Form 8484 Port St. Lucie Florida 2017-2024

Form 8484 Port St. Lucie Florida: What You Should Know

The City of Port St. Lucie was left with about 20 million in damages from the storm. The city's property and sales tax revenue decreased by a whopping  150% during the months following the storm, which resulted in many city employees being laid off. The city was also  shortly behind in building permit issuance as construction materials were in short supply and many homes were not rebuilt in  the time they were built. There was also an absence of qualified people to build and supervise the work as many had been  killed or injured during the storm or were unavailable, making it extremely difficult for the city to do it themselves. Since the county had no  resources at all to deal with it all, many of the buildings destroyed or damaged had to be rebuilt by Port St. Lucie residents.  This  included many of the city's most cherished landmarks and structures. These include the iconic city hall, City Hall Plaza,  city hall library, the county jail, Municipal Building, the public schools, and some historic buildings  that the city considered particularly cherished. The city began to rebuild the buildings themselves; some were demolished  and others were reconstructed. By 2000, the city had rebuilt over 100 buildings, and they were starting to look  like a vibrant city again. The only problem was that none of the structures that were rebuilt were of any value to the city. The  building costs for some structures weren't even enough to cover the actual cost of renovation. Many of the  buildings still hadn't been paid for. It got to the point where the city was working on a bond issue to  raise funds for the construction of an additional 200 buildings and that was just a portion of the projects that were  needed to rebuild the city. The bond issue would cost 1.5 to 1.7 billion that was being paid for by borrowing money from  the state tax revenue. Because the city was in a cash crunch, most of the funds that were raised from  the bond issue would go into the general fund, which was a small part of the city's yearly revenue. That money,  however, wasn't going to be enough to rebuild all the city's buildings or even fix most of them.

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