Hudson Holdings backs out of ITN process in Lake Worth vis-à-vis the Casino/pool complex

[Below is the text of the letter from Steven Michael of Hudson Holdings to Lake Worth City Manager Michael Bornstein. The text from the pdf was somewhat difficult to read; here is the complete text from the letter:]

September 15, 2015

Mr. Michael Bornstein
City Manager
City of Lake Worth
7 North Dixie Highway
Lake Worth, FL 33460

Dear Mr. Bornstein,

Please consider this notice of our intent to withdraw from the Invitation to Negotiate (ITN) as it relates to the Lake Worth Beach Casino Complex.

We remain committed to the City’s progress through our significant commercial and residential holdings in Lake Worth, as well as our continuing support of community initiatives. Unfortunately, the current ITN process has been derailed by a lack of clear direction and structure. Additionally in our estimation the misinformation that has been propagated in recent months – specifically as it relates to the reality of the precarious financial stability of the beach complex, and ongoing questions about funding of the previous complex renovation which has raised the cost of water to every resident of Lake Worth. Further exacerbating the problem is the number of times the “goalposts have been moved” by staff regarding the size and scope of the project making it impossible for the ITN to be completed in a fair and responsible way.

The positive results from our recent open community meeting on August 24th attended by over 250 residents, as well as our ongoing neighborhood and small business outreach program have made it clear that stabilizing the current budget shortfall of the beach casino complex and responsible, reasonable and sustainable upgrades to the facility though a partnership with the private sector is desired by a large component of the public. We are hopeful the financial needs of the city, as well as the now well-documented desire of the residents to have an improved pool and casino property, can be addressed in a more structured, responsive way, and in a more timely manner.

Sincerely,
[signed]

Steven Michael
Hudson Holdings

[This is the public meeting referenced in the letter:]