On Tuesday, November 3, 2020 residents of the Village of Key Biscayne will have the opportunity to vote on whether the Village Council will be able to issue general obligation bonds when the time comes to fund resiliency projects.
This vote is NOT an approval to borrow any money. This vote will NOT result in the issuance of any bonds.
A YES vote simply gives our Village Council the ability to use general obligation bonds (up to the debt cap) to fund planned resiliency projects at the most favorable financing costs and terms.
A YES vote will help us build a resilient future for the Village of Key Biscayne and strengthen our Island Paradise against current and future climate-related threats for both condos and homes. We are one island, one community.
The Village has identified projects to address Key Biscayne’s sustainability and resiliency. These include:
- Complete Streets to address flooding, water retention and stormwater;
- Beach and shoreline protection; and
- Hardening for Hurricanes.
This referendum is NOT “blank check” for council or the Village administration to spend as they wish. Rather, the GO Bond referendum is a very preliminary step that gives Council another financing option when time comes to fund the projects. Each project funded by GO Bonds would need to be approved by a supermajority of the sittng council – 5 out of 7 members. Each of us will have the opportunity for input at each and every stage.
Voting YES on the GO Bond referendum will give the Council access to the best interest rates and payment terms and is the fiscally smart approach to fund the planned infrastructure projects.
For more information please visit our website at www.ProtectKBParadise.org. We have tried to answer your questions and address your concerns. You can also reach out to us directly:
- Jennifer Stearns Buttrick: jsbuttrick@bellsouth.net
- Luis de la Cruz: ldelacruz@delacruzcutler.com
- Alan Fein: afein@stearnsweaver.com
- Dr. Jorge Mendia: jmendiamd@gmail.com
Download the PDF of this information here.