Condo board president says ‘No” to $100 million bond issue

Dear condo presidents and boards,

The Village of Key Biscayne has ignored reasonable requests for a one-village unified stormwater system, despite years of meetings and articles. Instead, the council approved a doubling of the stormwater fee last fall without any consideration of the impact on condo budgets. Even though we pay 52% of taxes and are 63% of registered voters. Now they want to put in jeopardy millions of dollars in critical landscape by micromanaging how we water our precious tropical landscapes, without any consultation. It is as if we didn’t exist.

It is neither in the interests of good stormwater management, nor fair to more than half of village tax-payers, that the village not provide one maintenance service for all properties and roads on the island, whether commercial, condo or private. Until such time as the council recognizes equity in the relationship between all stakeholders in our village, as a condo dweller I can not support open funding through a $100 million General Obligation Bond issue.

Before approving financing, projects must be clearly defined to tax-payers. That’s how we are required to do it in every condo association. The bond issue is not just a method of payment. It is an invitation to spend on projects yet to be defined. As is typical in all government entities, if you allocate the funds, they are guaranteed to be spent, but not necessarily on how we thought or was originally proposed. You can take that to the bank.

Granted that long-term financing through capital markets is the correct way to fund infrastructure projects. I helped obtain $83 million in capital markets funding for the Reina Beatrix International Airport in Aruba through placing the first airport revenue bond ever issued outside the U.S. We have ample time to secure such funding -- AFTER projects are defined, AFTER stakeholder buyin, and AFTER the issues of inequities in services are finally resolved in good faith.

Approving the bond issue on November 3 will almost guarantee that our condo issues will continue to be ignored. No one is opposed to needed infrastructure projects, nor obtaining the best possible financing. We have long promoted a unified resilient stormwater system. It is the village that has ignored those pleas from the KBCPC.

Please join me in voting NO on the $100 million bond referendum. I also urge every condo board to join Casa Del Mar in passing resolutions in opposition. We need change November 3 to send a message that we must work together as one village with all stakeholders and residents in equity.

Antonio Camejo

President, KBCPC.

Editor’s Note: This letter was sent to the Key Biscayne Condominium Presidents by the Key Biscayne Condo-Presidents Council President and shared with Islander News for publication.