In 2011, the future was looking grim for Redwood City's economy. We were facing a $2.6 million budget deficit that was predicted to grow to $6 million by the end of the '14-'15 fiscal year. Through negotiations during the budget cycle, city workers even ended up forfeiting nearly $5 million a year in salary and benefits to help reduce the deficit.
Well here we are in 2015, facing what Outgoing City Manager Bob Bell says will be about a $4 million dollar surplus by the end of the fiscal year. The health of the economy is such that the budget is balanced for the next 5 years, with 15-20 percent of it going straight to reserves.
According to Bell's '15-'16 budget report, the city is expected to see $106.4 million in revenue in the coming year - a 6% increase from last year. The lion's share of that revenue - about 60% of it - will be spent of police and fire services. Another $29.4 million chunk of it will be allotted to the city's capital improvement budget. The city has 58 projects on its capital improvement list, including:
-addition of two police officers
-The creation of a new senior shuttle program to downtown events
-playground renovations
-turf replacement
-street resurfacing
-sidewalk repair
-Increasing branch library hours for Schaberg Library and Fair Oaks
-Expanding children focused library programs
-Increasing tree and sidewalk maintenance services
-Increasing street sweeping to two times per month
-Increasing building inspection and code enforcement services
-The creation of a parking and traffic demand management position
-Expansion of the city’s communication program
-The creation of a new endowment for nonprofit grants to support human services financial assistance
-An addition of a deputy city attorney and other legal resources
-The creation of a new senior shuttle program to downtown events
-playground renovations
-turf replacement
-street resurfacing
-sidewalk repair
-Increasing branch library hours for Schaberg Library and Fair Oaks
-Expanding children focused library programs
-Increasing tree and sidewalk maintenance services
-Increasing street sweeping to two times per month
-Increasing building inspection and code enforcement services
-The creation of a parking and traffic demand management position
-Expansion of the city’s communication program
-The creation of a new endowment for nonprofit grants to support human services financial assistance
-An addition of a deputy city attorney and other legal resources
What's the Significance?
It's easy to get frustrated with the traffic, the increased population, and the all around commotion that Redwood City's rapid development has brought about over the past few years - it happens to me on a regular basis. But City Manager Bob Bell's farewell budget report represents the bigger picture. The long term gains are coming into focus. Increased tax revenue and direct payments from developers are affording us the ability to make significant investments back into our community - whether it be into infrastructure, education, recreation, or security. Public services that were cut from the budget out of necessity years ago are being brought back to the table. It isn't just downtown that is benefiting from the boom - it's the city as a whole.
And while traffic and construction will continue to frustrate me so long as it persists, I find myself excited for the Redwood City of the near future, when the scaffolding has been torn down, the cranes have moved on, the roadblocks have cleared, and the capital improvements have been made. Not only do I see a flourishing downtown at the center of cultural relevance in the Silicon Valley, but I also see a vibrant suburban community growing along side it.
