In this long (oh dear) but final (thank goodness) installment of the series—one that I’m sure comes in the midst of considerable subject-fatigue among many of you—we’ll look at KFC’s last and, in my view, most cynical argument against reducing the millage rate: the “too regressive argument.”
Your 4-part treatise on the maximum millage rate is like a Lady Whistledown gossip letter. However, unlike the anonymous Lady Whistledown who criticizes the Queen, you anonymously criticize anyone who is critical of Mayor Lago’s unfavorable minority positions. By a super-majority vote of 4-1, the Commission rejected Mayor Lago’s position (and your treatise) and agreed to keep the maximum millage rate the same since 2016. I believe this vote reflects the position of Coral Gables residents because the cost of a $2,600,000 budget reduction to Coral Gables residents significantly exceeds the de minimis benefit that they would receive. The proposed 2% property tax reduction to Agave Plaza Trustee LLC (the Plaza with a proposed $41,218 tax savings) or HGIT Coral Gables LLC (a/k/a Hines Global Income Trust that is a Houston-based global real estate fund that purchased Life Time Living at Gables Station in 2022 for $386 million with a proposed $29,410 tax savings) is meaningless to their annual budget. You want the City to reduce its budget (and residents to pay such cost with a City that has less money) in order to give wealthy real estate owners a tax cut! Why? It is a cost of doing business. The millage rate has remained the same since they purchased property in Coral Gables.
Your treatise includes numerous falsities. For example, the City did not extend a “significant financial benefit” to a “local burger joint” or to a “local beer hall”. Resolution 2024-153 (unanimously approved by the Commission) references 2 market rent analyses for a “local burger joint” with market rent paid by the tenant. Resolution 2024-31 (also unanimously approved by the Commission) provides that the renewal of an existing lease with a “local beer hall” at $50 per square foot is market rent. Note that a tenant with adjacent space to the local beer hall is paying only $31 per square foot for a 15 year lease term with 2 separate 5 year renewal options (Resolution 2022-06). Its lease rate will only be $47.06 per square foot in year 15 (2037), and the rent increase for the renewal option cannot exceed 8% of its then current rent – that tenant’s rent will likely always be below market for 25 years. And that lease is currently in default per Article XXIII.A.2 and per XXIII.A.6(b) allowing the City to seek market rent – I provide references to make your review easier.
The residents will benefit and enjoy the re-opening of the local burger joint after a protracted 31 month renovation and continue to benefit and enjoy the local beer hall that the former City Manager and certain Commissioners threatened to close.
Part 4 of your treatise is based on ad hominem fallacy attacks. A “fallacy” is a failure in reasoning which renders an argument invalid – assuming that you were making an argument. And if you address the argument rather than the person making the argument, your treatise becomes much shorter and more readable. It is time to move on and pick a new perceived injustice – hopefully one that a majority of the residents and Commissioners support rather than just a personal grievance of Mayor Lago. If you would like to discuss your concept of reducing the City budget to give money to wealthy real estate owners, I will be at the Coral Gables Youth Center on Tuesday and Thursday afternoons playing pickleball. I look forward to meeting you in person.
Oh my dear Mr. Wells, when are you just going to announce your candidacy for mayor? We're all waiting for it! You really don't seem to get it... Reducing the millage rate isn't about you or about politics. It's about demonstrating fiscal responsibility.
I'm curious... When are YOU not critical of Mayor Lago? Your little trio raised their own salaries and you didn't bat an eye. But when KFC wrongfully terminated Mr. Iglesias, you didn't hesitate to take a shot at his severance, which he so rightfully deserves. If Mr. Iglesias was so unworthy of his salary and severance, then Mr. Rojas should be doing the job for free. You could very easily build a few pickleball courts with the $300,000 you'd save from his salary. You avoid discussing the clear differences in talent between Mr. Iglesias and Mr. Rojas (who probably didn't even know what a millage rate was before this) but for some reason Mr. Rojas deserves the salary more. Tell us all how that makes sense. Wait, wait, wait... Is Mr. Rojas your puppet?!? Oh my, it's all making sense now. For my next comment, I'll tell the story of "The Security Guard and the Frustrated Puppeteer." You can't use that title. I'm copyrighting it.
