How do Redevelopment funds help or hurt the City’s overall budget and does Redevelopment impact policy and fire departments?
In many cities, Redevelopment funds have paid for new public safety buildings (fire and police stations). Currently, for the new proposed Project Area, there are no specific plans for any specific projects. The new Project Area is proposed as a Project Area most beneficial to local residents and what they determine, through the City Council, is the most pressing need. As for the City’s overall budget, redevelopment helps the general fund budget by covering costs and paying for services that might otherwise not occur. For example, redevelopment funds help to pay for housing programs so that state and federal grants can go entirely to the housing programs. Redevelopment funds cover staffing in other departments that benefit redevelopment (like economic development, housing hotline and multi-family inspections). Without redevelopment funds these programs would likely not happen.
Related Questions
- Can Job Opportunities Program funds be used proactively to help reduce the impact of expected resource sector change, or are they limited to projects launched after layoffs have already taken place?
- Does the 12% indirect funds count towards the overall requested budget amount, or is that in addition to the overall requested amount?
- What is the financial impact of the annexation on the City’s overall budget?
