2018-2019 Adopted Budget

CITY MANAGER’S BUDGET MESSAGE

Mayor and City Council, City of Greensboro

May 15, 2018

Council Members: This year’s budget provides strategic investments in our community and for our employees. As a City government and team, we continue to work together to create an environment for sustained economic growth and vitality, high quality of life, and exceptional public safety for our citizens, businesses, and visitors. We accomplish this through our daily efforts to provide high quality services, living our core values (honesty, integrity, stewardship, and respect), and through a continuous focus on customer service excellence and improvement. In addition, we continue to monitor both our cost of doing business and the level/quality of the services provided to ensure our residents continue to receive value for their tax dollar, both in absolute terms and when compared to our peer cities. For FY 18-19, this budget supports both the Council’s and community’s top service priorities, while responding to the many operating and capital needs of our organization. Per Council direction on April 18, 2017, the recommended budget fully funds the 2008, 2009 and 2016 bond referenda passed by Greensboro voters. Even while maintaining the current tax rate of 63.25 cents (for the ninth consecutive year) the budget ensures sufficient resources for timely completion on 2008 and 2009 projects, and soon beginning activity on 2016 projects. The recommended budget also includes several Council directed employee compensation items that ensure our salaries remain market competitive, including advancing minimum wage for all benefitted employees to $15/hour, or $31,200 annually for full-time employees, as well as pay structure adjustments for all employees. In addition, this budget provides necessary resources to support several critical outside agency requests, ensures the City organization can continue to properly maintain our existing facilities and infrastructure, necessary technology upgrades to ensure we continue to operate effectively and efficiently, maintains the City’s AAA bond rating, and properly values and recognizes the many important contributions of our outstanding City employees. As a City team, we look forward to working together to continue to grow Greensboro as a city where residents and visitors can live, learn, play, and do business. One City, One Team!

The City of Greensboro’s approach to economic development focuses on advancing these key principles: promoting job creation, facilitating private business and expansion in our city, and providing enhanced access to City contracting opportunities through the continued implementation of our enhanced Minority and Women’s Business Enterprise (MWBE) program. In December 2016, City Council adopted an Economic Development Focus Strategy identifying areas of interest and emphasis, such as Piedmont Triad International Airport, Downtown, Revolution Mill, and the Joint School of Nanoscience and Engineering. In November 2016, Greensboro citizens passed $126 million in general obligation bonds, $38.5 million of which are dedicated to economic development efforts. Projects included are downtown streetscape improvements ($25 million), further development for Union Square ($4.5 million), additional investments in east Greensboro ($5 million) and city-wide infill development ($4 million). The Economic Development (ED) Fund receives a dedicated one-half cent of the property tax, generating approximately $1.35 million annually. The ED Fund has previously provided support for the Renaissance Plaza Shopping Center and Community Cooperative Project. The fund also allocates about $500,000 for various economic development non-profits which request funding through the City’s Community Partners process. The FY 18-19 budget includes economic development incentive payments to HAECO, Ecolab and Charles Aris for existing industry expansion projects that will create at least 581 new jobs and capital investment of $95.6 million. Incentive payments are also included for Self Help Ventures Fund to support the redevelopment of Revolution Mill that has supported a capital investment of more than $85 million. City Council has approved economic development incentive support for a Publix regional distribution and manufacturing center with an estimated investment of $400 million and at least 1,000 new jobs. Construction is underway for the downtown Steven Tanger Center for the Performing Arts. The 3,000 seat multi-purpose performance venue is funded through a public/private partnership. The Center, which will open in 2020, will be located adjacent to the new privately financed Carolyn and Maurice LeBauer City Park.

Strategic Goals “Create an environment that promotes economic development opportunities and job creation.”

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