Friday, July 11, 2008

Letter from Ed Grimm, President of the Lake Worth CDC re CRA Grant Application and 2007 Financial Statements (un-Audited)

I thought this would be of interest.  This document was in the CRA packet distributed to board members for the June 24th meeting.  Only the agenda was available on line for that particular meeting and not the accompanying back-up material.  That situation has been fixed and all information distributed to CRA board members for meetings will be the same information available on the City's, and the link from the CRA's, website.

What this amounts to is a letter from Ed Grimm, President of the Lake Worth CDC.  This is the same Ed Grimm that is now a member of the CRA board.  In the letter, he reacts to the decision of the CRA to deny the request for a grant or forgivable loan for $300,000.  He also goes into some detail responding to the charges made by the former CRA chairperson Matt Thompkins offered during public comment when the grant or forgivable loan request was being considered by the board.  There is also reference to the prospect of a similar funding request to be made in the future.

Following the letter is a set of financial statements.  This document is important as it is not available on the Lake Worth CDC website.  It also accounts for the number of CDC owned properties, along with associated revenues and expenses.  These are un-audited financial statements, but still interesting information.