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Hernando Today

Stimulus Plan Hotly Debated

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By MICHAEL D. BATES

Hernando Today

Published: February 12, 2009

Updated: 02/12/2009 06:52 pm

BROOKSVILLE - One person likened a proposed stimulus plan for Hernando County to a Ponzi scheme the likes of which disgraced investor Bernie Madoff would be proud.

Another said the administrative costs and $2.5 million hit to the general fund could potentially bankrupt the county.

Yet another praised the plan, saying it promised relief to thousands of people seeking homes and would be a boon to business.

But after more than 60 minutes of debate, county commissioners decided to punt the plan over to its newly created business development committee, which will debate it at a public meeting March 17.

The committee will approve, reject or modify it and report back to the full board no later than April 17.

The proposed plan, formally called the "Comprehensive Plan for Recovery" or CPR, was written by civic activist and homebuilder Blaise Ingoglia, who presented a lengthy slide presentation to commissioners at their Wednesday land use hearing.

That plan, with input from Commissioner James Adkins, would require taking $2.5 million from general fund reserves to help finance economic stimulus grant money to potential homeowners who could then buy up foreclosed homes.

But commissioners decided there were far too many unanswered questions they hope will be sorted out via the standing committee.

"As soon as we can push this through, I would appreciate it," said Adkins, who acknowledged the final version of his plan will likely be severely tweaked.

Commissioner John Druzbick praised Adkins and Ingoglia for "thinking outside the box" and trying to stimulate the local economy.

"We can no longer sit back and do nothing," Druzbick said. "We are seeing our neighborhoods go down monthly."

But judging from audience comments Wednesday, the Ingoglia-Adkins plan will not be an easy sell.

"This is the first time I ever heard someone ever suggest a Ponzi scheme to the county commission," civic activist Janey Baldwin said, referring to the pyramid-type scheme that recently rocked the investment world.

"I read in the newspapers that we're short of money," Baldwin said. "But all of a sudden you have $2.5 million?"

Lisa Hammond, who sits on the planning and zoning board, said the costs of administering such a program would be astronomical.

Hammond said it would also compete with other assistance programs available to people, such as the Neighborhood Stabilization Program, which provides grants to the county to purchase foreclosed homes.

Not everyone opposed the plan.

Anna Trinque, chairwoman of the Hernando County Republican Executive Committee, was so enamored of the plan that she believes it would serve as a model for other counties.

"We need to be proactive," Trinque said.

Trinque said this is no different than the county office of business development offering incentives to potential relocating industry.

To view the proposed stimulus plan, visit the following Web site and click on the attachment:
http://hernandocountyfl.iqm2.com/citizens/Detail_L...

Reporter Michael D. Bates can be reached at 352-544-5290 or mbates@hernandotoday.com.

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