
The City Council approved a two-year budget for Emeryville at its meeting on June 19. It’s our first financial blue print since the demise of Redevelopment Agency (RDA) funding, and it reflects the fact that building boom days are over. The fight to pay for key services and essential projects without RDA support now begins. Let me offer some personal comments on our financial prospects. I’ll start with a selection of good news. The city’s early childhood development center (ECDC) will be fully funded and strengthened. Funding for our traditional community promotions grants and for ECAP has been found. Fire service expenses have been shifted to Alameda County at considerable savings to the city, and service has been enhanced. Funding to bring police services to full strength are in the new budget. Essential public works projects—Marina dredging, sidewalk repairs, sewers, tree planting, maintenance—are funded. Modest reserves are built into the new budget. Finally, provisions for the care and feeding of the city’s General Plan are provided. But here’s a look at the darker side. I reported last year that the city’s long term debt stands at $165,474,763. When you add interest, our combined debt is $250,102,582. Funding that debt cost