Wednesday, April 06, 2016

Who has the Cojones in the County to Call a Bail Out of the Frost Museum A Bad Move? By Geniusofdespair

Apparently the only two people with Cojones are Mary Cagel and Juan Zapata when it comes to calling out VERY BAD DEALS for County Residents.
I had many reservations about Mary Cagle our Inspector General, one of them being her close ties to Katherine Fenandez Rundle and our Ethics Commissioner. They are all out of the same office but Cagle surprised me in a good way with her recent report on bailing out the Science Museum. You must remember, the Science Museum has a good home near Vizcaya and if they needed more room, there was available space at the former MAM museum across from the history museum. Why did we spend millions of dollars to design and build the museum complex by the library only to leave it vacant? The Science Museum didn't have to build in Bicentennial Park. The Science Museum insisted on the move to the Park saying they would raise the funds. Apparently the Frost Couple came through with funds but not many others. Now we have to take care of the damn building.

From the Inspector General report:
OIG DUE DILIGENCE OF THE PROPOSED RESCUE PLAN
As it directly relates to the proposed agenda items, the County has been placed in an untenable position. After having approved the investment of $165 million, the County is now faced with the possible cessation of construction—and the degradation of its investment—due to the Museum’s fundraising shortfalls. The County’s initial investment represented 61% of the $270 million project. With the proposed increase of funding, the County’s investment will increase to $210 million or 69% of the revised $304.4 million project.
County Commissioner Juan Zapata has Cojones

 The vote was 11 to 1 at the County Commission to bail out the Science Museum, County Commissioner Juan Zapata was the only no vote, from the Miami Herald:
Commissioner Juan C. Zapata cast the lone no vote against the proposal. He said he wanted the administration scrutinized over the crisis, which saw Miami-Dade pay roughly $160 million to a construction project only to see Frost unable to provide the private dollars needed to finish it. “We didn’t get here by accident,” Zapata said.
To the rest of you commissioners: It is all Bullshit, we don't need your words we need you to protect our money with your vote. We get that you are all intimidated by Rich People like the Frosts but you are not on the Commission to make them happy and suck up to them. Instead you should have all been hopping angry like Juan especially in light of the OIG report:
This week, the county’s Inspector General office issued a report criticizing the Gimenez administration for allowing almost all of the county’s $165 million contribution to the museum to be spent while the Frost was allowed to save its private dollars until the end of the construction time line.

“What are we telling our kids if people do wrong acts and what we do is just bail them out?” school board member Raquel Regalado, who is challenging Gimenez in the 2016 mayoral race.


11 comments:

Anonymous said...

The building is too complex and will need millions in yearly maintenance. Thirty year burden.

Jose Regalado said...

My Father and I were talking about this very issue in the morning. "This is the Marlins all over again"

BBC General Obligation Bonds are only given out with MATCHING funding. The museum failed so we are rewarding bad behavior. The County is like the co-dependent friend that is stuck in a horrible relationship. "Sure they treat me bad, but we have invested so much in it." This has happened every year with some new boondoggle and CONTINUES to happen with YOUR tax money.

Anonymous said...

Barbara Jordan we didn't vote on a boondoggle. The entire bond was all bundled without proper explanation. This is not what the people wanted and you know it.

Anonymous said...

What kind of stupid deal did the county do with the science museum? The science museum was to raise private funds to pay the balance of the county $165m to build the museum. There appears to be no county oversight of the project. Why would the county put all our bond money in first, without making sure the museum had the promised funds to complete the building. Did no one in the county check to see if the private funding existed? Did the science museum deceive the county mistating pledges and funding in place? This again appears to be gross mismanagement on the county's part and possible criminal intent on the museums part. Nothing was learned from a string of endless bad deals and past bailouts. The current county mayor and his strong mayor government is an embassassment.

Anonymous said...

Take their name off of it and I'll bet they find the money.

Anonymous said...

When Rebeca asked why commission had no info on who had reneged on pledges he said that wasnt the issue. That is exactly the issue. Frost said there were 5 million in pledges. Spring was lying covering for the mayor. Why wasn't Cagle speaking?

Anonymous said...

banana republic squared. Did Batista believe in the commission?

Anonymous said...

Barbara Jordan let's be very clear: I didn't vote for this part of the deal. If you can't monitor a deal, don't do it. You are an embarrassment lying about what we agreed to. All of us don't have short memories.

Anonymous said...

So who is going to own it? If the County is coughing up a majority of the bread
I hope the County owns it If so appoint a separate commission to run it.

Anonymous said...

I was initially under the impression that these were tourist development dollars being used. I now see, after reading the commission minutes that they are Industrial Development Authority dollars. Who knew we had such an authority.

My question is, where does the IDA get their money? Is it from ad valorem taxes? Perhaps GoD can comment. Thanks.

Anonymous said...

the deal has the funds coming from a bond issued by the IDA. The funds to repay the loan is from Convention Development Tax aka tourist tax. The museum gives up the $4 million operating subsidy to pay back the loan.

it sucks, but definitely not the marlins deal.