by SC Reporter Emilie Alfino
Bridge Loan Extended by 8 Years. On May 26, 2023 the City submitted an application to the State of Florida Department of Commerce (then known as the Department of Economic Opportunity) for funding related to the 2023 Local Government Emergency Bridge Loan program established by the State. This program was put in place to assist local governments in funding the continuity of basic government operations in the aftermath of Hurricane Ian while waiting for funds to begin flowing in from Federal and other State resources. After a series of discussions and negotiations, the City was approved for a loan of $15,260,511. On June 13, 2024, Governor Ron Desantis signed into law a provision that extended the repayment of the bridge loan to September 14, 2033 from the original maturity of 24 months at 0 percent interest. The City has received all of the funding from the bridge loan.
Truck Replacement. The Public Works personnel use trucks to perform daily job requirements for maintaining the Streets and Parks. The trucks are needed to provide efficient daily maintenance operations of the city public rights of way and city owned property. Unit 269, a Ford F350 pickup truck, was damaged during recovery efforts at Lighthouse Beach Park on August 4, 2024 during the effects from Tropical Storm Debby. The Citiy’s insurance carrier, Florida League of Cities (FLC), determined the vehicle was a total loss due to storm surge water getting in the engine. FLC processed an insurance claim payout to the City in the amount of $37,000. An amount of $12,000 typically budgeted for replacement equipment from the Public Works Streets Operating Budget brings the total funding to $48,783.82.
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