By my estimates, this city commission has already wasted over $30,000,000 in little more than three years. More details in a followup post. Now, they have just voted 3-2 to waste an additional $6,326,000 as a firm offer to purchase the Bank of Ozarks property abutting Pointless Park. The offer is good for 21 days from September 13. Commission members DeCiccio, Weaver, and Sullivan voted in favor, Anderson and Cruzada voted no. Click here to email the commission and tell them to STOP. Tell them to hold a special meeting to immediately rescind this offer. Please also file to run…
Tag: finance
Why was Winter Park’s debt downgraded?
One (not all) of the agencies rating Winter Park municipal bonds recently downgraded our debt. Why? Why? Because Mayor David Strong and his friends insisted that the developers of the former post office redevelopment project be “made whole” (David Strong’s words) at the expense of Winter Park taxpayers. When David Strong and his friends achieved their goal of denying final approval for the post office redevelopment in 2007 he exposed the city to $25,000,000 in liability (according to the litigation attorney hired by the city to defend the city in a law suit brought by the investors). The city was…