- Editor’s note: Yelm is on the precipice of a financial tsunami!
- Closed businesses/unemployment mean lower tax revenues,
- Mayor Foster said last night, “We hope this crisis will be over soon.”
- Very short-sighted, while neighboring jurisdictions prepare for a cash shortage, each declaring emergencies.
- Many cities have discussed new measures to support businesses, including deferring quarterly taxes and licensing fees. NOT here!
- Last night, the Yelm city council authorized 5-2 for Mayor Foster to sign a contract with Parametrix, Inc. for $1.89 million, for engineering design services for the Water Reclamation Facility Phase 2 expansion.
- The $1.89m will come out of the $2m sewer reserve fund.
- So what happens when there is a sewer breakdown and there is only $110,000 in the sewer reserve fund?
- While I have supported Public Works updates previously, that was prior to the coronanvirus emergency. The city will not be able to support this contract with the severe and impending loss of tax, building permit, and businesses revenue.
- Last night when the council discussed a pause on water bills to assist customers during this crisis, Mr. Foster said, “I need a revenue stream to pay our employees.”
- Mr. Foster: as mentioned on this blog recently, this city must cut expenses to conserve cash, and now!
- Yelm needs decisive leadership to declare a cash emergency!
- After the NVN published yesterday Foster would not declare an emergency, he then closed all city facilitates today.
- Mayor Harding did not conserve city cash during the 2008-2009 economic downturn and deferred water/sewer maintenance and upgrades, for which this city is still paying the price.
- Community Development Director Grant Beck was here in 2008-2009 and knows what occurred when housing values dramatically fell and the city did not plan for the property tax revenue loss.
- The COVID-19 crisis is exponentially worse than the 2008-2009 downturn and will take years from which to recover!
- By the next public council session on April 14, this city’s cash crisis will be in full view!
- Inslee suspends parts of open meetings, public records laws
Read more from of last night’s council agenda.
Editor’s note: These stories should be Mayor Foster’s guide:
Editor’s note: When Seattle sneezes, Yelm will catch a cold!