Your campaign platform is really coming together nicely. What's your slogan going to be? You seem to want to run the City like a charity. Little piece of advise for you: ramble less, speak up, slow down, quit mumbling, and smile more. Anyway... How about a game of tennis?
Your 4-part treatise on the maximum millage rate is like a Lady Whistledown gossip letter. However, unlike the anonymous Lady Whistledown who criticizes the Queen, you anonymously criticize anyone who is critical of Mayor Lago’s unfavorable minority positions. By a super-majority vote of 4-1, the Commission rejected Mayor Lago’s position (and your treatise) and agreed to keep the maximum millage rate the same since 2016. I believe this vote reflects the position of Coral Gables residents because the cost of a $2,600,000 budget reduction to Coral Gables residents significantly exceeds the de minimis benefit that they would receive. The proposed 2% property tax reduction to Agave Plaza Trustee LLC (the Plaza with a proposed $41,218 tax savings) or HGIT Coral Gables LLC (a/k/a Hines Global Income Trust that is a Houston-based global real estate fund that purchased Life Time Living at Gables Station in 2022 for $386 million with a proposed $29,410 tax savings) is meaningless to their annual budget. You want the City to reduce its budget (and residents to pay such cost with a City that has less money) in order to give wealthy real estate owners a tax cut! Why? It is a cost of doing business. The millage rate has remained the same since they purchased property in Coral Gables.
Your treatise includes numerous falsities. For example, the City did not extend a “significant financial benefit” to a “local burger joint” or to a “local beer hall”. Resolution 2024-153 (unanimously approved by the Commission) references 2 market rent analyses for a “local burger joint” with market rent paid by the tenant. Resolution 2024-31 (also unanimously approved by the Commission) provides that the renewal of an existing lease with a “local beer hall” at $50 per square foot is market rent. Note that a tenant with adjacent space to the local beer hall is paying only $31 per square foot for a 15 year lease term with 2 separate 5 year renewal options (Resolution 2022-06). Its lease rate will only be $47.06 per square foot in year 15 (2037), and the rent increase for the renewal option cannot exceed 8% of its then current rent – that tenant’s rent will likely always be below market for 25 years. And that lease is currently in default per Article XXIII.A.2 and per XXIII.A.6(b) allowing the City to seek market rent – I provide references to make your review easier.
The residents will benefit and enjoy the re-opening of the local burger joint after a protracted 31 month renovation and continue to benefit and enjoy the local beer hall that the former City Manager and certain Commissioners threatened to close.
Part 4 of your treatise is based on ad hominem fallacy attacks. A “fallacy” is a failure in reasoning which renders an argument invalid – assuming that you were making an argument. And if you address the argument rather than the person making the argument, your treatise becomes much shorter and more readable. It is time to move on and pick a new perceived injustice – hopefully one that a majority of the residents and Commissioners support rather than just a personal grievance of Mayor Lago. If you would like to discuss your concept of reducing the City budget to give money to wealthy real estate owners, I will be at the Coral Gables Youth Center on Tuesday and Thursday afternoons playing pickleball. I look forward to meeting you in person.
Oh my dear Mr. Wells, when are you just going to announce your candidacy for mayor? We're all waiting for it! You really don't seem to get it... Reducing the millage rate isn't about you or about politics. It's about demonstrating fiscal responsibility.
I'm curious... When are YOU not critical of Mayor Lago? Your little trio raised their own salaries and you didn't bat an eye. But when KFC wrongfully terminated Mr. Iglesias, you didn't hesitate to take a shot at his severance, which he so rightfully deserves. If Mr. Iglesias was so unworthy of his salary and severance, then Mr. Rojas should be doing the job for free. You could very easily build a few pickleball courts with the $300,000 you'd save from his salary. You avoid discussing the clear differences in talent between Mr. Iglesias and Mr. Rojas (who probably didn't even know what a millage rate was before this) but for some reason Mr. Rojas deserves the salary more. Tell us all how that makes sense. Wait, wait, wait... Is Mr. Rojas your puppet?!? Oh my, it's all making sense now. For my next comment, I'll tell the story of "The Security Guard and the Frustrated Puppeteer." You can't use that title. I'm copyrighting it.
Your campaign platform is really coming together nicely. What's your slogan going to be? You seem to want to run the City like a charity. Little piece of advise for you: ramble less, speak up, slow down, quit mumbling, and smile more. Anyway... How about a game of tennis?