The commission engaged in a discussion about the Ritz Theater, a property that stands as a historical and cultural landmark in the community. The theater, which has been struggling financially, faces a mortgage due in August 2024, with the outstanding principal balance approximating $497,000 as of February 1, 2024. Despite being in good repair, the theater necessitates an estimated $595,000 for critical maintenance over the next few years, including roof and air conditioning unit replacements.

The city’s involvement with the Ritz Theater dates back to 2004, with contributions surpassing $515,000. The current predicament has led to a proposal for the city to consider taking over the theater. The potential transfer entails immediate one-time capital expenses, ongoing operational costs, and long-term maintenance costs, which could total around $1.29 million over the next five years. However, ongoing grant funding could potentially reduce the city’s financial liability.

The commission considered the possibility of engaging Theater Winter Haven to manage the Ritz, as they have experience with programming and managing other spaces at Chain of Lakes Park. The theater would be responsible for direct expenses and revenues of events, which could include concerts, game nights, variety shows, and professional productions, aimed at maximizing the activation of the space and providing economic benefits to the downtown area.

The debate also touched on the city’s role in owning and operating a business, with the implications of government involvement competing with the private sector. The significance of the Ritz to the community’s history and culture was acknowledged, considering the possibility of revenue sharing and long-term control of the asset. The commission discussed limiting the city’s involvement to a certain period, with an exit strategy if the venture proved unsuccessful.

Moving away from the theater’s future, the commission addressed several other matters. The renovation of the Rowdy Gaines Olympic Pool was discussed, emphasizing the need for a comprehensive overhaul of the filtration and chlorination systems. The commission considered hiring a construction manager for an efficient and economical project delivery, with concerns about the pool’s availability during renovation and questions about the project timeline and equipment lifespan.

The commission then shifted focus to environmental efforts and infrastructure improvements. They discussed the Urban and Community Forest Grant, which aims to address tree removals, pruning, and planting in disadvantaged communities. The grant requires a 50-50 match, which the city plans to use to implement its urban forest plan with the ambitious goal of planting 100,000 trees.

Infrastructural discussions included the purchase of water meters to address supply chain issues and the upgrade in accuracy with new models. Furthermore, the commission considered appointing an owner representative to oversee the design-build process of a future water recycling facility, with Jones Edmonds proposed to manage the aggressive design process.

The renaming of Rialto Road to Cunningham Road was brought up, a request from the Villamar Community Development District that would involve no address changes and with costs covered by the Villamar CDD. Additionally, the commission approved the appointment of a Vice President of Polk State College to the Affordable Housing Advisory Committee and discussed the annexation of 56.74 acres of land for future development.

Financial matters were also a focal point, with the city’s Chief Financial Officer reporting a general fund surplus of $4.3 million, resulting in an available fund balance of $26.5 million. A recommendation was made to transfer $5.3 million of the surplus to the 2021 construction fund, primarily for the Lake Conine Project, and to help offset rising costs of constructing Fire Station 5.

Lastly, legal considerations were approached as the commission debated joining a lawsuit against the requirement for local Municipal officers to file detailed financial disclosures through form six. Concerns over privacy, the intrusive nature of the form, and the consequences of incomplete disclosures were discussed, alongside a bill potentially delaying the requirement until 2025. The commission sought further information on the legal and financial implications before reaching a consensus.