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Peary Court
In today’s Key West Citizen, my interjected thoughts in bold italics, I added the pics:
Friday, February 5, 2016
Peary Court inspection plan stalls
BY GWEN FILOSA Citizen Staff
gfilosa@keysnews.com
The company that agreed to inspect some of the 157 units at Peary Court for $30,000 won’t do it for half the money, city staff said Thursday.
City leaders approved the sample inspection in advance of the March 15 referendum, when voters will decide whether Key West moves to buy Peary Court for up to $55 million as a way to preserve workforce housing.
But the city commission cut the proposed $30,000 cost in half after staff recommended hiring MTCI Private Provider Services, of Homestead, to inspect 19 units.
It turns out, that doesn’t add up to being worthwhile to MTCI.
“They’re not going to be able to do it for $15,000,” said City Manager Jim Scholl, who added his staff is still considering options and may be able to find another firm or pitch in themselves.
“We’ll either figure out a reduced scope of work and still provide the information or we’ll just have to not do it, potentially,” Scholl said. “Between staff and hired professionals, we may be able to do that.”
Jim, you know the mayor and city commissioners promised the public Peary Court would be inspected in time for the voters to get the results of the inspection before they went to the polls. A $15,000 inspection for 157 2-bedroom units is a farce, even if it is done. The promise has been broken. Shame, shame, shame.
White Street Partners paid $35 million for the property in 2013 with plans to demolish the former Navy housing and replace it with luxury homes. But they gave up after failing to win approval from the Historic Architectural Review Commission and decided to become landlords.
The two-bedroom town homes, which have car ports, rent for about $2,400 a month.
The ballot question asks if the city should buy Peary Court, paying off a mortgage solely off the rent payments generated. City leaders plan to tap $10 million from county land authority funds and borrow about $46 million — the extra million breaking down to $500,000 for closing costs and another $500,000 as a reserve.
The city’s requests for financing were rejected by several local banks. One bank offered financing, if the city went on the line guaranteeing repayment of the mortgage. The referendum wording and the referendum enabling ordinance to not allow the city to guarantee the financing. What a shame local banks had to reject what the city leaders never should have put on the ballot.
Paul Revere forwarded yesterday what another blogger chimed in on Peary Court:
https://therealpoop.org/2016/02/04/peary-court-resource-suck/
Peary Court – Resource Suck?
At this point, most reasonable people would agree that the purchase of Peary Court doesn’t make a whole lot of sense. What we’re being told is that the City of Key West plans to buy the property for $55 million in order to preserve “workforce housing”. That plan raises a lot of questions.
- The property was purchased for $35 million two years ago by the current owner, Peary Court Holdings. The appraised value is $55 million. So while the property may be “worth” $55 million to somebody, is it worth it to the city for it’s intended purpose?
- Certain folks in Key West are so excited about this purchase that they formed a PAC called Housing First. It’s oddly specific. Obviously supporting affordable housing makes sense, but this PAC is hyper-focused on the purchase of Peary Court.
- The purchase will create no new affordable/work-force housing. The city actually plans to keep the rents about where they are and, according to their pro forma, they will increase them substantially over time. They have to in order to make the payments.
- Only one bank responded to Key West’s Request for Proposal (RFP) for financing the purchase. Key West wants to cover the payments with rental income only. The bank wanted the taxpayers to guarantee the loan. The bank is getting some flak for that, but the bank is a business. If they don’t make money, they cease to exist. The pro forma doesn’t provide much comfort that the city would actually be able to make the payments on rent alone. The bank’s position is definitely understandable.
- Peary Court is not price-competitive when compared to similar apartment housing in the area. A discussion about this can be found here. There is further detail in the appraisal.
Basically if the city buys Peary Court, the current owner would pocket $20 million from the taxpayers. The rents would remain about where they are in the short term, and increase over time to cover the debt service. So there’s zero benefit in terms of creatingadditional affordable/workforce housing units.
