Download the Longboat Key Club and Resort's press statement here.
Longboat Key Commissioner Gene Jaleski submitted into the public record last week a pro-forma statement dated August 2006 from Loeb Partners Realty that describes the Longboat Key Club and Resort’s property and lists some financial operation data about the club’s operations.
Two charts in the pro-forma show that from 1999 to 2006, the club has generated average annual dues of $8 million and average annual initiation fees for new members of $1.3 million.
The pro-forma also includes similar information about Galena, Ill.-based Eagle Ridge Resort & Spa, which is another one of Loeb’s resort properties.
Jaleski said a man dropped the information off at his home in the middle of the night, and he felt obligated to submit it to Town Hall, which instantly made the information part of the public record for the club’s Islandside renovation-and-expansion project.
Key Club officials say the pro-forma "pertaining to Eagle Ridge was developed to assist in marketing the hotel because it has been openly for sale for a number of years." And the "pro-forma pertaining to the Longboat Key Club and Resort was developed," club officials say, "for an entirely different purpose — to facilitate a refinancing and valuation of the property in addition to a traditional appraisal."
Key Club General Manager Michael Welly said Loeb routinely refinances its properties to create capital that can be reinvested back in the form of upgrades and new facilities.
“This is simply another attempt to discredit the club during our redevelopment hearings,” said Welly in a prepared statement. “Loeb has refinanced the club twice in the past six years that I’ve been here. The funds generated from the previous refinancing of the property have been reinvested back in the form of upgrades to the hotel, restaurants, spa, fitness center and golf courses — and have assisted in the development of the $4.5 million Tennis Gardens and the $8 million reacquisition of the Longboat Key Moorings marina.
"We look forward to resuming the Club’s Outline Development Plan application hearings and to the approval of the revised application by the Town Commission before the town’s summer break starting July 1,” Welly said.
Key Club Attorney John Patterson said the information submitted to Town Hall is factual but confidential.
“A confidentiality agreement was required to receive these documents and they were marked accordingly,” said Patterson, in a prepared statement. “Typically if you are handed a document designated in this way, you hand it back understanding the possible repercussions. You certainly don’t pass it along.”
Contact Kurt Schultheis at firstname.lastname@example.org.
Currently 1 Response
- Commisioner Jaleski continues to be an embarrassment to Longboat Key. First off, it is highly suspicious that a packet of documents just happened to show up on his doorstep in the dead of night. Further, a person with integrity would have endeavored to turn them to their originator, rather than rush to expose confidential information(of dubious relevance to current matters) to the public record. Mr. Jaleski's performance in the May 20 afternoon special session was ludicrous. It would be nearly impossible to find anyone who attended who did not believe his detailed inquiries were not prompted and/or scripted by others, as he has shown no evidence prior to then of being thoroughly versed in the minutia of zoning codes and Florida statutes.
Advocacy masquerading as impartiality is dishonest. Fortunately, it appears that his attempt to be a roadblock is resulting in little more than a speed bump. But, as I said, he is an embarrassment to what otherwise appears to be a serious, hardworking body. The next election can not come soon enough.
8 Sarasota Music Half Marathon
7:00 am - 6:00 am
12 Longboat Key Chamber of Commerce Networking Luncheon
11:30 am - 1:30 pm
14 New Exhibit "Oh Baby" Life Cycles of the Seas
10:00 am - 5:00 pm
17 Hospitabull Evening 'A Taste of Israel'
Gauls celebrate sweet 60
On Jan. 29, Jack and Joan Gaul will celebrate their 60th anniversary.
Dora Walters goes by the book for readers
You saw her byline countless times during her 26 years at the Longboat Observer, but now, retired Senior Editor Dora Walters’ byline appears on her new book, “Rewind…Playback: A Collection of Life’s ‘Little’ Memories.”
Encore opening celebration
Members of the Longboat Key Chamber of Commerce gathered for a ribbon-cutting event Jan. 20, at Amore by Andrea.