When the city’s project review committee meets tomorrow, it might not have much to do.
City Comptroller Glenn Klocko said Wednesday that about $16 million worth of new projects sought by various departments can’t be done without forcing an unacceptable tax hike and possibly undermining Bristol’s solid bond rating.
“We can’t afford it,” Klocko said.
Mayor Art Ward said he has spoken with Klocko in anticipation of today’s Five-Year Capital Improvement Program Committee meeting and understands the fiscal realities are going to make it tough to do much.
Klocko said that after a decade of generally approving what departments say they need, this time it’s not possible.
“This year, we have to take a break,” Klocko said.
The comptroller said the city is carrying $51 million worth of debt that has to be paid off and has already authorized $15 million more. Next year, he said, it will have to add about $30 million to cover the city’s share of the $115 million proposal to build two new schools.
If the city were to approve this year’s projects as well, Klocko said, it would push up annual repayment costs to an untenable level.
The school project alone is going to force about a three-quarters of a mill property tax hike, Klocko said, so it’s crucial to hold down other project spending as much as possible to keep the burden manageable.
What that means is that if the committee agrees with Klocko’s request, a number of flood control measures, culvert replacements and other infrastructure needs would be delayed.
Pushing them off to future years doesn’t mean the project won’t happen, merely that they wouldn’t get going during the 2008-2009 fiscal year.
Klocko said that his primary concern is that credit rating agencies, which are skittish now after a series of debacles, won’t look kindly on a spike in city bonding that could have been controlled.
In practical terms, though, a clampdown on projects would mean that the move to renovate firehouses won’t happen for at least a few years. It would also mean a postponement of the proposed community theater project at Memorial Boulevard School.
Klocko said he doesn’t like saying no, but there’s no choice.
“They have to get in line,” Klocko said.
He said people need to keep in mind that city issues bonds that are paid off over 17 years so taxpayers will be paying off past projects for a long time. Among the projects that were done with bond money were the library renovation and the mall purchase.
The comptroller said that that several million dollars in projects can be done, probably including a scheduled roof replacement at one of the schools and perhaps the replacement of a damaged track at one of the high schools, which may pose a liability hazard.
The projects committee is meeting at 4 p.m. Thursday at City Hall.
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Copyright 2008. All rights reserved.
Contact Steve Collins at scollins@bristolpress.com
25 comments:
I wonder why paying these crazy saleries. Lets just give the union the city and the rest of us just leave better now than later.
They take care of them selves it has no chance get rid of the union and get qualified people to work for the city and things will change.
Don't let the door bang you on the a** on the way out.
I think it's pretty clear that Bristol CAN NOT afford these new schools.
8;37 You ust be one of Mike Petosa followers. Party is coming to a end for some the lazy workers. SO START PACKING NO ROOM FOR UNION SLUGS.
What you really mean is no room for deadbeat loudmouth bleeders like you. I still say if you useless jerks move Bristol would be a lot better off.Trust me you won't be missed.
This site is such a letdown for anyone with any hope of a brighter tomorrow for this community. Just once, I would crave hearing someone speak positively without the blantant sarcasm which turns the subject matter into a negative matter.
If I had to wake up every morning with the absence of any hope of anything potentially positive happening in my life, I think that I would stand in front of the mirror when I was shaving, evaluate my existence in society and determine if I could contribute towards bettering of my community or getting out of the way by moving my ass out of here. God, at least leave some hope for those of us who still believe that Bristol is a decent community which we all want to make even better - sound a bit more positive than what has been going on? Give it a thought, it might work.
I'm not sure I understand what the connection is between unions and a temporary hiccup in the bonding situation at City Hall. Whether to approve more projects for bonding this year really has nothing at all to do with union salaries or benefits.
The school plan is relevant, of course, and people are free to have whatever opinion they want.
So let's try to stick to the issue at hand, and it's not unions, at least not on this thread.
Does this lack of project cash have anything to do with the amount of money we have to pay back to ESPN?
I think it's pretty clear that Bristol CAN NOT afford these new schools.
Unions are relevent to this discussion because they are draining funds that could be spent elsewhere or lead to us bonding items without effecting our credit rating. With an overstaffed city employee situation, expensive benefits across the board, there just isn't a lot of money left for the real problems that effect regular people not on the city gravy train.
Sounds lke someone on here has "Union Phobia" It shows that's all you two care about. It's called jealousy!
Relative to ESPN, that is just a small part of the shortfall, and is by far offset by the large conveyance tax receipt from the Firestone building.
12:17 All you do is complain about union workers. Why don't you let blog viewers know how you make your living. Do you put away a % of your pay for retirement. How about social security? How does your money help the city achieve lower bond ratings? Where were you when jobs were in the paper or on the city web site? Have you ever called for a city service and not recieved what was expected? Call for police,fire,trash,or any service. Someone will always be there to help.
Jealousy ......
Yup .... I'm jealous of ALL welfare recipients that do nothing and receive $$ and benefits that WE TAXPAYERS pay for whether in a union or not .
I'M SURE YOU GET PAID AND AS FAR AS WE ALL KNOW YOU DO NOTHING BUT MOAN !!!!
KEN YOUR DOING A GREAT JOB KEEPING AN EYE ON THINGS IT WILL GET BETTER. JUST HOLD THE LIMITS ON SPENDING AND GET RID OF UNION BRASS AND WE WILL BE IN THE MONEY.
this post is absolutely off base. the real topic should be why the mayor is allowing Mr. Klocko to speak on this subject which I find completely out of his job description. Its bad enough he has given his personal opinion on our condition but then to handpick what projects he thinks should be funded? Someone send him the memo that the Charter Committee has not yet passed the city manager position.
And being you speak (or complain) about everything you must be a real big shot. Seems that you are right on one thing. People speak that have nothing to offer on any subject. Meaning you the "faceless wonder".
To March 20 2008 7:38. Very well said and I agree that this blog is just turning into a pissing match and the real issues are lost. Too bad!
Thank God for Art Ward.
For what?
The Mayor lets Nr. Klacko speak because he, the mayor, doesn't have a handle on what is going on.
The comptroller loves it when the mayor can't challenge him.
BRISTOL HASNT HAD ANY LEADERSHIP TILL KEN COCANE CAME ALONG. TO WATCH FOR US THE BANK WILL START FILLING AGAIN. UNION PEOPLE HAVE TAKING ENOUGH AND WERE WATCHING YOU . BEWARE.
just making noise and getting headlines is not leadership.
Lets see what Cockayne actually gets accomplished.
So far he has come up with nothing new, and so far has got nothing done.
He just knows how to "sound bite" and grandstand.
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