At best this purchase might preserve a few units, and even that benefit is speculative. Who knows? We might see a real estate market slump. We might see a downturn in the economy that affects the tourism industry. This purchase commits the taxpayers of Key West to long-term payments regardless of changes in demand for this type of housing. It’s unclear what exactly would happen if the city were unable to meet its rental income targets for whatever reason.
According to Key West’s pro forma, about $46 million of the purchase would be financed with a bank loan. The debt service would be covered by rent. What about the other $10 million or so?
That would come from the Tourist Impact Tax, I talked a little about that here in terms of Key Largo’s contribution. We always hear that the Keys is an Area of Critical State Concern (ACSC), but it is actually two. Key West is one ACSC, and the rest of the Keys are another. In any case, ACSC are allowed to levy the Tourist Impact Tax (TIMP). As of now, Monroe County is the only one levying the tax. (They never met a tax they didn’t like.)
Here are the authorized uses from the 2015 Local Government Financial Information Handbook, page 260.
The proceeds are distributed for the following uses.
1. Fifty percent is transferred to the land authority to be used in accordance with s. 380.0666, F.S., in the area of critical state concern for which the revenue is generated. No more than 5 percent may be used for administration and other costs related to the exercise of such powers.
2. Fifty percent is distributed to the county’s governing body where the revenue was generated. Such proceeds are used to offset the loss of ad valorem taxes due to property acquisitions.
Very recently, there was a change made to the law to allow the money to be used for affordable housing. Here is that language.
General Law Amendments:
Chapter 2015-30, L.O.F., (CS/CS/SB 1216) amends ss. 125.0108 and 380.0666, F.S., to allow the land authority to contribute 50 percent of the tax proceeds to its most populous city or the housing authority of such municipality at the request of the municipality’s governing body for the purpose of funding the construction, redevelopment, or preservation of affordable housing in the area of critical state concern within the municipality. These changes became effective on May 15, 2015.
I don’t necessarily disagree with this change. As it was before, Key West was contributing to the tax but really wasn’t able to benefit from it. There’s little conservation land to purchase in Key West, so why not use the money for affordable housing? But less than a year after this change was made, Key West officials are chomping at the bit to blow all $10 million of the TIMP on Peary Court plus another $46 million besides. Weird. It’s almost as if the change was made specifically to enable the purchase.
If you look at the Land Authority’s page on the county’s website, you will find an adopted budget for FY 2016. You’ll see a line item for Fund Balance Forward – TIMP Key West ACSC in the amount of $10,409,380. That’s where that additional $10 million is coming from.
There’s another line item above that: Revenues – TIMP Key West ACSC in the amount of $1,805,000. That’s what the county expects to collect this year. The prior year, it was about $1.5 million. In other words it took a while to accumulate $10 million and the City of Key West intends to poof it away with the swish of a pen.
It’s hard to see how 157 units is really going to make a dent in the affordable housing issue, especially if that 157 units takes every penny you’ve got and a lot more besides.
One Response to Peary Court – Resource Suck?
Moving laterally …
My lady Kari, above, who lives on the streets of Key West, called me just before 1 a.m. this morning from a bus shelter where she had sought refuge from a howling wind and rain storm reflected in this radar image I copied a few minutes later.
Kari said she had gotten soaked and was cold and could not go anywhere with her bicycle, loaded with her belongings, to get inside where it is warm, because of the very strong winds - 40 m.p.h. I said I was so sorry, I had not seen this thing on the radar last night, it was not yet showing there. Kari griped about me having a warm, dry, comfy place to sleep, while she was out there in that horrible storm. I felt like a worthless piece of shit for not being able to help her live inside. I wondered what kind of city would force a woman to live outside and not let her stay in its homeless shelter at night? Key West is the kind of city that would do that, and not just to Kari. Key West’s official philosophy below needs rethinking.
I extend the same invitation to the juvenile witches of Westwick, and their big brother Mike Tolbert, who manages KOTS, the city’s homeless shelter,
and to Mike’s bosses at Southern Assistance Homeless League, which the city pays to run KOTS. Below Kari’s golf pencil on paper jail art is the discussion I had with the juvenile witches yesterday on the Facebook thread they brought me into a few days ago, as reported in yesterday’s and the day before yesterday’s posts at goodmorningkeywest.com.
