Broward Denies Lauderdale Lakes Bailout After City Manager's "Governmental Ponzi Scheme"

Categories: Broward News
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This sign will probably be replaced with a "for sale" sign
Apparently having negative money isn't ideal for running city like Lauderdale Lakes -- but the Broward County Commission isn't quite ready to help.

Lauderdale Lakes commissioners place a lot of the blame on former City Manager Anita Fain-Taylor -- who was lambasted by one of the city's commissioners before she was unanimously booted out of office -- as the city believes it's nearing a $9 million deficit.

The county commissioners response to Lauderdale Lakes' request for financial assistance: Yeah, no thanks.

Still, the city believes that the fault for the financial downfall was Fain-Taylor, who the commission believes has been cookin' the books for years.

According to the Sun-Sentinel, Lauderdale Lakes Commissioner Eric Haynes says what happened to the city "is no different than what happened to Bernie Madoff investors and Scott Rothstein investors.

"The commission was provided data, financial data that was manipulated. It was pretty much a governmental Ponzi scheme," he says.

The county may never have strongly considered bailing out Lauderdale Lakes anyway.

Lauderdale Lakes Commissioner Benjamin Williams told the Sun-Sentinel in May that the county wasn't really leaning on giving the city money, saying, "...if we help Lauderdale Lakes, we have 30 other cities that can ask for the same thing."

The plan for Lauderdale Lakes was to try to get their bailout from the county, and if that failed, they were supposed to propose a lease-back program -- mortgaging the equity on the city's property to pay the debt.

That apparently wasn't proposed, but the commission says they're going to try and dig out of the whole on their own.

Commissioners say they're going to raise the property tax near or to the limit of state law, increasing the fire fee, cutting fire and police funds 25 percent, and maybe a new public-safety tax.


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6 comments
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John
John

You need to follow up if criminal charges are being looked into against the city manager.  If she cooked the books, then that's fraud.  If the Commissioners should have seen it and didn't, that's incompetency. 

FringerKnows
FringerKnows

All I know is I don't think any little short guy with grey hair who I first thought was bleached, but was really the big bopper Steve Caputi from the Middle East. Whee did Steve Caputi stash his homestead act paper so he could sell his house and live the big life. Doesn't the bank ever remember that? Good luck Ft. Lauderdale. Open can of worms. And the Worm's name is Steve!

pulp is a joke
pulp is a joke

#1. Typos, typos, typos. You're not a good writer, and your editor is even worse.

#2. Benjamin Williams, Jr. is NOT a Broward County Commissioner. He is a Lauderdale Lakes Commissioner. You're not a good writer, and your copy editor/fact checker is even worse.

#3. If the City is placing all the blame on the former City Manager, why did they fire her for convenience and not for cause? Firing her for cause would have saved them approximately $100,000 in severance. Didn't you write a story about her firing when it occurred, or is your memory that short?

Do you actually talk to the people you quote in your stories or do you just watch video of the meetings and report on that? Not impressed....

Tony
Tony

The fact is South Florida has an enormous public corruption problem that up until recently little has been done about. The reason for this is an apathetic public and lazy media. The people get what they deserve    

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