Yet another West Palm Beach city commissioner is feeling the economic pinch.
Commish Kimberly Mitchell, who’s mulling over a run for mayor, soon could lose her day job.
Her bonds underwriting firm, the Chicago-based Loop Capital, is considering a strategic change in Florida.

Kimberly Mitchell
Mitchell is Loop’s sole representative in the state, at a time when the government bonds business has slowed to a crawl. So Mitchell’s scheduled to fly to the Windy City next week to discuss the firm’s new plan, which may not involve her.
“The issuance of bonds in the state is down 50 percent,” Mitchell said. “Loop is a small firm and their resources may be better allocated in a more active place.”
Bonds are financial instruments by which government raises capital, often for things like land purchases and construction.
Mitchell said the situation has nothing to do with the fact that Palm Beach County is re-thinking how it deals with bond issues. Former PBC Commish Mary McCarty is facing five years in prison partly because she voted to favor her husband Kevin’s bonds business.
“That hasn’t been part of the discussion,” Mitchell said.
Mitchell has underwritten bonds for the county and the South Florida Water Management District. Her fourth term as commissioner is considered a part-time job. Her City Hall pay is $30,000.
Earlier this year, her fellow commissioner Molly Douglas faced watching her home getting sold on the courthouse steps. She said she paid off her loan.

Loading ...