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Friday, 13 August 2010 11:58

We certainly agree with Osceola County and city of Kissimmee officials that county financial help for the Kissimmee Lakefront Park improvement project using tourist development tax revenue would be appropriate, given that the city would host additional professional fishing tournaments there, thus increasing overnight stays. At least that’s the theory. We also agree that no county property tax money should be appropriated for these improvements if the county were ever to pledge support.

There are lots of advantages to going out for bond financing sooner rather than later to put in place all the funding needed to finish the lakefront project, especially since construction and debt costs are way down.

On the bright side, tourist development taxes were about 12.4 percent higher in June compared to the same month in 2009, which was a good sign, especially considering it was the third month so far in the fiscal year that monthly revenue had improved compared to a year earlier. However, it is going to take more than a few months of improving revenue to rebuild county tourist tax reserves to a point where this pot of money can fund any more projects. Of course, the County Commission deciding not to provide $7.5 million as seed money for additional amateur sports playing fields would allow other projects to be funded, but we don’t see that happening.

City officials said the lakefront work would eventually be completed with or without county help, which is why the project is being completed in phases. The first phase is designed, for example, in such a way that when it ends, the next one can be delayed and the park would not be torn up in the interim, though it might be short on amenities.

How soon sales tax revenue for the city and tourist tax revenue for the county will decidedly turn upward is anyone’s guess, but it will eventually. But so too will costs for construction and interest on bond debt.

Beaumont site

As far as the county selling the 21-acre Beaumont site, we would not recommend it until county leaders officially decide where they are going to build a new administrative building.

If developed for high density residential and retail/commercial purposes, this site certainly could help fuel private development downtown, and it would be a good complement to the nearby hospital and medical offices. As Mayor Jim Swan said, there are many forces in play – including road congestion and air quality standards – that will require communities to embrace “walkability.”

 

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