The Village of Wellington Florida Council has started its' negotiations with the Palm Beach Community College for a campus in Wellington Florida. Currently the closest campus is in Lake Worth Florida.
This is a controversial subject especially in light of the PBCC being a not for profit organization and therefore will not bring in tax dollars to the village of Wellington which only source of income is property taxes at this time. You can read more here about the Village's response to the Realtor Association of the Palm Beaches requests for not raising our taxes in Wellington.
The most controversial part of this deal is that the village wants to donate 60 acres of land that the village owns on State Road 7, worth over $20 Million dollars. It was purchased for $8.5 Million dollars back in 2003 and the plan at that time was to build a 'signature park'. But with the loss of tax revenue with real estate's declining values this project was put off for another time.
There were residents that are pushing for the campus saying that this is the only thing lacking in Wellington, a college.
Then there are those who are against this project saying that this land was set aside for the benefit of all residents and that a college would not be used by as many residents as proponants are suggesting. With the village needing to cut services this project may not be the best use. Proponants say that 25% of the residents would use the campus. I highly doubt that. Only 5% of the residents are in colleges that live in Wellington. In 2011 there will be $2 million dollar deficit.
We really think that the Village of Wellington should be thinking of ways to monetize the property. When you have a not for profit company whatever that ends up being you are cutting into money that you could be getting. The Palm Beach County Sports Commission offered to put in a ice hockey rink and a sports complex that would generate income directly into the economy and get tax dollars from the property taxes as well but the Village would not even consider their request.
Another option was a medical for profit school that would also bring in tax dollars each and every year in property taxes and other taxes. The Village needs to start thinking about getting revenue from other sources and not walk around with blinders on.
Sometimes I wonder what planet the Village Council lives on. Do they not have anyone on the council that took math in school? Do they not have anyone that understands the needs of the residents and that the most important need is to relieve the tax burden off the residents?
************************************************************************************
Contact Nestor Gasset and Katerina Gasset, CIPS, Realtors®, International Properties and Investments, Inc. Licensed Realtors® in Florida at 561-753-0135 to list your property for sale or to purchase a property in Wellington, Royal Palm Beach, Loxahatchee, Lake Worth, Hypoluxo Island, Lantana, West Palm Beach and the rest of Palm Beach County Florida and Port St Lucie Florida. We are accepting referrals.
Call us today at 561.753.0135 or Toll Free 800.444.3316. Contact us by email if you prefer by clicking on email me on the right side of this page under our profile.
To view all the Wellington Florida Luxury Homes For Sale Click here and then click on Search For Homes We know Palm Beach County and St Lucie Country; we will help you get your home Sold if you need to Sell your home and help you buy your Wellington Home or Land ; call us today.
Disclaimer:The information provided herein is supplied by several sources and is subject to change without notice. Wellington Homes Blog does not guarantee or is any way responsible for its accuracy, and provides said information without warranties of any kind, either express or implied. Entries on Wellington Homes Blog represent the opinions and ideas of the author(s). Wellington Homes Blog does not express the views of International Properties and Investments, Inc or those of the broker.
P.S. If you are listing your home as a short sale in Palm Beach County Florida and Port St Lucie Florida make sure you hire an agent who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. Call us at 561-753-0135 to find out more about Palm Beach County Short Sales and Port St Lucie Short Sales.
Copyright © 2008 By Katerina Gasset, All Rights Reserved.*Wellington Florida Tax Update- Response To Lower Taxes By Our Mayor*
Comments(4)