Our large municipal neighbor to the north is also talking about funding a big public works/infrastructure bond. An existing bond about to expire may be extended, but it seems that the city has many needs. There are some serious equipment issues that come in the form of capital costs that they have to consider too. West Palm Beach, even with all the new development planned or in the works, is still recovering from the Great Recession. Click title for link.
With the recession and the collapse of the real estate boom, city revenue dropped 13 percent between 2006 and 2013.We haven't heard much more about the Lake Worth 2020 or 2030 plan. Perhaps with the prospect of an election behind us, we will hear more about it soon.
The city said expected new developments and sales of property would eventually account for an added $1.3 billion in property value and generate as much as $10 million in new taxes. But the city has said that it probably will be a decade before the city returns to the property values and revenue generated in 2007.
“We are beginning to pull out a bit,” Muoio said Wednesday in her weekly press briefing, “but we’re projecting a tight budget year. We haven’t had money for capital improvements.”
![Dr. W. H. Cotton’s ode: “Oh, My Lake Worth, Florida!” [circa 1920].](http://1.bp.blogspot.com/-yhHyCn84ZIQ/WezjlEL-0tI/AAAAAAAAPZ4/CzkhriK6zpEJJ3d9Je1495d49gIhnMlxACK4BGAYYCw/s1600/LakeWorthPioneers.JPG)
