The Producers

The gist of "The Producers" plot is as follows - New York, 1959. Max Bialystock was once the king of Broadway, but now all his shows close on opening night. Things turn around when he's visited by the neurotic accountant Leo Bloom, who proposes a scheme tailor-made for producers who can only make flops: raise far more money than you need, then make sure the show is despised. No one will be interested in it, so you can pocket the surplus investor money.

If one examines the many "closing nights" for commercial developments on Longboat Key, compared to the overwhelming success of dozens and dozens of high-end residential homes, one wonders why investors would ever choose to put their money into commercial speculations on this island.

The reality of commercial development includes "the developer", quite similar to the producers, in that both use other people's money and have no "skin in the game", to use a Warren Buffett term. Other than maintaining a track record, neither the developer or the producer suffers any real lose if his/her efforts turn out to be failures.

The following is a list of commercial developments that are no longer here: Avenue of the Flowers, Mattison's Restaurant, Whitney Plaza, Holiday Inn, Buccaneer, Far Horizon, numerous small tourist facilities, 2 gas stations, bank building at north end, the commercial property adjoining the Center Shoppes property, and L'Auberge Restaurant.

Fortunately, for every failed commercial venture on Longboat Key, five to ten luxury homes have been constructed. No one can deny that a new mansion increases surrounding property values, whereas failing small retail shops in poorly maintained strip malls do little, if anything, to improve our community's image or property values.

Avenue of the Flowers and Whitney Plaza cast a pall over the entire community. They have for years. For the past few years the commission has been guilty of benign neglect in these areas. It's time to do something that should have been managed years ago, instead of treating these eyesores as cherished locations for commercial tourism expansion. We are all getting older and poorer while we wait for the commissioner's "vision" to come true, if ever.

Publix has begun a revitalization of what was Avenue of the Flowers. The town needs to aggregate other social amenities around the Publix project. We don't need more doomed retail experiments and wasted years. We need to have more fun.

It's time to stop coddling developers, and follow a more proven direction for revitalizing our community, by attracting residents who want to build mansions instead of motels and busloads of tourists.

The town needs to be active in resolving the visual blight at Whitney Plaza that is pulling down property values in the surrounding neighborhood. Too many years have passed where the town has allowed a developer to hold the north end property owners hostage, while he waits, hoping for a financial miracle. Job one for the commission is to preserve and improve property values on Longboat Key. For the past few years the commission has done nothing to resolve the Whitney Plaza blight. Has the commission bothered to find out what is really happening at Whitney Plaza? North end residents are tired of hearing "check's in the mail", "Mercedes is in the shop", "Whitney Plaza will be booming next month".

If one examines what has actually been occurring on Longboat Key since the referendum permitting 250 replacement tourists units was passed 7 or 8 years ago, the answer is absolutely nothing in the commercial sector of the island's economy, and a robust proliferation of high-end single family homes up and down the island. As Al Green said in a previous article, the "market" is driving our economy, and that market has been exclusively private residential up-sizing. The commissioners would do well to support this process, rather than fighting it, as they are doing at present.

Commercial developers have had a poor track record on Longboat Key. Perhaps so many commercial developments have failed due to the strong market trending towards Longboat Key becoming an exclusive seasonal retirement community. The commissioners need to promote this trend rather than talk about commercial development that is years away at best, and a probable failed blight a few years later, if one looks at the history of commercial development on our island for the past 20 years.

If the commissioners insisted that a commercial developer have a large financial stake in a proposed project, as recommended by Warren Buffett, I doubt we would ever see an expansion of tourism on Longboat Key. Perhaps then the developers would put their money into exclusive residential development where the odds of financial success are far greater.