pages: CityCouncil/2009-05-19.pdf, 8
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CityCouncil | 2009-05-19 | 8 | Mayor Johnson stated larger cities do not have a lot of cash because obligations are so large; small cities do not have extra cash; mid-sized cities are the easiest target. The Interim City Manager stated that larger cities are self-insured and cash is protected to pay claims larger cities are in a cash strapped situation; Alameda can weather the storm if the situation lasts for a year now the State is coming after larger revenues to deal with structural deficits that have occurred over twelve years. Mayor Johnson stated the public should know the amount of money diverted by the State in the last seven years. The Interim City Manager stated the State has taken approximately $53 million from the City since the last recession. Councilmember Tam stated cities were supposed to inundate the State with a thousand calls after the Governor released the May revise. The Deputy City Manager stated that she made her case outlining how the Governor should look elsewhere for monies; that she requested local realtors and the Chamber of Commerce to call; the Chamber of Commerce alerted business associations to call; the Governor did not restore the Vehicle License Fee. Vice Mayor deHaan stated the Vehicle License Fee was paid back quickly in the past; inquired how much is the AMP note. The Interim City Manager responded the AMP note is the difference between the 0.4% and 1% [ROI] for the last thirty-six months, which is about $1. 2 million and does not include the loan to start the telecom enterprise; a reasonable repayment schedule needs to be reviewed. Councilmember Tam stated an appropriate approach would be to give direction to: 1) not pursue further workforce reductions; 2) review creative ways to delay calling in AMP loans; and 3) review ways to delay funding the internal service fund debts. The Interim City Manager stated the City needs to stay very alert and frosty; cities will need to speak louder than before. Mayor Johnson stated there are a lot of unknowns; cities need to be very careful. The Interim City Manager continued the Power Point presentation. Councilmember Tam inquired whether the City could make money by Regular Meeting Alameda City Council 8 May 19, 2009 | CityCouncil/2009-05-19.pdf |