Over $700,000 worth of interested difference on the Veteran’s Nursing Home Escrow Account

I have previously shared my concerns about the $30 million transfer to the State Veteran Services for the development of a local Veteran’s Nursing Home. One of my major concerns was the lack of a guaranteed interest rate stated in the Escrow Agreement.

The Florida Department of Veterans Affairs provided an update about the project on April 23. The current escrow account showed a 2.63% annual interest rate with a net growth amounting to $657,793. In comparison, our interest rates have constantly ranged between 5% and 5.54% over the same period, which would have netted $1,385,769.

Learn more on CollierClerk.com.

– Crystal K. Kinzel, Clerk of the Circuit Court and Comptroller