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Monday December 22nd 2014

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Even more pension stats

The City of Pensacola has 2008 estimated population of 53,820. The two Florida cities that are closest in populations are Bradenton (53,513) and Margate (54,086). Bradenton has a blended system. General employees are in the Florida Retirement System (FRS). Fire and Police have pension funds. [...]

More on pensions

The comparisons are even worse. The Escambia County Public School District: 2006 5,668 employees, pension costs $14.9 m, cost per employee $2,632 2007 5,765 employees, pension costs $19.5 m, cost per employee $3,381 2008 5,676 employees, pension costs $18.7 m, cost per employee $3,286

Pension plan train wreck

One of the biggest examples of the financial risks in having an administrative branch of city government that isn't directly answerable to the public is the city pension/retirement system. The staff - with the approval of a large ten-member council - has created a huge financial "black hole" that [...]

Anti-charter tones down Fear & Smear campaign

The No Boss Mayor group has reduced its message down from six to four points and toned down the language. They have combined these two points from the Oct. 16 notice:"1)Accountability for day to day administration is lost because the Mayor will only be accountable once every four years at the [...]

Update on NMTC numbers

The New Market Tax Credit numbers are better than Ed Gray reported in August, based on the latest info that I've received: Sources: Gross Proceeds from Bonds: $44,922,968...............................Not the $48M that Donovan claims - will he need a new Pac name? Museum Cash on Hand: [...]

Two ironies

1. The anti-charter people tell us we should leave government to the city staff. The anti-park people tell us we can't trust the financing plan submitted by staff. Many of the same people are in the same anti groups. 2. The person who has opposed the Community Maritime Park since 2004 - before [...]

New Market Tax Credits – quick look

The use of New Market Tax Credits (NMTC) for the Community Maritime Park and particularly the maritime museum has yet to be decided. Here is how Ed Gray of Capital Trust Agency-Community Development Entity presented it in August 2009: SOURCES The City/CMPA Bond issue: $43,000,000 Museum would [...]

What is the CMP bond plan?

The bond financing plan recommended by staff and approved by the council uses New Market Tax Credits which will allow UWF to get $12,256,785 for the maritime museum (if the NMTC portion is approved in November). The bonds includes the interest payments for the first 3 years (called capitalized [...]

Buzz: Benson to announce Thursday

The buzz is Holly Benson will announce her candidacy for Florida Attorney General on Thursday, Oct. 29 from the Escambia County Courthouse steps.

Marty makes smart political move

The new PAC and petition drive against the bond financing is a smart political move by former City Councilman Marty Donovan. There is no downside politically. His political career tanked after the 2006 Community Maritime Park referendum. In 2004, Donovan won re-election against Larry Johnson with [...]

Marty is back

The PNJ reports that former City Councilman Marty Donovan has formed a political action committee to try and get enough signatures for another referendum on the Community Maritime Park. He is stepping in for Tim Eagan and trying to rescind the vote on the bonds. He has 60 days from the council [...]

Another regional alliance

Gov. Bob Riley of Alabama and Gov. Haley Barber of Mississippi will announce today the formation of "The Aerospace Alliance” ---a four-state region from NASA’s Stennis Space Center in Mississippi to Panama City, Florida whose mission will be to establish the Gulf Coast as a world class [...]

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