Thanks Mr Studer for all you do for Pensacola.
The board that governs the Community Maritime Park, which is facing a half-million dollar shortfall this year, got a temporary reprieve today on a $500,000 loan from the city's Community Redevelopment Agency that's due next month.
The Pensacola City Council -- meeting as the Community Redevelopment Agency this afternoon -- approved an eight-month extension in exchange for the Community Maritime Park Associates board presenting a concrete plan on how it will handle its finances in the future and ultimately pay back the loan, which was used to add dressing rooms, restrooms and storage in the back of the amphitheater. LOL They loan the money to some yahoos that dont know how they are going to pay for it?
To help come up with that plan, the city has hired former Escambia County Administrator Randy Oliver as a temporary consultant. He will help craft a sustainable plan for the park going forward. His six-month contract calls for $5,000 per month payments.(Are they saying there is no sustainable plan for the Park? Damn it!! What have we been saying? This is insane.
The Community Maritime Park Associates board voted unanimously two weeks ago, at the request of its audit and operations committee, to ask the city's CRA to forgive the $500,000 loan due next month.
The CMPA has a projected budget totaling about $1 million this year with only $500,000 in expected revenue, most of which comes from lease fees and ticket surcharges the Blue Wahoos pay to use the stadium during baseball season.
And those figures don't account for the additional $500,000 loan repayment.
Council members quickly dismissed the possibility of forgiving the loan, opting instead to give the CMPA board a temporary extension.
Councilwoman Sherri Myers said the extension will help the council get "a more realistic picture" of the CMPA's finances and how long it will actually take to pay back the loan. Duh!!! Think that might be a little late?
Oliver said it would be premature to comment on the CMPA's finances or his ideas without having been acquainted better with the board's books.
The board that governs the Community Maritime Park, which is facing a half-million dollar shortfall this year, got a temporary reprieve today on a $500,000 loan from the city's Community Redevelopment Agency that's due next month.
The Pensacola City Council -- meeting as the Community Redevelopment Agency this afternoon -- approved an eight-month extension in exchange for the Community Maritime Park Associates board presenting a concrete plan on how it will handle its finances in the future and ultimately pay back the loan, which was used to add dressing rooms, restrooms and storage in the back of the amphitheater. LOL They loan the money to some yahoos that dont know how they are going to pay for it?
To help come up with that plan, the city has hired former Escambia County Administrator Randy Oliver as a temporary consultant. He will help craft a sustainable plan for the park going forward. His six-month contract calls for $5,000 per month payments.(Are they saying there is no sustainable plan for the Park? Damn it!! What have we been saying? This is insane.
The Community Maritime Park Associates board voted unanimously two weeks ago, at the request of its audit and operations committee, to ask the city's CRA to forgive the $500,000 loan due next month.
The CMPA has a projected budget totaling about $1 million this year with only $500,000 in expected revenue, most of which comes from lease fees and ticket surcharges the Blue Wahoos pay to use the stadium during baseball season.
And those figures don't account for the additional $500,000 loan repayment.
Council members quickly dismissed the possibility of forgiving the loan, opting instead to give the CMPA board a temporary extension.
Councilwoman Sherri Myers said the extension will help the council get "a more realistic picture" of the CMPA's finances and how long it will actually take to pay back the loan. Duh!!! Think that might be a little late?
Oliver said it would be premature to comment on the CMPA's finances or his ideas without having been acquainted better with the board's books.