Mayor Cason’s Promises–How Is He Doing?

July 6, 2011 Leave a comment

I would say that Mayor has a way to go in meeting his promises on transparency, controlling pension benefits, controlling millage rates, city efficiencies, having open management, and making suggestions (hopefully not in secret).

We will see if this government is more than cutting ribbons and letters to new residents.

MY 10 PROMISES TO YOU

  1. I will be a full time Mayor.
  2. I will work in the best interests of the citizens of Coral Gables and be respectful of their concerns.
  3. I will support transparency of City Hall’s government.
  4. I will control pension liabilities moving forward in order to reduce Unfunded Actuarial Accrued Liabilities. (UAAL)
  5. I will avoid conflicts of interests and favoritism.
  6. I will fight to keep millage rates low.
  7. I will seek greater efficiencies in City management and not tolerate waste, fraud, mismanagement and improper employee conduct.
  8. I will question all aspects of current operations and suggest alternatives.
  9. I will make sure that management keeps the commission well informed on: new or change in ordinances, issues and contracts that will be presented before the commission and offer ample time for discussion before voting is implemented.
  10. I will be an active Ambassador for our City and foster an open and collegial environment for current residents, business owners and visitors.
(Quoted from Mayor Cason’s campaign literature and website.)

Filed under Coral Gables, Election, Government

Just Like The City Manager Of Coral Gables

July 5, 2011 Leave a comment

The city manager planned–as was bought into later by the city commissioners (except one)–and hid his designs for a huge post-election investment program and, and along with one commissioner (real estate broker and banker), distorted the real cost of the financing the program by stating that since the debt payments had been budgeted, there is no additional cost to the city of the refinancing.

A first year economics student at UM can tell you that this is pure baloney.

Indifference to public opinion in Miami-Dade, including Coral Gables, is because of voter indifference and politicians’ dislike for good, transparent and participatory government.

Of course neither the White House nor congressional leadership has shown the slightest interest in keeping the American people informed about any step of this process, and they have evinced even less interest in reflecting the values and opinions of the American people. Public opinion counts for almost nothing these days in guiding public policy.

via Jeffrey Sachs: Restoring American Democracy.

Filed under Coral Gables, Finance, Government, Miami-Dade County, National

Coral Gables Debt Surge–Take Note, Interest Rates Will Stay Low

June 22, 2011 Leave a comment

One justification for the Debt Surge in Coral Gables for its so-called Renaissance is that the city will lose a window opportunity of low interest rates.  This is nonsensical since interest will stay low for a long time, and the dange of overspending on the Renaissance projects is far greater that the rush to refinance now.

The following is from today’s Federal Reserve statement:

To promote the ongoing economic recovery and to help ensure that inflation, over time, is at levels consistent with its mandate, the Committee decided today to keep the target range for the federal funds rate at 0 to 1/4 percent.  The Committee continues to anticipate that economic conditions–including low rates of resource utilization and a subdued outlook for inflation over the medium run–are likely to warrant exceptionally low levels for the federal funds rate for an extended period.

via FRB: Press Release–FOMC statement–June 22, 2011.

Filed under Coral Gables, Finance, Government

Be Careful Coral Gables, The Future is Very Uncertain–No Time for More Debt

June 1, 2011 Leave a comment

Le’t hope that the commission and city manager of Coral Gables think hard again about the city’s economy and the need for more debt at a very uncertain time.  Paciencia!

Even the optimists are nervous about the next few months. It’s possible that some of the gloomy data reflect excessive caution ahead of several key events: The end of the Federal Reserve’s asset purchases, the resolution of the U.S. debt-ceiling soap opera, the resolution of Europe’s fiscal disaster, and the ability of the developing world to achieve its soft landing.

If all of those go well or even just OK, the future might look a little brighter at the end of the summer. And if they don’t? We may look back on this spring with fond memories.

via Will the economic slump last? MarketWatch First Take – MarketWatch.

Filed under Budget, Coral Gables, Government, Housing, Property Values

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