Bridget Conant wrote:Dan OMalley wrote:Bridget Conant wrote:Dan OMalley wrote:I hope everyone would agree how critical this funding is to Lakewood, and to the low- and middle-income residents it aims to serve.
We should also bear in mind that the Trump administration has designs on eliminating the CDBG program altogether:
https://www.freep.com/story/news/local/ ... 378871001/
I’m no fan of Trump, but posting a year old article to induce panic and deflect from the issue at hand is rather ridiculous. In fact, the Omnibus spending bill passed in March 2018 and signed by Trump INCREASED CDBG funding by 235 million dollars.
https://www.novoco.com/notes-from-novog ... nding-bill
Here’s a more recent one for you, regarding the FY2019 budget:
https://www.npr.org/2018/02/13/58525569 ... uts-to-hud
“[The budget] eliminates the Community Development Block Grant which local governments can use at their discretion to address a variety of community and infrastructure needs.”
Not sure how this is deflecting - seems quite on point. In any event I agree that we should strive to remain an entitlement community and that CDBG funding is critical.
Dan, Dan, Dan.....
Every year the talk is “eliminate the mortgage deduction, eliminate this or that.”
It’s talk. It’s bargaining. It’s sonething that may never happen. It’s 2019.
Let’s see how it plays out.
I’m more worried about how this city seems to be so entirely blasé when it comes to revenue. Is it because they figure they can just stick it on us stupid taxpayers yet again? I mean, it’s not coming out of THEIR pocket so what do they care? They couldn’t be bothered to apply for the Enterprise Zone money.
Let me elaborate on a few of the points highlighted in
blue above.
Once again, Ms. Conant hits the nail on the head. Each of us is attempting to gauge when the next local tax increase is coming our way and all the previous decision-points that led there.
1. We can start with trying to understand why the City of Lakewood was not eligible to become an Opportunity Zone under the newly-enacted federal tax legislation in 2017. Certainly, our low income metrics are high enough. Those metrics are described in all of the community health needs assessments that have been done on 44107. Lakewood's failure to participate in this program means that, in comparison with those communities that are eligible, Lakewood will be a less desirable place to invest. Investments made in Lakewood
will not enjoy special (favorable) capital gains tax treatment.
2. We can start with trying to understand why the City of Lakewood may lose its automatic federal eligibility to receive Community Development Block Grant funds as its population declines below certain threshold numbers.
3. We can start with trying to understand why the City of Lakewood chose to abandon certain public revenue streams under contract(s) with major area non-profit corporations and in doing so increased municipal costs for EMS services and other public safety costs.
4. We can start with trying to understand why the City of Lakewood decided to donate a public asset (the former hospital site) worth a minimum of $5,200,000 along with millions of dollars in site preparation costs to a private company.
5. We can start with trying to understand both why and how much the City of Lakewood plans to spend in public funds to provide financial, economic, or tax incentives to future occupants of One Lakewood Place.
With respect to points 3, 4, and 5, we can ask ourselves whether future local tax increases are merely future payments to cover the costs of prior public subsidies to private parties.