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Tribune News Service
Tribune News Service
National
Andy Reid

Trump reports growing income from South Florida businesses

FORT LAUDERDALE, Fla. _ President Donald Trump's income from his South Florida clubs has soared since the real estate mogul became commander in chief, according to his financial disclosures.

Trump's combined income reported from his Mar-a-Lago Club in Palm Beach and his golf clubs in Jupiter, West Palm Beach and Doral has doubled to $191 million since he was elected president, according to his latest annual financial disclosure, released June 16.

Trump has said he turned over operations of his businesses to his sons while he focuses on the presidency _ though his financial ties to his vast holdings remain.

According to financial disclosures Trump filed as a candidate, his annual income from Mar-a-Lago grew from about $16 million in 2015 to nearly $30 million in 2016. The 2017 filing shows that income has jumped to $37 million.

Among his golf courses:

_Trump's reported income from Trump National Golf Club in Jupiter increased to about $20 million in 2017, up from almost $18 million in 2016 and about $12 million in 2015, according to his disclosure forms.

_Trump International Golf Club in West Palm Beach generated about $18.4 million for the president, according to his 2017 report. That's up from about $17.5 million in 2016 and $12.7 million in 2015, according to the presidential disclosures.

_At Trump National Doral near Miami, Trump's disclosed income jumped from about $49 million in 2015 to nearly $132 million in 2016, before dipping to about $116 million in the 2017 report.

Renovations that made some hotel rooms unavailable for use could have contributed to the drop between 2016 and 2017.

Critics say that Trump creates potential conflicts of interest by keeping ownership stakes in his worldwide business operations.

For example, they argue that the tax reform Trump advocates could directly affect the bottom line of his businesses and his foreign investments could complicate his dealings with foreign powers.

Trump's frequent presidential visits to Mar-a-Lago, his so-called Southern White House, are boosting the value of the private club at his Palm Beach estate, according to the government watchdog group Common Cause.

"The resources of the federal government have been used to promote President Trump's businesses," said Paul S. Ryan, of Common Cause, which after the election called for Trump to sell his businesses. "You shouldn't be able to profit off your time in office."

Tom Fitton, president of the conservative government watchdog group Judicial Watch, said the success of Trump's businesses is one of the reasons voters chose him and shouldn't be seen as a conflict.

He said the real headline from the president's latest disclosure was that "he's still rich (and) liberals still aren't happy."

"The American people elected a president with this complex business empire," Fitton said. "Sensible people ... shouldn't really be bothered."

In addition to reporting incomes, Trump's disclosure form estimates the value of Mar-a-Lago and his Jupiter and Doral golf clubs to be more than $50 million each, while estimating the West Palm Beach golf club's value to be in the $25 million to $50 million range.

Property value assessments used to determine Trump's property taxes in Palm Beach and Miami-Dade counties have been going up, but not necessarily as much as the values included in the president's financial disclosures.

That's partly because state law doesn't allow counties to factor in how ownership _ even if it's one of the most famous names in the world _ affects property value.

"There is value in his name," Miami-Dade Deputy Property Appraiser Lazaro Solis said. "As an appraiser, we cannot take into consideration the value of a brand."

The Trump property value increases come at a time when other area golf courses and country clubs are seeing their property values rise as well, without any presidential connections, according to the Palm Beach County Property Appraiser's Office.

"Market trends are all up, pretty much, across the board," said Vince McLaren, who handles property assessments of the Trump golf courses and others in the area. "The majority of golf courses (values) have increased."

White House and Trump Organization representatives did not respond to requests for comment about the president's income reported in his latest financial disclosure.

A statement from the White House released on June 16 noted that the president wasn't required to file a financial disclosure form until May 2018.

"President Trump welcomed the opportunity to voluntarily file his personal financial disclosure form," according to the White House statement.

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