TDC Runs A deficit - To Many Blue Signs ?

[wrobert]

Now I feel confused. I understand that the deficits include emergency repairs from hurricane recoveries. Is that all which the deficits include? (setting aside the loan used to pay for the Beach Restoration projects)

I thought all of those bills were filed with FEMA for reimbursement after the recovery.

 

[JustaLocal]

In BeachSi02's post above, he states that the borrowing does include money for walkover repair/replacement from Hurr. Dennis.

Personally, I am against Beach Restoration, just as I am against seawalls. The enormous amount of cost isn't as big a concern as the restoration being only a temporary solution to an ongoing perceived "problem" of the constant movement of sand and shifting dunes along our beaches. When the next storm washes away all of the restored beaches, FEMA steps in and pays for a redo, as I understand it, throwing more and more money at something a third grader can understand, doesn't solve a thing, and certainly is a cause of the numerous wasteful spending projects found around our Country.

Concerning the bold above:
Off topic and this may have been mentioned elsewhere and I missed it, but I just heard last week that FDEP has now started offering beachfront property owners that built seawalls (that were permitted as temporary but are permanent) the option of applying for a variance since their homes are not "qualifying structures" for seawalls.

 

[BeachSiO2]

Now I feel confused. I understand that the deficits include emergency repairs from hurricane recoveries. Is that all which the deficits include? (setting aside the loan used to pay for the Beach Restoration projects)

The deficits are due to the fact that the cost of hurricane repairs and beach restoration exceeded the revenues collected for those two cents- the second cent bed tax goes to beach maintenance and the third cent goes to beach restoration. No other TDC programs led to the deficits.

 

[RebelRider]

Well please look at page 54 of the 2007 CAFR and it states that the two loans in question we secured with a portion of the bedtax revenue for beach restoration and that the proceeds were used for "beach renourishment".

It appears that all of the debt was secured with the understanding that the proceeds of the loans would be used in that manner.

I suppose that one could surmise that the prior hurricanes created the need for beach renourishment and that the loans were in fact used for hurrican recovery. I just don't happen to agree with that premise.

 

[BeachSiO2]

I thought all of those bills were filed with FEMA for reimbursement after the recovery.

They were.

 

[BeachSiO2]

Well please look at page 54 of the 2007 CAFR and it states that the two loans in question we secured with a portion of the bedtax revenue for beach restoration and that the proceeds were used for "beach renourishment".

It appears that all of the debt was secured with the understanding that the proceeds of the loans would be used in that manner.

I suppose that one could surmise that the prior hurricanes created the need for beach renourishment and that the loans were in fact used for hurrican recovery. I just don't happen to agree with that premise.

No the loans were used for beach restoration, as I clarified above.

 

[Smiling JOe]

The deficits are due to the fact that the cost of hurricane repairs and beach restoration exceeded the revenues collected for those two cents- the second cent bed tax goes to beach maintenance and the third cent goes to beach restoration. No other TDC programs led to the deficits.

In that case, I think your earlier statement was clear, and as I understood it. Thanks for clarifying.

 

[BeachSiO2]

Whats the skinny on Titus? I heard last week she is consulting for them now at more than she was paid as an employee in the past?

She went to work in the private sector. I checked with the TDC and she is not working for them in any capacity.

 

[WileCoyote]

She is now a partner in a spinofff company of USDM (US Destination Marketing). She is partners with the CEO of that company. USDM has a contract with the TDC for marketing. They have been paid over $4.2 million by the TDC since 2001.
(source of data is vendor history report for USDM from the WC Clerks Office obtained by the WCTA - I got it from them.)