" Financially Speaking, This Is the Most Difficult Time We've EVER Found Ourselves in."

[Compression]

Originally Posted by rikoshaprl

It makes a big difference in your rates

Does anyone know exactly what the failure of the NFIP reauthorization means? Is the program non functional at this point, and those that have purchased coverage in the past, no longer have coverage? Or is it a matter of no NEW coverage can be written, like for those that would like to close a transaction on a home in a flood zone? What about renewing existing policies?

Kinda curious to know.............



www.fema.gov/business/nfip/nfip-reauth.shtm (broken link)

YC.......

[rikoshaprl]

Originally Posted by yachtcare

Does anyone know exactly what the failure of the NFIP reauthorization means? Is the program non functional at this point, and those that have purchased coverage in the past, no longer have coverage? Or is it a matter of no NEW coverage can be written, like for those that would like to close a transaction on a home in a flood zone? What about renewing existing policies?

Kinda curious to know.............



www.fema.gov/business/nfip/nfip-reauth.shtm (http://www.fema.gov/business/nfip/nfip-reauth.shtm - broken link)

YC.......

I think it only affects new policies. I recently confirmed that my policy, that I took out in March, is still in effect.

[yoko]

" Cape Coral property values fell 15.66 % according to Wilkinson, a slight bump from the estimated percentage of 16.28 released June 1.

Total taxable valuation countywide is $55,738,091,451, down more than $9 billion from the final taxable tally of $64,924,773,335 in 2009.

In 3 years, Lee county's total valuation decreased by 55 % , according to Wilkinson.

He said whilethat number is extremely dramatic, it does make senseconsidering the meteoric rise of the county property values during the boom years. "It's amazing to me but it makes sense," Wilkinson said. "During the run, we led the nation. It's common sense we would lead in decreased value. "



July/01/2010
NFM property values down 12.46 percent, Bayshore District down 9.25 percent - NorthFortMyersNeighbor.com, news, sports, Florida info, North Fort Myers Neighbor



Ever shrinking tax base/revenue. Who is going to pay for Cape Coral's $1 bn debt?

[yoko]

Originally Posted by yoko

“ Financially speaking, this is the most difficult time we’ve ever found ourselves in,” Commissioner Frank Mann said. Mann called a press conference to rally support behind strict austerity measures.

“Nobody is facing what’s going on here,” Mann said.

County Manager Karen Hawes on Monday will present about $48 million worth of spending cuts ahead of next year’s budget. Even with the cuts, the commission will have to look at raising its tax rate for the first time in more than a decade to help close a budget gap of around $84 million.

County employees will likely have to take off two weeks without pay. Library, park and office hours may be cut. Road and median projects could be slashed.
Properties in Lee are worth 15 percent less this year overall. Because local taxes are based on a property’s value, the county would have to raise its tax rate 18 percent to bring in the same amount of taxes next year.

• $416 million: county’s operating budget this year
• $84 million: budget gap next year without a tax rate increase
• 15 %: drop in taxable property values
• 12.7 %: latest Lee County unemployment rate "

June/25/2010
Lee County budget battle heats up | news-press.com | The News-Press (http://beta.news-press.com/article/20100625/NEWS01/100624058/https - broken link)
Comparing numbers...Cape Coral debt is over $1 bn. Almost three times more than the county's operating budget for a year!!

" Cape Coral police officer Albert ArX has resigned from the department after an internal investigation revealed he accepted almost $4,000 in pay he did not earn.
The internal investigation found that ArX began receiving incentive pay for having a master’s degree in April 2007 and also received a retroactive payment from July 2006 after he was hired, according to Murphy.

The subsequent investigation found that ArX did “not have any college degree or college credits through an accredited college to warrant receiving the academic incentive monies,” Murphy said. "

Aug/04/2010
Cape Coral police officer resigns after report shows he accepted unwarranted pay | news-press.com | The News-Press



Austerity measures?
Not for Cape Coral, right?
Cars, gifts, useless advertisement, useless construction projects, etc.



" Mayor John Sullivan calls Station 9 a "Six-Million Dollar Mini Taj Mahal."
Paperwork from new city manager Gary King shows Station 9 - finished in 2008 - actually came in under budget at about $4.7 million.
Mayor Sullivan said if the city didn't build expensive stations, it would have more money for crews. He said the $62,000 allotted for fire poles was outlandish.
McClain says each station is built for a purpose. He says Station 9 can withstand a Category 5 hurricane."




http://www.abc-7.com/Global/story.asp?S=12879420

[Donna-501]

Originally Posted by yoko

" Cape Coral police officer Albert ArX has resigned from the department after an internal investigation revealed he accepted almost $4,000 in pay he did not earn.


The internal investigation found that ArX began receiving incentive pay for having a master’s degree in April 2007 and also received a retroactive payment from July 2006 after he was hired, according to Murphy.


The subsequent investigation found that ArX did “not have any college degree or college credits through an accredited college to warrant receiving the academic incentive monies,” Murphy said.

Steve Petrovich, a former police officer, has been sentenced in federal court to two years in prison for his role in a mortgage fraud scheme.



Aug/04/2010
Cape Coral police officer resigns after report shows he accepted unwarranted pay | news-press.com | The News-Press



Austerity measures?
Not for Cape Coral, right?..drivers, gifts, useless advertisement, useless construction projects, etc.

I was more than happy to see Petrovich go. As for his son I do hope he gets what he deserves.

[equalrightsforeveryone]

"In 3 years, Lee county's total valuation decreased by 55 % "

The whole of the real estate market needed a correction.
The local governments just used it to collect more and more taxes from the property owners, to feed their uncontrolled spending and increasing the size of the government.
It is time for downsizing of the government too many people are paying them selves a lot more then they are worth. In the private sector they would never make that kind of money for the job they are doing. The local population can't make ends meet and the government workers are getting fat on the backs off the citizens.
This must change

[yoko]

Originally Posted by equalrightsforeveryone

"In 3 years, Lee county's total valuation decreased by 55 % "

The whole of the real estate market needed a correction.
The local governments just used it to collect more and more taxes from the property owners, to feed their uncontrolled spending and increasing the size of the government.
It is time for downsizing of the government too many people are paying them selves a lot more then they are worth. In the private sector they would never make that kind of money for the job they are doing. The local population can't make ends meet and the government workers are getting fat on the backs off the citizens.
This must change

Fantastic !

[faithfulFrank]

Old duplicate thread...closed.