Dear Redwood City Neighbor,
I hope that you enjoy the following news and updates about Redwood City and our region. See you around town!
Best Regards,
Jeff
Jeff Gee
Council Member
City of Redwood City
I hope that you enjoy the following news and updates about Redwood City and our region. See you around town!
Best Regards,
Jeff
Jeff Gee
Council Member
City of Redwood City
What's On Deck for the City Council and the Planning Commission!
A section highlighting what is coming up at the City Council and at the Planning Commission. Dates and subjects may change. Check out the City's website to confirm the agenda, or subscribe to eAgenda by clicking here.
City Council - FY 2018-19 Budget
June 12, and 26: The June Council meetings are dedicated to the review and approval of the City's budget for the next fiscal year. Highlight's of this year's budget include:
Property taxes still represent the largest source of revenue for the City. It should be noted that from property taxes, Redwood City only receives 18% of what property owners pay. Public education receives 43%, San Mateo County receives 26%, an the remaining 13% is divided by special districts, and the former redevelopment agency. Sales taxes are the City's second largest revenue source, comprising 17.5% of our general fund revenues. As more people do their shopping on-line, we are seeing less growth in this area.
One of the areas of growth in expenses are our unfunded pension liabilities - totaling over $255 million and growing. This figure started to grow over 20 years ago when enhanced public employee benefits were granted without the funding to support them. Together with CalPers reducing the return on investment to 7% from 7.5%, the City's contributions to retiree benefits could grow as much as an additional $12 million over the next few years.
At the Council's May 22 meeting, the Council approved the establishment of a Section 115 Trust to help offset the growth in General Fund contributions to pay for pension liabilities. The Trust can only be used for these liabilities, is controlled by the City, is shown on the City's balance sheet, is able to earn more interest, and is safe and secure. This is a good first step to addressing this liability. However, with the threat of changes in federal policy, and the potential that the CalPers return on investment could be lowered, the Council is exercising caution in looking ahead.
Planning Commission
June 20: Consideration of approval of a Mitigated Negative Declaration for the Rocketship Charter School. This is a public TK-5 charter school, that will be operated by Rocketship. The proposed school would have a maximum occupancy of 480 students when it is fully operational. For additional information, click here.
A section highlighting what is coming up at the City Council and at the Planning Commission. Dates and subjects may change. Check out the City's website to confirm the agenda, or subscribe to eAgenda by clicking here.
City Council - FY 2018-19 Budget
June 12, and 26: The June Council meetings are dedicated to the review and approval of the City's budget for the next fiscal year. Highlight's of this year's budget include:
- A General Fund Budget of $131.649 million
- Total All Funds Budget of $267.187 million
- A Capital Improvement Budget of $38.3 million
- A General Fund Reserve of 15% of General Fund Revenues
- Establishment of a Section 115 Trust
- Community Building and Communication
- Community for All Ages
- Funding Long Term Liabilities
- Housing
- Maintaining and Enhancing Community Services - Public Safety/Public Works
- Transportation
Property taxes still represent the largest source of revenue for the City. It should be noted that from property taxes, Redwood City only receives 18% of what property owners pay. Public education receives 43%, San Mateo County receives 26%, an the remaining 13% is divided by special districts, and the former redevelopment agency. Sales taxes are the City's second largest revenue source, comprising 17.5% of our general fund revenues. As more people do their shopping on-line, we are seeing less growth in this area.
One of the areas of growth in expenses are our unfunded pension liabilities - totaling over $255 million and growing. This figure started to grow over 20 years ago when enhanced public employee benefits were granted without the funding to support them. Together with CalPers reducing the return on investment to 7% from 7.5%, the City's contributions to retiree benefits could grow as much as an additional $12 million over the next few years.