Sloan Bashinsky what the world needs now is a whole lot less dickheads and a whole lot more world class cunts – Key West gynecology clinic http://goodmorningkeywest.com/?p=35244
Jay Stephens I just posted your version of last nights conversation against the whole real one on Key west’s wall of shame . Enjoy knowing that the differences will be obvious . And they will see how you play your game .
Bobbie MeChele Morrison I havent looked at it but Jaythe,,,,was some left out?
Sloan Bashinsky I looked through yesterday’s conversations at this FB thread several times this morning, trying to make sure I had all of the various comments open and readable, before I selected all and copied the entire thread showing on my laptop screen and pasted it into today’s post at goodmorningkeywest.com.
Jay Stephens Well So did I . And the comments that were left out are in mine !
Jay Stephens Your on the KEYWEST WALL OF SHAME!
Sloan Bashinsky what of yours did Ieave out, Jay? You wrote heaps, I tried to find it all, get it all opened,and include it today.
Jay Stephens Go read about yourself in key west hall of shame . I have found some interesting articles on you .
Sloan Bashinsky Jay Stephens posted it where, Jay? Please provide the link and point me to what you wrote, which i did not include in today’s post, I want to see if for myself.
Sloan Bashinsky Beyond that, thanks for any additional exposure in KW/Florida Keys …
Sloan Bashinsky I’d like to see links to the interesting articles, maybe I’ve not read them, maybe I have. Plenty of people have slammed me on local websites. It goes with the job description. Glad you found more company.
Sloan Bashinsky Or, just copy it from this FB thread, which I did not post of yours today, and drop it into a comment in this thread.
Jay Stephens You just keep lying dude , And If you want the threads of where I am finding these articles , Just google yourself !
Jay Stephens You can read your version of our conversation and the full uncut one both on Key west wall of shame .
Sloan Bashinsky I asked you to provide a wall of shame link to your post there. You did not. I asked you to copy yours. I left out and pasted it into this FB thread. You did not. I went twice now to key west wall of shame, i don’t know where to look there for what you posted there. Nothing comes up about this discussion when I Google key west wall of shame.
Bobbie MeChele Morrison I am off this,,,
Jay Stephens Your blocked from the page , nothing I can do about that .They just don’t want you on their page ! I have nothing to do with that . And as far as pasting stuff to this wall , like I said I got all my info by just goggling you .
Sloan Bashinsky I’m blocked from key west wall of shame, or you are blocked? As far as I recall, II never tried to post anything there. I don’t recall ever going there and reading anything on it. Interesting, I was unable to get into this FB thread, after the initial discussion. Now you say I’m blocked out of some page you did not identify. I am wondering, if I did leave something of yours out, and was important, you surely would have posted it into this FB discussion. You still can do that.
Jay Stephens Your blocked
Sloan Bashinsky What came back to you? You sent it to them, I didn’t. What did they tell you?
Jay Stephens Your not woth it , I am about to block you also if you don’t shut up . Sick of you and I am giving you no info .
Sloan Bashinsky Then how do I know I left some of yours out? How do the other people in this thread know?
Sloan Bashinsky Bobbie MeChele Morrison Vaya con Dios
Jay Stephens Sloan Bashinsky I can read thats how I know . Your version and the full version are what I posted so people can see the games you play . Happy now .
