Friday, January 30, 2015

Part Five of the Infrastructure Workshop from Tuesday night (1/27)

Discussion revolves around the differences between special assessments and general obligation bonds to finance infrastructure projects. It also touches on interest rates (low, one recent issue for the city was under 3%). City Manager Bornstein warns of a difficult budget season and the need to track that process as it evolves. Possible relief from the general fund to fund infrastructure projects is nil. There are other comments from residents. He also makes the point that the largest general fund money source is taxes from non-homesteaded residential properties (rental properties make up 57 percent of the units in Lake Worth). Distinctions between local and county/state roads are discussed along with grant possibilities.