Tag: city budget
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Foundry Row’s Biotech Growth Is Reshaping the City’s Bottom Line, Budget Office Finds
A budget office report projects nearly $11 million in additional city tax revenue driven by Foundry Row’s biotech expansion, prompting a debate over whether to save the windfall or spend it on transit, housing and workforce priorities.
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$34 Million Appropriation Would Finish Foundry Row and West Bellwater Transit Segments
The city council voted 6-1 to approve a $34 million appropriation completing construction financing for the transit corridor’s West Bellwater and Foundry Row segments, with Cedar Hollow’s council member casting the lone no vote.
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Council Splits Over Chief Simms’ $94 Million Police Budget Request
A push to redirect police overtime funding toward a mental-health co-response pilot became the sharpest fight of this year’s budget season, ending in a committee compromise that funds a smaller pilot alongside a $91.2 million police budget.
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After Years of Delay, Bellwater Commits to a Bus Rapid Transit Corridor
The city council narrowly approved an $86 million bus rapid transit corridor linking West Bellwater to Foundry Row, but only after adding stronger affordable-housing requirements for new development along the route.
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Cedar Hollow Council Member Wants Biotech Windfall to Fund Addiction Treatment
Council Member Gary Petrowski wants to lock in multi-year addiction treatment funding, including a long-sought second outreach van, using a share of the city’s unexpected biotech tax revenue windfall.
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Whitfield Warns of $18.6 Million Gap as Budget Season Begins
City Manager Marcus Whitfield opened budget season by warning the city faces an $18.6 million gap next year, as rising pension and health care costs outpace growing biotech-sector tax revenue.
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Whitfield Moves to Quash Retirement Speculation at City Hall
City Manager Marcus Whitfield denied rumors of an imminent retirement, saying he intends to stay through the completion of the transit corridor and this year’s budget commitments.
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Ibarra, Citing Biotech Turnaround, Says She Isn’t Done Yet
Mayor Renata Ibarra announced a bid for a third term Wednesday, pointing to falling unemployment and biotech-sector growth even as some council members say the recovery has bypassed Lowertown and Cedar Hollow.
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Ibarra Casts Biotech Boom as Proof of a City Turning a Corner
Mayor Renata Ibarra’s State of the City address highlighted Foundry Row’s biotech-driven revenue growth, drawing praise from business leaders and criticism from council members who say Lowertown and other districts have yet to see the benefits.
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Boudreaux Pitches Dedicated Reinvestment Fund for Lowertown
Council Member Terrence Boudreaux wants to create a dedicated Lowertown reinvestment fund capturing rising Foundry Row property values, arguing the neighborhood deserves a guaranteed share of growth happening next door.