Thursday, February 6, 2014

Is it responsible to promote a redevelopment plan by crying "the (financial) sky is falling" in Palmetto Bay?

Is Palmetto Bay on schedule to deplete our reserves in 5 years?  Comments were made at the special council meeting held just prior to the regular scheduled February council meeting from 2 residents (the only speakers) who were concerned about the process and how money is being spent. The financial model still has yet to be properly presented. 

The answer appears to be that there is a slide show of renderings, which is a sort of dreamer's recitation of what could be, but no hard numbers.  Neither private investors or a bank would lend money based on renderings. They want to see a solid business plan with credible, objective numbers before they would invest money. Why should Palmetto Bay taxpayer dollars be spent based upon a much lower standard? After all, it is our money.

The following was taken from the official village web site (as of Feb 6, 2014):

BLOG #2 - Sept. 5, 2013
Downtown Outlined to Local Business Association...
When it comes to the future of Palmetto Bay, there is little doubt that the finances of the Village need to change. Several independent studies estimate that within five years, Palmetto Bay will have no reserves and will be forced to raise taxes and cut services. So, right now is the right time to face facts and plan for fiscally responsible change. No matter what side of the political fence you sit on, the adage "You’ve got to spend money to make money" rings true... And that, plus a grand plan, may just be the saving grace for Palmetto Bay. (Emphasis added)

View the actual website comments by CLICKING HERE.

It is one thing to take action on redevelopment because you think it is the right thing to do, but it is shameful to raise support based upon a threat that Palmetto Bay will fold financially if we all do not support this ever-evolving plan.


  1. Of course they have to scream that the sky is falling. How else can the mayor and Council woman Lindsey reconcile the fact that they need to ruin the southwest section of Palmetto Bay to raise revenue to continue to frivolous fight against Palmer. This is typical. Neither of those two are against over development. They are only against development where they live. Grant Miller hit the nail on the head

  2. The mayor wants the city to spend millions of $$$ to bring thousands of additional people to live and drive through Palmetto Bay day and evening hours (perhaps to shop at a certain consignment mall?), but yet the same mayor spends up to a million dollars to prevent mere hundreds of students from attending a quality private school? Can someone tell me what is wrong with the mayor?????????

  3. In November, 2013, Standard & Poor's raised the Village's bond rating to AA. Read the
    S&P report on The Village also has a large reserve that's growing. The first Advisory Committee on Franjo Triangle (2003-2004) was made up of 14 appointees that were selected by the Palmetto Bay Village Council. Flinn was on this Council. The existence of the first Advisory Committee was not common knowledge. The existence of the current Advisory Committee isn't common knowledge. People who had advanced knowledge of the redevelopment proposals had lots of time to buy land or options to buy land before the proposal was common knowledge.

    1. The bond rating is proof of the sound financial footing that the first council set up. So how can this current Mayor and council spend this village into its reserves so quickly? Finally, doesn't your point contradict the official reason for the redevelopment?

  4. Stop corporate welfare. This is a prime example of village leaders taxing and spending for the benefit of insiders who cannot afford to otherwise improve their own property.