MISLEADING MAILERS: DON’T BE FOOLED
Misleading mailers continue to flood mailboxes with the developer trying to trick and deceive voters.
The developer is using the trademark green and blue of Save Boca on recent mailers to try to confuse voters and pretend like they are us.
If you receive a mailer that doesn’t say “Save Boca,” it’s NOT FROM US.
1) MEMORIAL PARK HAS NOTHING TO DO WITH THE MARCH 10TH VOTE
Memorial Park is 100% city-owned now, and it will continue to be city-owned regardless of whether or not this project passes. The developer is trying to construct a narrative that they are giving us a park we already have.
Save Boca already saved Memorial Park, which was targeted by the developer at the beginning so they could bulldoze and build high rise condos on top of it. The park has nothing to do with the vote on March 10th. The vote is about a high density development of 7 high rises and everyone who doesn’t live in this proposed development will have limited access to the park.
2) CLAIMS OF THIS PROJECT "DOUBLING GREEN SPACE" ARE FALSE
This statement has to do with a plan to remove virtually all of the parking from Memorial Park. Again, the park has nothing to do with the March 10th vote, which pertains to the construction of 7 high rises across the street. Without any parking, our access to the park will be very limited.
3) WE ARE NOT GETTING ANYTHING FOR FREE
The City is paying for all civic improvements in this deal. Boca has a net financial position of over $600 Million in reserves and we can easily afford to build a new city hall on our own, without giving away one square foot of public land or parks. The sales-pitch to voters that we need to give away public land to finance a new city hall is a false premise.
4) WE TAKE ALL THE RISK AND DON'T SEE SUPPOSED REVENUE UNTIL DECADES LATER
The mailers claim this deal will generate “billions” in revenue. However, this is over 99 years. The developer can flip the buildings early and pocket their money, whereas the taxpayers won’t see any substantial revenue until decades later and that's only if the projections hold. Financial analysts say projections 5 years out are unreliable, let alone 99 years.
The deal is structured as a lease so that the developer doesn’t put any money down on the land and can flip the property in 5-7 years with hardly any cash down. The developer can walk away rich, the taxpayers shoulder all the risk and pay hundreds of millions up front in cash, and then don’t see any substantial revenue until decades later (and that’s only IF the project pans out--but the developer could very well go bankrupt like the Mandarin Oriental and if that happens can walk away easily having put hardly any money down).