Where is the money to come from?
To the editor:
Did the City Manager Terry Stewart and Mark Mason, director of finance, attend the Bernie Madoff school of finance? One could certainly get that impression from the way things are unfolding in Cape Coral finances. If it looks like a duck and walks like a duck, it just might be a duck!
What else do they have up their collective sleeves to hit the residents with? Public service tax of 10 percent, street lighting assessment, communication tax increase on your phone bill, cell phone, etc., fire assessment amongst others. All of this on top of the ill thought out UEP and Facility Expansion Projects for which we do not have the need! What about the poop plant for untold millions of dollars? Why can’t the city do it like Sanford Florida did at NO cost to their residents? What about the tens of millions of dollars for a Fire Administration building? Why can’t they be accommodated in the new Public Safety Building until the economy is better? What about the approximately $700 million of debt we have already? Who do they think will pay all of this, why the residents of course! Are you mad yet?
All this commercial paper that the city uses to borrow money is nothing more than nalloon mortgages in disguise where you only pay the interest for 5 years and then you pay the piper big-time! All of the inane borrowing by the city is unconscionable in these economic times! It is the citizens that have been hood winked and are now expected to pay and pay dearly for the mistakes of the majority on the Council along with Stewart and Mason!
We have well in excess of 12 percent unemployment and 25 percent of our homes are in foreclosure in the worst recession since the Great Depression!
Moreover, it is disgraceful how the majority on Council in concert with Stewart and Mason have torn this city apart by pitting the North against the South over the UEP and the Utility Expansion Projects! Are you mad yet?
Plan to be at the Council Meeting Monday night at 4:30 p.m. And let them know how you feel. FYI the UEP discussion has been moved to the first part of the meeting.
We need real change folks and the sooner the better!
Lynn Rosko
Cape Coral