From: Laurie alderman
Sent: Tuesday, November 26, 2024 12:01 AM
To: Kevin Patterson <[email protected]>; Damien O'Bid <[email protected]>; Laura Sparks <[email protected]>; Chris Simmons <[email protected]>; Susan Harvey <[email protected]>; Sylvia Lemus <[email protected]>; Kay Rivers <[email protected]>; Craig Scott <[email protected]>; Ben Ford <[email protected]>; John Bakker <[email protected]>; Angela Courter <[email protected]>
Cc: George Barich ; Noah Housh <[email protected]>; Michael Ceremello Ceremello
Subject: public comment on 11/26/2024 council meeting 11 B Discussion on enhanced infrastructure financing districts.
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Not knowing much about this topic, I contacted some of my state level contacts for information. The most relevant reply:
Enhanced Infrastructure Financing Districts were created as a replacement for redevelopment agencies. The whole purpose is to avoid voter approval. We can easily see the result by looking at the horrific financial footing of cities like Cotati Jon
Jon Coupal, President
Howard Jarvis Taxpayers Association
His comment was after I sent him this graphic:
Plus, I relayed to him that the City of Cotati is maxed out on add-on sales tax, plus taking out the 2022 bonds that put up our streets and public buildings as collateral.
These balloon payments on the police station with redevelopment funds happening for the next ten years, has been known since 2004 when the bonds were taken out. It should not be a surprise. It seems these financial districts would be the only way left to float more bonds for the police station balloon payments and other infrastructure needs. This would mean extending the life of the police station too, probably making it 40 years old in the least before it is paid off.
Our city hall is 101 years old. In the 1960s it was sold cheap to the fledging city by the school district, as it was deemed not earthquake ready enough for a school. The Community Center is at least 50 years old (old Cotati School). How long can these buildings last with no funding/saving for a new city hall or community center, plus pay off the police station and the Cotati Room?
This is bad financial planning for many years, as it was known that this was coming. What is the long term viability of staying an independent city with all of this debt and no way to fund a new city hall, etc.?
Sincerely,
Laurie Alderman
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