Keeping you in the loop…
Highlights of the June 10th, 2020 PBSD Meeting:
- New Officers Elected… Mr. Michael Fogg was elected Chairman & Dr. Joseph Chicurel was elected Vice-Chairman. We extend a special “Thank you” to Chairman Strickenbein for all of the hours that he spent on our behalf and his success as the PBSD Chairman. We also acknowledge all of the directors for their hard work. 👏 If you attend a few PBSD meetings, it is immediately clear that being a PBSD Director is no easy job.
- Fiscal Budget Approval… After an extensive discussion, and many clarifications of various items, the budget was approved for FY 2021.
- Discussion on Financing Improvements… A 10 year, $17,000,000 bank note was proposed for a variety of Pelican Bay projects, some of which have been identified, engineered and priced (sidewalks) while others, identified, have yet to be designed & costed (water restoration and a new building for the Services Division equipment & staff). In addition, there was also money included in that the loan amount for unidentified projects for which costs & the length of the useful lives of the projects to be financed were not yet known. The useful life of projects being financed with debt is important because it defines the structure & length of the financing(s) that is/are used. Collier County Budget Director, Mark Isaacson, joined the meeting and shared enlightening thoughts and ideas about possible PBSD financing options. This is not a simple subject, but at the same time, it is done successfully for various public jurisdictions daily all over the Country. At the right time and with complete cost & engineering data, there is absolutely no doubt that our PBSD Board will successfully obtain the right financing to get the jobs done at a favorable cost to Pelican Bay residents.
- Discussion on PBSD Website… There was a discussion as to why the PBSD website has been down for a couple of months. Apparently, Collier County controls this website and removed it with the intent to reinstate it in a manner acceptable to them.
Note: While Collier County makes it clear that the PBSD is a Division of the County, that does not mean that our PBSD Board does not possess authority over Pelican Bay affairs.
By Mark English, President
for the Pelican Bay Property Owners Association
