Financing Workshops Lake Worth

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Financing Our Infrastructure
The Road Ahead
An Open Discussion on How to Pay for Lake Worth’s Infrastructure Needs
January 27 | 6pm
Compass Community Center
201 North Dixie Highway | Lake Worth

March 21 | 1pm
Lake Worth City Hall Commission Chamber
7 North Dixie Highway | Lake Worth

Bring YOUR ideas and questions about financing options available in order to improve our roads, water & sewer services, drainage systems, and sidewalks.

Or you may send your ideas & questions to LW2020@lakeworth.org

Need more information?
Lake Worth City Clerk’s Office | 561.586.1662 | Monday – Friday | 8am – 5pm

City sends out first communication on Financing Workshop

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Just now in--

The following people received this message:

Sent: Monday, January 12, 2015 8:29 AM
To: Art Wittman, Chris Diserio, Dean Sherwin, Jim Kelly, John,John Hanscom, Jonathan Nicholas, Jorge Goyanes, Julia Renninger, Katie McGiveron, Leslie Campbell, Lisa Amara, Luis Tamayo, Lynn Anderson, Marty Welfeld, Mary Lindsey, Michael Ansay, Michael Arevalo, Nadine Burns, Richard Stowe, Robert Higley, Roger Kowalsky, Sam Goodstein, Sue Stevens, Susan Mason, Suzie Joseph, Tom Copeland, unknown, unknown' 'unknown,'unknown, Wendy Williams, Wes Blackman
Cc: Andy Amoroso; Christopher McVoy; John Szerdi; Pam Triolo; Scott Maxwell

The City will be holding open discussion meetings on how to finance its infrastructure needs on Jan 27^th at the Compass Center (the attachment has more information).  Because you personally took the time to email the City with your questions and concerns about the Lake Worth 2020 Infrastructure Plan during last summer, the City wanted to make sure you were aware of and  invited to its upcoming open discussions.

We hope you take the time to attend these meetings and offer your ideas and input on how to pay for the Infrastructure Plan.

Ok, so how many people is that?

The Surprise, or was it?

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It's deja vu in Lake Worth. It always is. We have a commission that refuses to listen. It really should be no surprise by now that this commission wants its way. It can lose elections but still, just like a pit bull, they continue on with their own agenda. Last night was no exception.

Resident Peter Timm spoke in public commentary about the general obligation bond and suggested that the commission was going to bring the whole nightmare back for the people to decide again. The last time he spoke on this subject, a PBSO deputy was standing behind him. The commission didn't want to hear what he had to say then. Actually, they don't want to hear anything anyone has to say unless it's in agreement with their views.

Where Mr. Timm and I differ is that he is not exactly against the amount of money or the debt that this commission wants to straddle on all the property owners but the "fairness" of it all--some will pay nothing and those with expensive properties will pay through their nose. He still believes that everyone should pay the same amount on an assessment on their ad valorem. Glen Torcivia, city attorney, explained it again why that can't happen but said to the commission, "I will look into it again to see if there is any way." He got the consent to spend more billable hours by silence from the commission. They MUST have all this cash. I just believe in living within our means. Find government grants. Find another way of getting the money instead of taxing a poor city's poor population.

On January 27, there will be a workshop at Compass where the public is invited in order to give their suggestions as to how we can pay for all these improvements that this commission says is absolutely necessary...find a way to tax ourselves and be happy.

John Szerdi wants the residents to come up with some creative financing. Can you even imagine that? The average household makes $35,000 a year (that's after throwing in all the one-percenters into the mix) and struggles saving pennies in a jar. Christopher McVoy was taken by surprise on this financing workshop...was not told about it, a normal occurrence. He suggested that the city's message on the bond or its short-coming, if you will, was the message itself. Mayor Triolo wants suggestions from us on how to tax ourselves for God knows how many years so they can turn it all around and say, "This is what the public suggested." After the election, she blamed the people for defeating the bond--it brought their money grab to a screeching halt. She can't understand why there is a "trust" issue with elected politicians especially on a local level. Well, just consider their actions. And does anyone remember Tony Masilotti, Jim Exline and Mary McCarty?

Corruption starts at the local level because this is where a vast percentage of politicians begin their careers. Not only does it involve politicians, but staff has been known to get into the corruption act. We here in Palm Beach County now have an Inspector General which is funded by the taxpayers. The voters said it was a vital position to ensure the integrity of our system. The sense of power that drives politicians galls us all even in the prosperous times but now this commission wants to bring it all back again by taxing the people for roads that won't last as long as the tab for it all.

It just never ends and it's never a surprise when it happens. If there is any surprise at all it is that they are allowed to stay in office.

All Aboard Florida to pursue private financing

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All Aboard Florida to seek private financing. 

With a proposed 32 trains per day from Miami to Orlando, All Aboard Florida has applied for a $1.6 billion loan with the Federal Railroad Administration. It “has decided to pursue” the alternative route of a private activity bond allocation to pay for West Palm Beach to Orlando leg of the track.

Click here... to read the rest of the Post article.

Tonight's consent

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This commission has a mission and a vision; it wants development and it wants revenue from it. It doesn't matter if citizens want a low-rise downtown--they want development and they want it any way they can get it. They keep telling everyone who will listen that Lake Worth hasn't developed anything in years but they fail to tell you that we are built up--there are only a few parcels left for development without tearing something else down.

