Belleair Shore Board Encouraged by Report On Investment Fund
By Leo Coughlin
BELLEAIR BLUFFS – Mayor John Robertson was buoyant over the report given him and the Town Commission last week from a representative from the firm now operating the state’s local government investment funds.
“We’re more comfortable now,” Robertson said, referring to the report given by Mark Bloss of Federated Management which is home based in Pittsburgh.
“He answered everything and was very professional,” Robertson said.
There had been concern because the state fund got into severe difficulty in 2007 and funds belonging to cities were frozen for a time.
Robertson pointed out that Bloss reported that his firm has a full staff working on the state fund while in the old days only one person, a state employee, did all the work.
Belleair Shore has $340,000 invested in the fund. A small sum, obviously, relative to the holdings of other cities, but significant for this town a mile long and house lot deep with about 100 residents.
“We are chiefly interested in preserving our money – it is a contingency fund – against a disaster like a hurricane or major sea storm,” Robertson said.
In other business, the commission reviewed the new ordinance dealing with the building code which was devised by John Elias, the town attorney.
“We’re going to do more tweaking on it,” Robertson said. “We want to make absolutely sure that the applicant reads and understands the ordinance as well as county and state requirements.”
The ordinance is similar to one in effect in neighboring Belleair Beach and requires that actual building begin within six months of the permit being granted. This conforms exactly with the Florida building code.
Also required in the new town ordinance is that the construction be completed within 24 months with exceptions for cause.
Town residents were reminded that under a new county ordinance, irrigation by customers in the town is limited to Tuesdays, Thursdays and Saturdays. There can be no watering between 10 a.m. and 4 p.m. This rule expires June 30 but will be reinstated from October 1 to November 30.
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