VOTE411 Voter Guide

Ballot LanguageIn order to encourage private investment in and redevelopment of City-owned property and reduce the City’s maintenance costs of City facilities, shall Article II, Section 4 of the City of Lake Worth Beach Charter be amended to allow City-owned property West of A1A that is restricted in the Charter to be leased for up to 99 years??SynopsisThis referendum is aimed at encouraging investment for redevelopment on City-owned property west of A1A on the barrier island and in the City’s downtown, in the hope of bringing in new revenue streams.The initiative would allow leases for up to 99 years for City-owned property west of A1A on the barrier island and in downtown Lake Worth Beach. Currently, the City Charter limits such leases to less than 20 years in those areas, unless approved by a majority vote of Lake Worth Beach citizens, a time frame officials say discourages developers from participating. Major developers often require longer lease terms to secure bank financing for projects.Yes - For the Measure Means:If voters accept the referendum, the City would be able to lease property it owns in these areas for private redevelopment for up to 99 years without the currently required citizen vote. It would continue to own the property, but would collect lease payments as part of a public-private partnership.No - Against the Measure Means:If voters reject the referendum, the City would retain the current Charter language, which says any lease of City-owned property in these areas would remain at less than 20 years unless approved by a citizen vote.