Lakewood Village Board President Says “We Don’t Want To Do Things Cheap”

I missed the Lakewood Planning and Zoning Commission meeting Monday on the details of the proposed RedTail Golf Course Clubhouse, but the Northwest Herald did not.

Lakewood Village President David Stavropoulos

The most significant thing said at the meeting, as reported by the NWH, was from new Village President David Stavropoulos:

“We don’t want to do things cheap, and we want people to want to go to RedTail.” 

Yet despite telling Lakewood homeowners he would tell them how this multi-million RedTail Golf Course Clubhouse would be financed, he has not done so yet.

If the Clubhouse is not going to be cheap, that’s even more reason not to keep the financing mechanism

As I have pointed out earlier, Alternative Revenue Bonds, which can be issued without a referendum, are toxic.

Even newcomers, as most Village Board members are, know the ill will that resulted from an early 1990’s Village Board decision to issue them.

Although proimses were made that paying off the debt to buy the golf course would not “cost a dime,” it cost homeowners thousands of dollars because the golf course did not produce a profit sufficient to meet the debt payments.

As I was leaving the meeting at the Lutheran Church at which many Lakewood residents made it clear they didn’t want their taxes raised to finance a new and bigger clubhouse, I pointed out to our Village President that the only alternative I could see to finance it was Debt Certificates.

Debt Certificates, which sounding less harmful that Alternative Revenue Bonds, will result in a similar increase in real estate taxes for homeowners if the golf course fails to spin off enough revenue to finance the mandated by law payments.


Comments

Lakewood Village Board President Says “We Don’t Want To Do Things Cheap” — 9 Comments

  1. A place nice enough, that he and his pals can stare at Hamm’s animated beer sign, for eight hours straight.

  2. Of course not.

    Stavropoulos Motto:

    “Stick it to the Taxpayer Every Time”

  3. Yep look at the big money police vehicles!!!

    Maybe look at a big leaf vac so the village can pickup leaves like other villages do!

    But that would be helping taxpayers!

    Get a fn clue lakewood!

  4. Right because the taxpayers are footing the bill!

    I hear they also have the general manager lined up.

    That’s really nerve.

    Citizens need to take over that board or sit there and be robbed!

  5. It’s easy to do things expensive when it’s not your money being spent.

    It’s called OPM

  6. Face it, Lakewood. You f*cked up.

    You bought a golf course.

    Now that you own it, there’s a fiduciary duty to maintain it, lest all remaining underlying value is lost.

  7. When you are in a hole, stop digging.

    Lakewood could have dumped the course for .50 cents on the dollar to a private investor and been done with our headache.

    The players would have had to pay more per round, but that is what private companies do, they make money or at least try to, they do not spend our money.

    The new Lakewood President sounded like he knew what he was doing when he ran for the office, but maybe we would have been better off with the two who were dubbed, Popeye and Olive Oyle?

  8. People bitch about their Homeowner Associations.

    Yet, if Lakewood was an Association, 75-80% of the owners would have had to approve the purchase in writing.

    Stuff like that never happens.

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