is that we have to maintain 613 public spaces. Bryant motioned to the dais and I assume it was the City Manager because it is not shown in the video who said, "yes," it is forever. Incidentally, it was commissioner Cara Jennings who negotiated the retainage of our resident decal parking spaces back then.

Here are the facts:

On November 5, 2002, a bond referendum was passed by the voters of Palm Beach County in the amount of $50 million. On October 17, 2006, the Parks and Recreation Department Palm Beach County approved an Interlocal Agreement with Lake Worth for $5 mil from the Recreational and Cultural Bond. That agreement fell through because the County insisted that Lake Worth match it with $3,620,800. A new agreement was drawn and the new agreement included no matching money. This new agreement was signed in 2010.

The Interlocal Agreement runs until February 1, 2040. After that, we can do what we want with our parking. And it's Bond money, not a grant. Taxpayers in Palm Beach County paid on this bond for ten years.