I reported on the County Audit of the Homestead CRA yesterday. I reported on the Seminole Theatre February 15th. In the post I said the theatre had gotten about $3.3 million so far. The audit says that they have gotten over $4.3 million from various sources over the past 10 years. Among other things, the audit says the CRA paid $162,000 for builder's risk insurance even though the management agreement required Seminole to pay those costs, they pay $40,000 a year in management fees, and they paid almost $22,000 for a pigeon dropping cleanup. I find it odd that they paid about twice as much for builders risk insurance during a year (2006) they didn't pay for construction.
The audit recommendation for the theatre:
TIF funding for the project should be discontinued until there is some assurance that the Theatre will be operational in the foreseeable future, and can be financially viable given the competing theatres in the surrounding area.
That was my recommendation too. I said in my post, stop funding it if it won't be used.
In other Peyton Place, I mean Homestead news, another sex text scandal, this time the Park's Director. I reported on the former City Manager's texting yesterday.