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Advisory committee calls proposed 288‑site RV resort a high financial risk, asks for fuller assurances
Summary
The FACT committee reviewed a developer presentation for a proposed high-end 288‑site RV resort and, citing financing, occupancy and community‑impact concerns, voted to tell the council it cannot support the project as presented and requested more detailed financial assurances.
The Town of Loxahatchee Groves Financial Advisory Committee (FACT) examined a proposed 288‑site RV resort and advised the town council that, based on the materials provided, the project appears to present substantial financial risk to the developer and potential secondary costs to the town.
Committee Chairperson Manish Sood described the committee's analysis of the developer's assumptions and said the proposal, as presented, does not demonstrate sufficient free cash flow to cover likely financing costs. "You will bring 1,200 to 1,500 people to our town," Sood said, raising concerns about added service…
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