If the three Rehoboth Beach commissioners named in your article make their decisions based on “an awareness of their fiscal responsibility,” please excuse them from making any more fiscal decisions.
Taylour Teddy had just received a 28% raise in April 2023, then in May 2024, Rehoboth gives him a 33% raise along with a $750,000 personal loan. Is that loan for a boat? A new car? A townhouse?
Is it being spent on something with collateral value should he leave his job before seven years?
Your article didn’t disclose the interest rate he’s being charged, if any, or what if any monthly principle payments he’ll be making.
As a certified financial planner and owner of a broker dealer firm, had I used corporate money for a contract like Teddy’s, the NASD would immediately shut down my firm. In contrast, Rehoboth uses our tax dollars to fulfill its contract. Plus, they are having to raise our taxes to meet this obligation.
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