“If everyone is moving forward together, then success takes care of itself”
3. Regarding Capital Improvements:
Background: PVE appears to have persistently underfunded capital improvement reserves, notwithstanding that there are ongoing challenges managing sewers, streets, water intrusion, City Hall seismic and communication technology deficits, and other infrastructure needs.
Question: Alongside its recurring operational expenses, how should the City fund these medium and long-term capital improvement needs?
Responses:
Derek Lazzaro
“DEREK LAZZARO:
”I believe that major infrastructure needs should be funded with Bonds that clearly outline the need and the associated costs. I also support a more aggressive strategy in seeking State and Federal Grant Funding to support our city. “”
Desiree “Dez” Myers
“DESIREE ‘“DEZ” MYERS:
”Clarification: It appears we need $21 million based on public disclosures
• City Hall has not been maintained for 6 years. In December 2023, Walker Construction provided an analysis to fix City Hall which was under $10 million.
• There is a total of $11 million in unfunded costs in the Capital Plan
1. Fix infrastructure:
Using residents’ priorities, while making safety a priority, trade-offs are:
• Increase revenue considering cost efficiencies, non-tax revenue, tax increases, new businesses
• Road maintenance is a considerable cost. The City can reduce the frequency of resurfacing streets. While is abhorrent to some, it is an example of one of the trade-offs to be considered.
• Finance using a bond for the $21 million. This is abhorrent to some because it means we are consuming services that must be paid later by future generations and it increases the cost because of interest. While large Bonds as a sudden infusion of large cash can cause waste, fraud and abuse, a small specific bond can be tracked and managed effectively.
2. Let’s not neglect planning again and get behind. No more surprises: The cost to maintain infrastructure needs to be included in the budget, so we do not find ourselves here again with yet another emergency.””
Craig Quinn
“CRAIG QUINN:
”There is no question that the capital improvements and infrastructure needs have been underfunded or neglected due to competing priorities and budgetary constraints.
In my view, a combination of Funding sources from operations, County and State sources, Grants, allocating a percentage of Parcel taxes (should one be passed in the future). Also, a potential bond to address City Hall by building a new state of the art Public Safety facility, should this be the desire of our residents to fund.””