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Tuesday, December 12, 2017

San Leandro's revenues have dipped over past six months, says city manager

San Leandro City Manager Chris Zapata
suggested Monday that the council revisit
pension reform in January.
SAN LEANDRO CITY COUNCIL
After a few years of robust revenues, San Leandro's tax receipts have fallen short of expectations over the past six months, said City Manager Chris Zapata.

For roughly the past three years, San Leandro's revenue streams, including various successful tax-generating ballot measures, have bolstered its general fund, in part, leading to a boom in the city's capital improvement projects. San Leandro's economy, however, might be showing signs of regression.

"What we are seeing now, and will be very clear when it comes to that day is that we have seen two quarters--or six months--of what we call cresting. Where our revenues have slightly decreased, which is a change," said Zapata.

Zapata made the comments at Monday night's meeting as a preview for a council retreat scheduled in January. One culprit may be rising pension costs.

The decision by CalPERS to lower the investment rate of return, said Zapata, is one potential area of concern related to San Leandro's budget, starting in 2020 and 2021.

Zapata also indicated the council may want to revisit pension reform, similar to 2013, when it voted to more vigorously pay down the city's pension liabilities.

1 comment:

  1. By MW:

    If revenues are falling, then San Leandro should hire Nate Miley as a consultant for ideas on how to start and stimulate businesses that would generate additional tax money.

    Miley would very likely suggest having as many medical marijuana clinics as possible, and if the presence of a lot of medical marijuana clinics in San Leandro led to a lot of additional shootings and murders within the city limit, that would be no big deal as long as the medical marijuana clinics produced even only a few additional dollars of tax money.

    In fact, and so as to produce even still more tax money, I suggest that all towns and cities in Alameda County, and also Alameda County itself in the unincorporated areas, open a ton of stores selling not only medical marijuana, but also heroin, cocaine, crack, LSD, and every other generally prohibited drug.

    In fact if we turned our section of the East Bay into one big gallery of drugs, dealers, and drug addicts, it might even lead to a lot more wealthy, overpaid, and drug addicted lawyers moving in and buying houses in our area, and therefore causing real estate prices to considerably increase.

    (NOTE: One of the dirty little secrets of the legal profession is that lawyers have far and away the highest rates of alcoholism and drug addiction of any major profession.)

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