Developer resubmits plans to fix Lake Worth Casino - Fox29 WFLX TV, West Palm Beach, FL-news & weather

Developer resubmits plans to fix Lake Worth Casino

LAKE WORTH, Fla. - When the city of Lake Worth rebuilt its well-known casino on the beach, it was hoping it would be attracting people and making money.

It hasn't worked out that way; it has both structural and financial problems. Now, a developer who once offered to help fix the problem is back with a new offer.

“There are needs that the city has and the residents have but there isn't the financial capacity,” Steven Michael, founder of Hudson Holdings said.

Two weeks ago, Michael's company withdrew their name from the ITN (Invitation to Negotiation) after what they call a lack of communication, transparency and vision with the city.

WFLX FOX 29 has called out to the city, asking them to explain the process and what Hudson says went wrong. Hudson Holdings has since submitted a new scaled-back proposal where the company would foot the cost of repairs and make money by running the catering services at the casino.

"The taxpayers deserve something better than what is here,” Blake MacDiarmid said. MacDiarmid,  a community relations consultant says the timing of this development is key. The developer says the city is losing about $300,000 from structural deficits and $629,000 in operational losses a year.

"They just don't have the money to do what was promised previously,” MacDiarmid said.

With residents caught in the middle, wanting lower taxes and untouched beaches, they say enough is enough.

“I think they should have thought of all that more carefully before they made the decision to go ahead and develop this. They got what they wanted now it’s like is it ever going to end?"

The city is still on the hook for $6 million borrowed from their utility fund to cover the renovation costs. 

There are still 2 developers that responded to the previous proposal. They will be discussed next month.

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