Remember Scott Maxwell ran on a couple of platforms--one was eradicating slum and blight and the other was developing the Park of Commerce.  Slum and blight is now worse throughout our city and the Park of Commerce is an exorbitantly expensive fantasy that will be using someone's else's money--yours. This commission is all for making the "industrial' park a reality. It will be their legacy. Their children will be able to look back and claim that it was Mommy and Daddy who got Lake Worth in a forward motion.

The Park of Commerce is far enough west that developers actually might be attracted to our city...any area closer to town would be another story... would any developer want to build in a city consumed by slum, blight and crime?

But we haven't solved the code enforcement issues that plague our city. We keep talking about them but nothing changes. No one on the dais has done anything about it. They keep saying to themselves, "Thank God I don't live around that neighborhood....poor schumcks."  Let's put in an obnoxious speed bump to keep "them" happy and allow them to have a semi-private road and allow a gigantic garage to be built in a residential neighborhood.

What the Commissioners ARE doing, however, is planning on obligating us to tremendous debt in order to finance roads and the Park of Commerce to attract development with the 216 affordable rentals being the first step. It's all okay, they say--it's in that other part of town and besides the fantasy Park of Commerce is now on its way. They choose to forget that this area was for commercial development. This is all just another decision that goes on their resume for re-election. "We are the ones who finally got something done," they will tell us.

As this commission has always ridiculed the hiring of consultants or paying for studies, etc., tonight on the Consent Agenda, the city will be contracting with Public Financial Management of Orlando to advise us on our financial needs pertaining to debt structuring for the roads and utility master plan of an estimated $63 million, the Park of Commerce program that was already stated at a commission meeting of being approximately $11  million for infrastructure and also to refinance existing debt which is humongous. They will advise whether to go out on a General Obligation Bond or a bank loan to finance all of these multi-millions.  I am all for a financial adviser when you're talking about big bucks; that is smart business.We better be well advised before we obligate our taxpayers.  Folks, we only get around $28 million in revenue to operate our city every year and public safety takes $20 million of that. How safe do you feel for $20 million?

Apparently the City doesn't even have to go out for bid...the city manager can just pick a company and they cite Section 2-112(c)(6) of the City's code (can't find it) that gives them the authority. Also, they don't want the public to speak to this as they put it on the Consent Agenda--a contract of huge importance that taxpayers will fund but have absolutely no say.  This is a five year contract involving some of the following costs:

Hourly rates:
Managing Director=$195 an hour
Sr. Managing consultant=$185
Sr analyst/analyst=$175

Fee Proposal per value range of bonds:
Up to $50,000=$0.85 per thousand
Next $25,000=$0.65 per 1,000
Next $25,000=$0.55 "
Additional amts over $100,000=$0.45 per 1,000

All expenses are reimbursed:  travel, meals, lodging, telephone, mail, printing, graphics, you name it. There is a flat fee retainer of $15,000 per year and any additional services will require a separate agreement. The city, as well a Public Financial Management, will have a project manager unlike some of our past mistakes when NO ONE was in charge. Well, we did have Corey O'Gorman at the pool and Laurah Hanna as assistant city manager.

On the Agenda tonight

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On the Agenda:

• Terminate the leasing agreement with Anderson & Carr for services at the Casino Building - SUMMARY: This agreement permits the termination, without cause, upon five days notice. The City wishes to exercise its right to terminate. (I wish that we had a city commission that terminated our outside counsel, Brian Joslyn, after the first year instead of dragging the Greater Bay case out for 3 years to end up recommending settlement for $1.6 million)

• Settlement agreement in the case of Reyes, Jordan & Drenski v. City of Lake Worth -SUMMARY: This agreement resolves the lawsuit by three former Utilities Department employees.BACKGROUND AND JUSTIFICATION: After two mediations, the plaintiffs have agreed to a proposed settlement of all claims. Funding for the agreement to come from the Electric Utility Fund. (These guys need their jobs back)

• Discuss creating an ordinance to insure electric rate parity with the surrounding market within a five-year period- SUMMARY: This item is to discuss the creation of an ordinance that would formally create a five-year goal mandate to reduce the City’s electric rates to match the surrounding market rates as provided by FP&L. BACKGROUND AND JUSTIFICATION: During the January 29, 2013, Selection Committee meeting, a request was made to create an ordinance setting a five-year goal to reduce the City’s electric rate to market rate. The ordinance would require a supermajority vote of the Commission to make any changes to the plan. The ordinance would also set the framework for the implementation of a five-year business plan for the Electric Utility to implement the necessary changes and set annual revenue limitations as the rates step down. (Not sure how you can compare our local utility with a huge conglomerate such as FPL. Not one company in the State can compare to FPL's rates which, incidentally, they did not offer to us when we were looking for an energy provider). This Ordinance, although sounding good, is probably politics over practicality.

Government eyeing your 401(k)

Is nationalizing retirement on Obama's agenda?

Recent evidence suggests government officials continue to eye the multi-trillion dollar private retirement savings market, including IRAs and 401(k) plans, eyeing the opportunity to redistribute private retirement savings to less affluent Americans and to force the retirement savings out of the private market and into government-controlled programs investing in government-issued debt.

Read more... on how Obama wants your 401(k) too!