Manager's Report for the December 10, 2019 Town Council Meeting

Proposed Upcoming Town Council Meeting Schedule

  • December 10th - 6:30 PM Regular Town Council Meeting

  • January 7th - 6:30 PM Regular Town Council Meeting

  • February 11 th - 6:30 PM Regular Town Council Meeting

  • March 10th - 6:30 PM Regular Town Council Meeting and CRA Meeting

Upcoming Events​

  • December 7th - 11 :00 AM Holiday Parade
  • December 7th - 6:00 PM Tree Lighting
  • December 9th - Home Decorating Contest
  • March 27th - Movie Night
  • March 29th - Town BBQ

 

Additional Updates

 

 

Loans Closed

On November 21 st the Town closed two loans. Town of Lake Clarke Shores Utility Fund borrowed $2,977,000 from JP
Morgan Chase (Utility Series 2019) at a rate of 2.19% for 15 years. These funds pay off two existing utility loans and
provide the matching funds for a $300,000 Special Appropriation we received from the 2019 Legislature for design of the
proposed septic to sewer conversion project. The Town of Lake Clarke Shores General Fund borrowed $1,174,000 from
BB&T (Bridge Series 2019) at a rate of 2.08% for 7 years. These funds pay off an existing loan and provide the funds
needed to replace the Pine Tree Bridge. The interest rates on both these loans are very low and staff wishes to thank our
bond counsel Skip Miller and our financial advisor Jeff Larson for their guidance and assistance.

 

Lake Okeechobee Levels and Water Supply

There has been significant concern over the last year about the way the US Army Corp of Engineers has manipulated the
Lake Okeechobee water surface level. The Lake is a significant source of water to the region's water providers and low lake
levels could have negative impacts on our ability to provide water to our customers. Coronel Kelly from the USACOE
reported yesterday the Lake is back up to EL 13.09. They have no plans to go much lower. They are releasing water to the
C-51 Canal which means we have a greater chance for blue-green Toxic algae to be found in Lake Clarke. They are
advancing the EAA Reservoir project schedule so more water can be released south rather than east. I believe this is a
good compromise between environmental issues and water supply issues. Staff will stay involved and should the
USACOE position change, we'll let you know.

 

Lake Clarke Shores Infrastructure Oversight Committee Annual Report

On November 19, 2019 the Town's Infrastructure Surtax Oversight Committee met to review the activities from FY19 and
the proposed activities for FY20. The Committee approved a DRAFT FY19 Annual Report showing $178,379.20 spent on
road resurfacing. They also discussed the new Bridge Series 2019 Loan, planned bridge replacement schedule, and how
the debt service and other infrastructure projects will be authorized and completed. Finally, the Committee reviewed the
revenue collected since the beginning of the tax ($582,150.89) and the expenditures since the beginning of the tax
($299.438.80) leaving a fund balance of $282,712.09. Committee Member Albert Pavon has resigned from the Committee
effective December 1, 2019.

 

Hurricane Dorian

We have had a conference call and an on-sight meeting with FEMA representatives to begin the process of recovering
approximately $55,000 of Category B expenses for Hurricane Dorian. Category B expenses are expenses incurred in
preparation for the storm. We are still waiting for the payment of some of the funds the Town expended during and after
Hurricane Irma.

  • Printer-friendly version