Opportunities & Challenges

Our town is presented with a number of exciting opportunities as well as some difficult challenges. Let’s explore some of the more prominent opportunities and a difficult challenge that are before us.

Some Exciting Opportunities

• Downtown Investment - It has been estimated that there is more money being invested in downtown in 2007-08 than in any time in the last 20 years. Planning and renovations are in process or just completed at the North Arcade, Bank of America building, old City Hall, the Bullard Building, and Ed Pilkington’s building on Park Ave. next to the Arcade. Substantial investment has also been made at Tres Jolie and the Arcade Coffee Shop. Brenda’s Gifts adds another fine retailer, and another restaurant is opening in place of the Stuart Ave. Café. These improvements will help crystallize our position as a premier destination in Central Florida.



• Downtown Study - The study of downtown by Martin Vargas, funded by Richard Quaid, is nearing completion. It will be the starting point for healthy discussions on the direction for downtown capital improvements.



• Grand Hotel - The City’s acquisition of this landmark building is a step forward. On March 30 the CRA board and the Chamber’s CRA Steering Committee will meet at 6 p.m. in the Commission Chambers to discuss the downtown study and the next round of requesting proposals.



• CSX - The CSX development proposed in Winter Haven is expected to bring companies that will use the facility to SR 60 in our town’s utility service area (and future city area) east of the railroad track at Petersen Industries. The City Commission recently gave an endorsement of this project with conditions relating to the abatement of pollution and traffic.

A Difficult Challenge

Budget Woes
The downturn in the economy is affecting cities as well as households. At this point City staff projects that at year end, budgeted revenues will be short nearly $400,000; however, because of spending cutbacks to this point, the current difference between revenue and expense is projected to be $91,550 in the General Fund. The City’s Finance Committee and City Commission will hold special meetings to determine how this shortage will be corrected. The dates and times of these meetings are now being arranged and will be announced in the near future.

The need for spending cuts comes at a time when the City needs to improve the amount of reserves in the General Fund. The General Fund contains the funding for critical emergency services (police and fire) as well as culture/recreation, and many of the departments in City Hall. A major funding source in the General Fund, property tax revenue, has the bulk of its receipts after January 1. The General Fund reserves are used not only in case of unanticipated, emergency expenditures, but to “carry” the General Fund in the early part of the fiscal year (October, November, and December) until the bulk of the tax revenue is received.

Our town has been through difficult times in the past, and the City Commission will make the necessary corrections. In this process, your input is welcome.