Sloan Bashinsky No games. If I didn’t publish today something you posted into this thread yesterday, I need to see what it is so I can publish it in tomorrow’s post as a correction to today’s post. I repeatedly asked you to show me what it is of yours I left out of my post today, You didn’t show it to me. Based on what you wrote here today, the KW wall of shame would not let you post your submission there, so you were blocked by them. You come across as a seriously angry woman, with a big streak of paranoia and spinning a reality that suits you. I found myself wondering today, what awful things happened to you when you were young, and perhaps later, that damaged your soul so badly/ I’m not asking for a response, just letting you know I look past behavior to what fuels it. I used to do that a lot with people who came to me seeking help, after they were not able to get it anywhere else. I don’t do that work anymore, and I am not suggesting I do it with you. You need help, though, and a lot of it. Perhaps the angels will send it to you in some way or another. Otherwise, your temper and fury may very well consume you, break out in a serious illness, injury, or psychic break. If you know a real shaman, and I don’t mean someone who went to South America and studied a while under a tribal shaman and then returned to America and started holding him/herself out as s shaman. A real shaman might be able to help you in the other realms, which will bleed into your human being and life. But that won’t be enough. You need to be steered, trained and disciplined, and based on the many experiences I have had with people who had gurus, spiritual teachers, ministers, psychotherapists, psychiatrists, new age healers, light healers, I don’t think that is the best way for you to go. The only way I know that reliably works, although it’s a real stretch usually, is to be taken over by angels and they have their way with you until whenever, perhaps, or probably, for the rest of your life. Angels see everything about you, and they don’t charge money for their help, although they can extract plenty in return. I imagine if you ask them to lead and teach and heal and change you, you will get a response. But if you go down that road, do so knowing you no longer will be in charge, although it might be quite a while before you accept that and give into it. As Jesus said in the Gospels, not his will, but God’s will be done.
Jay Stephens No , I don’t know who you think you are but really just get bent !
Jay Stephens And I and my posts are still on the key west wall of shame for all to read .
Jay Stephens I councel people and your a fool .
Sloan Bashinsky I’m someone who’s been places on this world and in spirit realms and who has seen and heard things you cannot yet imagine. You came to me like a moth to flame. You are still circling. Send me the link to what you posted at KW wall of shame, so i can let my readers know they can use that link to see it themselves. Put that link into this FB thread, so the people in it can see the link and see for themselves what you say I did not use, which you posted here yesterday, in what I posted today. You are seriously gamey. As is Mike Tolbert. I hear about that a lot from people who stay at KOTS, and who have stayed there. An old Sufi saying comes to mind,which I often think of: Let God kill him who himself does not know but presumes to show others the way to the door of His kingdom. Ciao
Jay Stephens thats why you keep posting on bobbies thread cause I am circling you . GO AWAY LITTLE MAN !!!
Sloan Bashinsky No, I am merely responding to what you, and Bobbie, included me in. How it went after that, you should have anticipated, if you had, in fact, read up on me and if you have, in fact, spiritual training and testing under your belt, which you do not appear to have. You yourself said in one of your comments, didn’t you,that you are not a trained witch.
Jay Stephens Some of us are born with power , Now why don’t you stop bothering me ? Or is your life that empty ?
Sloan Bashinsky Kari was born with power you cannot imagine, but she never received training and she got really messed up. You keep writing to me, I keep responding. You can stop that by not writing to me. I was minding my own business when you and Bobbie took out after me. Did Mike Tolbert put you two up to it? Wouldn’t surprise me. He seems to like to send people to fight for him, get even for him. He tried that with Kari’s probation officer. He sent someone to rape Kari. Big he man. This will never work out to suit you, coming at me as you have. It might not turn out to suit Mike, either. You should have thought about that before you went after me. You should have thought about it for Mike’s sake, as should have Bobbie. Key West is a seriously conservative town when it comes to things like witches. It is said to have more churches per capita than any other city. I really do hope what you submitted to the wall of shame is up and visible. I want as many people as possible to read it, and the parts about Mike. I could care less what they think about me. Kari’s record is public information, which I published several times before the juvenile witches came braying.
Jay Stephens liar !
Sloan Bashinsky You shat and sat it in, Jay. You and Bobbie painted Mike in ways I never could have done it, which got spread beyond Facebook to my website, which is well known here. Then, you spread it to someone else’s website. Thank you,
Today, the entire Facebook thread into which the juvenile witches brought me is gone, vanished, which does not surprise me. I could suppose their friends in HELL steered the big storm into Key West to clobber Kari and every homeless person living on the city’s streets, who cannot get into KOTS. If so, nice touch. Awful karma, though. Awful. Bon appetit.
