One of the things I find interesting about issue-based elections, such as this one, is that at the end they help people get involved who often would not, and they help create a better understanding among the community.
They also help us choose council members. How they address this issue will inform us on who they are and how they hope to help our community meet the challenges before us.
I am writing in support of the General Obligation Bond question we will be answering in this election.
As I speak to people, there are two topics that most seem to understand and agree on, including all 10 candidates for Village Council.
First is that climate change is real. Hurricanes are stronger and are coming more often. Sea level rise is making us more prone to flooding. Stormwater systems for the entire island need to be upgraded on both sides of Crandon. We need to protect our beaches.
Understanding that, the obvious conclusion is that we will need to implement large infrastructure projects to mitigate the effects of these challenges.
The second thing I see people coming to understand is that the most cost effective and fiscally responsible way to finance these kinds of projects is with G.O. Bonds.
Once we understand that, then it is hard to understand how someone would be against voting to give us the options of using G.O. Bonds when projects are ready.
However, there is still much misinformation circulating, which is why many former councilmembers have decided to get involved.
Some have already debunked the fallacy of the “blank check” argument. The idea that voting for a G.O. Bond option allows the council to do as they please can only be said by someone who does not understand our Charter.
The council already has the option to approve any project and finance it using traditional, expensive, non-fiscally responsible bank loans. That is not what we want them to do. Voting for this bond option only gives us a smarter way to finance projects. It does not give the council any more power than it already has.
I would also like to address the fallacy of the “shovel ready” project.
The narrative goes like this: Why approve the option of using G.O. Bonds now, when the projects are not shovel ready? They say we can wait until projects are ready and then vote on the option of using the preferred financing option. For a brief moment it seems sensical, but it’s not.
If you agree that G.O. Bonds are the most attractive way to finance these kinds of projects, then what difference does it make when the option is voted on? It is always the smartest option.
Unfortunately, however, it could make a difference.
As necessary as these projects are, they are very complex and will require a level of planning not seen here before. They are also interrelated, so they will be planned concurrently and staged in ways that will mitigate the impact on our community. What happens with one project will affect others.
When you are looking at projects of this magnitude — costing $20 or $30 million each — the planning process will require teams of engineers and planners working for many months, sometimes years, depending on the project. It may cost millions just to get a project “shovel ready.”
How can we as a community consider spending millions of our tax dollars to plan a project without knowing how we are going to finance it? No, it does not make sense to wait for “shovel ready” projects.
A “NO” vote will make it exceedingly difficult for projects to move forward. If you really want these projects to go forward, then we need to approve the G.O Bond finance mechanism option now.
We are having a presidential election this year, which guarantees that we will have strong voter turnout, meaning that the will of the entire community will be heard.
Small elections to approve G.O. Bonds as each project comes before council are expensive and are unlikely to be representative since they will attract fewer voters. It carries the risk of a small group deciding the future of an important project by voting down its best financing option.
That does not make sense.
This is the right time to approve the option of G.O. Bond financing. There is no risk in doing so now. There is no borrowing being approved, no taxes going up, and no projects being approved.
We are just approving the option to use the smartest financing option possible for when projects are ready.
It is really simple.
I encourage you to vote “YES” on G.O. Bonds!