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Renee Basel
From:Lee Evett <levett@willdan.com>
Sent:Tuesday, August 28, 2012 12:25 PM
To:mark raymond; Bill Thrasher; Danny Brannon; Susan Schoettle-Gumm
Subject:RE:
We are calculating the total assessment assuming the lowest interest for the shortest period with level annual
assessments and 5% admin costs each year.
Historically in Florida, assessments have a collection rate of 99.7% - they are collected in the same manner as
property taxes. By law, the Tax Collector cannot accept partial payments (I want to pay my tax but not this
assessment). If not paid the Tax Collector sells certificates for three years, gives the proceeds to the local
government and then sells the property after three years and pays off - first - all property tax and assessment
liens. The .3% not paid are from properties whose value on the day of sale is not sufficient to cover taxes and
assessments. This should not be a problem in Gulf Stream.
Lee R Evett
Vice President
Southeast Operations
Recipient of the 2012 Florida City/County Management Association Presidents Award "If you care, you do"
Willdan Financial Services
7380 Sand Lake Road, Suite 500
Orlando, FL 32819
T. 407.352.3958 C 407.739.9190
F. 888.326.6864
levett@willdan.com
Cost Allocation Plans/User Fee Studies, Fiscal/Economic/Real Estate Analysis, Infrastructure Assessment
Studies, Utility Undergrounding and Fire Assessment Studies, Operational and Fiscal/Management Analysis,
911 Communication Center Consolidation Studies, Privatization Feasibility Studies, Water/Wastewater Utility
Rate Studies
-----Original Message-----
From: mark raymond \[mailto:mark.raymond@mraymondlaw.com\]
Sent: Tuesday, August 28, 2012 11:59 AM
To: 'Bill Thrasher'; Lee Evett; 'Danny Brannon'; 'Susan Schoettle-Gumm'
Subject: RE:
I doubt the TC will consider that an adequate answer. What is the current estimate of the project cost and how
much money from assessments is on hand?
We will not look very intelligent if we cannot answer these questions.
Mark E. Raymond
4360 Northlake Boulevard
1
Suite 204
Palm Beach Gardens, FL 33410
Tel.: 561-775-8440
Fax: 561-775-8442
Cell: 561-758-0930
Email: mark.raymond@mraymondlaw.com
website: www.mraymondlaw.com
-----Original Message-----
From: Bill Thrasher \[mailto:bthrasher@gulf-stream.org\]
Sent: Tuesday, August 28, 2012 11:54 AM
To: mark.raymond@mraymondlaw.com
Subject: FW:
-----Original Message-----
From: Lee Evett \[mailto:levett@willdan.com\]
Sent: Tuesday, August 28, 2012 11:48 AM
To: Bill Thrasher
Cc: Susan Schoettle-Gumm
Subject: RE:
Bill, I hope that the loan proceeds and pre-paid assessments will be in excess of project costs. At the end of the
project, it will be necessary to "true up" final costs with revenue. If revenue is more, than refunds will be made,
if not, you can go through the entire assessment process again for the difference or eat the cost from your
General Fund or any other legally available funding.
Lee R Evett
Vice President
Southeast Operations
Recipient of the 2012 Florida City/County Management Association Presidents Award "If you care, you do"
Willdan Financial Services
7380 Sand Lake Road, Suite 500
Orlando, FL 32819
T. 407.352.3958 C 407.739.9190
F. 888.326.6864
levett@willdan.com
Cost Allocation Plans/User Fee Studies, Fiscal/Economic/Real Estate Analysis, Infrastructure Assessment
Studies, Utility Undergrounding and Fire Assessment Studies, Operational and Fiscal/Management Analysis,
911 Communication Center Consolidation Studies, Privatization Feasibility Studies, Water/Wastewater Utility
Rate Studies
-----Original Message-----
From: Bill Thrasher \[mailto:bthrasher@gulf-stream.org\]
Sent: Tuesday, August 28, 2012 11:43 AM
To: Lee Evett
Subject: FW:
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Lee,
Can you answer these questions?
-----Original Message-----
From: mark raymond \[mailto:mark.raymond@mraymondlaw.com\]
Sent: Tuesday, August 28, 2012 11:38 AM
To: Bill Thrasher; Rita Taylor; 'Lee Evett'; 'Susan Schoettle-Gumm'; 'Danny Brannon'
Subject:
I spent a good bit of time on the phone with commissioner dering this morning. One question he asked that I
could not answer is whether the amount of the loan proceeds plus assessments already collected are expected
to be sufficient to pay the project costs, and also whether they might be in excess of the project cost. Clearly
that answer needs to be in hand for this afternoon's meeting.
Mark E. Raymond
4360 Northlake Boulevard
Suite 204
Palm Beach Gardens, FL 33410
Tel.: 561-775-8440
Fax: 561-775-8442
Cell: 561-758-0930
Email: mark.raymond@mraymondlaw.com
website: www.mraymondlaw.com
3