pages: CityCouncil/2009-07-21.pdf, 3
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CityCouncil | 2009-07-21 | 3 | 1% to 0.43363% for Fiscal Years 2006-07 through 2009- - 10 and Exempting the Golf Fund's Return on Investment Entirely, Effective Fiscal Year 2010-11. Finally passed. (*09-302) Ordinance No. 2999, "Amending the Community Improvement Plans for the Business and Waterfront Improvement Project and the West End Community Improvement Project to Make Technical Clarifying Changes. Finally passed. (*09-303) Public Hearing to Consider Resolution No. 14368, "Approving Tentative Tract Map No. 8015 (File No. PLN08-0507) at the Alameda Towne Centre. Adopted. CITY MANAGER COMMUNICATIONS (09-304) FY 08-09 Year End and FY 09-10 Annual Budget - Remaining Challenges. The Interim City Manager gave a brief presentation. Councilmember Gilmore stated the State will not get serious about fixing budget issues until City, County and Redevelopment Agency funds are depleted. Councilmember Matarrese stated school boards, councils, and special districts have had to raise taxes to survive; budgets cannot be prepared using previous year plus growth. The Interim City Manager stated every day will be a conscious budget day. In response to Councilmember Matarrese's request, the Interim City Manager stated at the beginning of the year, PERS advised the City that rates could increase by 2% to 6% now, PERS is saying that rates could increase by 6% to 12%; the City will need approximately $5.5 to $6 million in Fiscal Years 2011-2012 and 2012-2013 to pay for past PERS' obligations. Mayor Johnson stated PERS modified some investment strategies and parameters; people need to understand that PERS takes no risk; PERS comes back to cities for more money when investments go bad. The Interim City Manager stated losses discussed earlier in the year were based on the [stock] market crash and did not include the real estate market; PERS has become a quasi-banking entity in California; cities will drop out of PERS in the future. In response to Mayor Johnson's inquiry, the Development Services Regular Meeting Alameda City Council 3 July 21, 2009 | CityCouncil/2009-07-21.pdf |