After internal financing in previous years, Cypress Head, an amenity, has not been able to pay it’s previous loan.
New debt on top of existing debt.
So now, while parts of Port Orange flood, Cypress Head, an amenity, is a competing priority over funding maintenance of the CoPO Drainage System.
Internal financing is generally an option when the entity is flush with cash and credible budgets have been satisfied. I’m not under the impression that the CoPO is sitting on a surplus.
Maintenance is a critical success factor for the CoPO Drainage System. As it came out in the workshop, it had been all but unfunded.
At meetings, I repeatedly hear term equivalents to ‘budget constraints’. This being the case, internal financing is in direct competition for funds. What are we not going to fund to fund the Cypress Head renovation?
So how can we be so willing to internally finance a non-essential amenity such as the Cypress Head Golf Course renovation. It is not a critical success factor to anything. And it piles new debt on top of existing debt.
Cypress Head can wait. Funding Drainage System is the priority.
Tom [Tommy] Menocal
Port Orange, FL
g: 414.367.4140 – GoogleVoice#
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