At the Council's May 22 meeting, the Council approved the establishment of a Section 115 Trust to help offset the growth in General Fund contributions to pay for pension liabilities. The Trust can only be used for these liabilities, is controlled by the City, is shown on the City's balance sheet, is able to earn more interest, and is safe and secure. This is a good first step to addressing this liability. However, with the threat of changes in federal policy, and the potential that the CalPers return on investment could be lowered, the Council is exercising caution in looking ahead.
Planning Commission
June 20: Consideration of approval of a Mitigated Negative Declaration for the Rocketship Charter School. This is a public TK-5 charter school, that will be operated by Rocketship. The proposed school would have a maximum occupancy of 480 students when it is fully operational. For additional information, click here.
Caltrain - Electric News on Electrification Funding!
On the morning of May 22, Senator Dianne Feinstein gave Caltrain General Manager and CEO Jim Harnett a call letting him know that Secretary of Transportation Elaine Chiao was ready to sign Caltrain's federal funding grant agreement totaling $647 million to help electrify Caltrain. This fantastic news was the culmination of decades of effort by staff, train advocates, commuters, business leaders, labor, and local, state and federal elected officials.
This project met all of the President's requirements for investing in infrastructure, including being shovel ready. Ground-breaking will occur within the next 30 days, and the goal is to have new trains and service running by 2021. Congratulations and thank you to everyone for their lifelong dedication and support of this critical transportation project for the region!
On the morning of May 22, Senator Dianne Feinstein gave Caltrain General Manager and CEO Jim Harnett a call letting him know that Secretary of Transportation Elaine Chiao was ready to sign Caltrain's federal funding grant agreement totaling $647 million to help electrify Caltrain. This fantastic news was the culmination of decades of effort by staff, train advocates, commuters, business leaders, labor, and local, state and federal elected officials.
This project met all of the President's requirements for investing in infrastructure, including being shovel ready. Ground-breaking will occur within the next 30 days, and the goal is to have new trains and service running by 2021. Congratulations and thank you to everyone for their lifelong dedication and support of this critical transportation project for the region!
Smokey Joe's Cafe
Fox Theater, Redwood City,
June 2 - 18
If you need a musical "pick me up," then Smokey Joe's Café just might be the right ticket! On behalf of the Board of Directors of Broadway By the Bay, and our staff, come join us for over two hours of non-stop music from the '50's and '60's. The cast and orchestra will bring you "Poison Ivy," "On Broadway," "Stand By Me," and over 30 of your favorites from this magical time in our history. The run closes this weekend, with final shows on:
Fox Theater, Redwood City,
June 2 - 18
If you need a musical "pick me up," then Smokey Joe's Café just might be the right ticket! On behalf of the Board of Directors of Broadway By the Bay, and our staff, come join us for over two hours of non-stop music from the '50's and '60's. The cast and orchestra will bring you "Poison Ivy," "On Broadway," "Stand By Me," and over 30 of your favorites from this magical time in our history. The run closes this weekend, with final shows on:
- June 17, Saturday at 2:00 (w/ASL) and at 8:00 PM
- Jun 18, Sunday at 2:30 PM
Friday Night Concerts!
Yes, it is that time of year again when Redwood City brings back their Friday night concerts on Courthouse Square. The first concert was on June 1, and the fun runs through summer.
For more information on the City's summer programs and events, go to www.redwoodcityevents.com.
Yes, it is that time of year again when Redwood City brings back their Friday night concerts on Courthouse Square. The first concert was on June 1, and the fun runs through summer.
For more information on the City's summer programs and events, go to www.redwoodcityevents.com.
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Save the date for Broadway By the Bay's Annual Gala
Sunday, July 23, 2017 On behalf of the Board of Directors of Broadway By the Bay, mark your calendar and make plans to join us for Broadway By the Bay's Annual Gala - A Taste of Broadway! Music, food, wine and song will entertain you as we share stories from alumni, and tempt you to support Broadway By the Bay with unique auction items ranging from show tickets to your very own part in an upcoming production. Tickets will be available at www.broadwaybythebay.org or click here. |