Here’s a link and short teaser for my article in today’s every Friday online edition of Key West the Newspaper (www.thebluepaper.com).
An Insider’s View of Being Homeless in Key West
by Sloan Bashinsky…….
When Naja and Arnaud Girard asked me the other day if I was interested in writing articles about homelessness for the blue paper, I said I’d be happy to do that. Why not? I was homeless off and on in Key West from late 2000-late 2005, and I’ve been homeless in Key West since March of last year, 2015. I spent a lot of nights at KOTs, the city’s homeless shelter, since last March. I ate a lot of meals in the soup kitchen, since last March. I’ve hung out a lot in city parks, since last March. Maybe that gave me a second PhD in Being Homeless in Key West …
******************
Toward the end of the article are comments painting KOTS as a center for awful contagious diseases out of control, which the local health department should shut down and leave all of the city’s homeless people living on its streets in whatever weather, as Kari and other homeless people banned from KOTS did last night, under unceasing threat of being accosted by city police and told to leave the bus stop shelter in the driving rain storm, she’s not supposed to be there, and tough shit.
I know for a fact the angels have Kari living on the streets of Key West, calling the city out in God’s Court, while she is being refined to serve God in other ways.
I suppose that’s Divine Poetry, but Kari and I call it HELL..
sloanbashinsky@outlook.com
Jack off 
I don’t know why the local mullet wrappers and news outlets still are not pointing out that the Peary Court developers’ profit, by their own calculations, is at least $32 million in the deal: $55 million, less $35 million, plus the 48 free “affordable” building rights the city GAVE the developers, which the developers valued at $12 million during the “negotiations”. All according to Key West Housing Authority Director Manny Costillo at City Commissioner Jimmy Weekley’s Peary Court purchase town hall meeting. Manny said he told the developers the city could not earn rent off of the 48 building rights. So the developers said, okay, they keep the 48 building rights and build 48 rental dwellings at Peary Court, and the city can have the rest of Peary Court for $55 million. The city’s crack negotiating team, consisting of Costillo, Jimmy Weekley and City Manager Jim Scholl, say okay. The city’s crack negotiating team agrees to the developers’ asking price for the existing 157 units, and the 3 units which had burned and could be rebuilt. The developers keep the 48 building rights, which are “called” affordable building rights, which they intend to use to build 48 new units on the Peary Court land, whether the referendum passes or not. It came out during the 2nd most previous city commission meeting that the 48 building rights effective are for 48 new MARKET RATE units. Also during that commission meeting, it was explained by Donna Bosold, representing the developers, with her husband and business partner Jim Hendrick sitting beside her in the audience before she went to the speaker station, that the new 48 units would be built in clusters throughout Peary Court. That also was explained by City Commissioner Margaret Romero. Until then, the mayor and other city commissioners and the public had thought the 48 new units would be built on 2-plus acres inside of Peary Court, not scattered all throughout it. Until then, Commissioner Weekley had maintained Jim Hendrick was not representing the developers. In fact, Hendrick represented the developers before the city’s Historical Architectural Review Commission (HARC), and he has represented them ever since. In fact, anyone who does business with someone represented by Jim Hendrick gets fleeced. He’s that smart, clever and good at what he does. Michael Milier, a local architect, lives in one of the Peary Court units. Miller sits on the HARC board. He was chairman of the HARC board when Jim Hendrick represented the developers before HARC. Miller told me the developers did not maintain the Peary Court units after purchasing them, the buildings have mold, and the $55 million price is too high. The buildings are mostly wood frame and plywood, which termites love. Termites are a problem everywhere in Key West. Manny Costillo said at public meetings that all of the appliances in the units probably need replacing. I suppose that’s stoves, refrigerators, dishwashers, washers and dryers, air conditioning units, etc. For $55 million, the city at the very least should have gotten all of Peary Court, including the 48 building rights it had GIVEN the developers.