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Diaz left Miami in financial crisis

 

When Mayor Manny Diaz left City Hall, Miami was left in a financial crisis.More than $100 million in reserves were used to cover operational needs, city bonds were downgraded, city financial reports misled creditors and the Securities and Exchange Commission began investigating violations on financial reporting and procedures, and is still doing so.

The impact fees generated by the construction boom in the Brickell area were allocated to cover other operational needs of the city instead of investing those revenues in the area where they were generated, a total violation of the state’s statutes.

Zoning and buildings regulations were not appropriately enforced, no new green areas or parks were created or respected.

Now Diaz pretends to be the CEO of the state. Mr. Diaz, a great visionary? Records and actions speak for themselves. No thanks!

Ernesto Cuesta, Miami

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