STUPID IN MIAMI
DON’T BLAME ME, SAYS HIS IGNORANCE
A CRESPO-GRAM EXCLUSIVE
COPYRIGHT 2011(C)
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For years, Tomas Regalado has claimed to be the poorest politician in the land.  When he ran for Mayor he claimed that his net worth was $5000. Almost nobody in the news media challenged him, even though that claim was clearly preposterous.


It was just another of those Miami things. The Mayor wanted to be one with the citizens of one of the poorest cities in the country, and so he proclaimed himself the poorest politician.


In 2008, the Miami New Times did a brief piece about Regalado’s claim about being poor they quoted him as saying, "I'm poor," he says. "I can't afford to pay to go to the performing arts center or see the Heat play more than twice a year. But I don't care; that's the way I choose to live."


In the two years that he’s been Mayor, Regalado’s net worth has gone from $5000, to  $7000, to $9300.


This year, after we revealed that the Mayor goes to all the Heat games and Boxing matches and other event he wants by having his aide Ada Rojas ask for tickets, the reaction from his office was to demand that the city’s IT Department find out how I got my hands on the emails.


Now, it’s been widely reported that in the past Regalado had some tax problems, but he claims that they ended in 2004, and he also claimed in the New Times story that most of his money had gone to pay for his children’s education.


Then again, the kids are not only grown, but Raquelita lives in a house that she claims is worth $375,000 although the property appraiser has an assessed AND market value of $121,225, and the house only cost $180.000 when she bought it in 2002.  Somehow, that house is not only under water, but you’d probably need a submarine to visit it.


Tommy Jr. according to several neighbors just bought a house in the Roads section for $265,000, and it appears that he paid this amount for a 2 bedroom 1 bath house in a neighborhood where the average house with similar footage and rooms are going for around $134,000. For more information on both of these kids houses, click HERE.


Jose, the youngest lives at home with his father and is a question mark when it comes to what he does to make a living.  He was a volunteer working in his father’s office last year, but with the new approach to shield as much information as possible from the public, the Mayor’s current website no longer lists the names  or job functions of his staff.


All in all though, after a 30 plus year career as a radio and TV host, along with 15 years as a City Commissioner and now Mayor, Tomas Regalado at 64, should be financially secure, and should certainly have a net worth of more than $9300.


HIS SALARY AND BENEFITS 


Below is a copy of his November 11th payroll account.  You’ll see that in addition to his salary of $89,538.48 as Mayor, he gets an annual expense account of $30,000 to do with as he wants, and a $3600 a year Cell Phone Allowance.  In addition, he gets a Sgt-At-Arms and a city SUV that pretty much takes him every where he wants.


The salary and expense allowances come to 123,138,48 before taxes, and $81,889,76 after taxes.


NOTE:  To view a larger copy of any of these documents click on them. The expense account and cell phone allowance are paid as part of the first check of every month.

The problem is that no where does the Mayor list his house as an asset although clearly, it is.



Instead, it appears that he tried to be cute by a slight of hand misdirection ploy claiming in the above financial report that, “Homestead is shared by Jose Regalado.” 


That’s a peculiar phrase, and in searching for a legal definition, as well as talking with folks knowledgable about property issues, it turns out that for legal purposes, Regalado could have substituted his dog or cat for any claim implying that “sharing a homestead” with his son qualified as his son as a co-owner and therefore someone sharing the value of the house for the purposes of lowering his own net worth, which appears as the only possible reason for using this terminology in his financial report/.


The fact that he failed to list the house’s assessed or market value, minus the outstanding mortgage is a clear violation of failing to provide a full and truthful accounting of his assets.


To establish that Regalado is the sole legal owner of the house, here is the latest information from the Property Appraiser’s office which identifies the Mayor as the sole owner of his house.

Now, $81,8889,76 isn’t a whole lot of money by today’s standards, but it is $6824.14 a month for a guy who leads a pretty quiet life, and gets picked up at the door every morning noon and night that he’s on the clock.


Nobody’s every accused the Mayor of hanging out till 3 or 4 in the morning getting drunk and partying in some nightclub.


So the big question is what does he do with this money if at the end of he year he claims his net worth is only $9300?


HIS HOUSE


He does own a house. It’s latest assessed value is $139.085, and the market value is $172.324.

Like most home owners though, Regalado has a mortgage on the house.  The outstanding obligation according to the latest financial report he filed is that he owes the bank $67,000.


That leaves an equity of $105,324 on the market value that would be considered part of his net worth.

In addition, here is a listing of all of the Jose Regalado’s in Miami-Dade County who are property owners.  The Mayor’s son is not listed.

In addition there the issue of personal goods including furniture, jewelry, art work, etc., that the Mayor failed to account for.  I’m sure he and Jose don’t sleep on the floor and eat with their fingers, and there’s the question of whether the supposed Rolex watch he wears is real, but no matter what the total value of all of these items are, there is clearly some value to the accumulation of all of the things that are in the house, and the value of those things needed needed to be aggregated and listed.


So there you have it, the Mayor claims his net worth is $9300, yet, over the last 2 years that he’s been Mayor he’s netted $163,779.52 in salary and unrestricted expense account payments, and at least for several years before that he also collected $104,000 a year before taxes as a City Commissioner, after the change was made to pay Commissioners the equivalent of a full-time salary.


Even though I’m sure he a caring and generous father and grandfather, the question still remains that unless he’s got some secret vice, his financial report should list a net worth of more than $9300.


Just the market value equity in his house should increase his net worth to $114,624.

NOVEMBER 27, 2011

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