Platform - Fiscal prudence

Details

  1. The Town has allowed large liabilities to build up with no plan to cover them:

    • $ 56M in unfunded pension and retiree health care liabilities (UAAL).

    • $ 161M in CIP (Capital Improvement Program) requests that the Town hopes to fund over the next 15 years.  For details, click here.

  2. Increasing transit costs.  We can't afford to repair/replace 40 old buses.  We don't have money to grow transit to meet new needs.  Federal and State funds for this purpose are shrinking.  We're approving new developments, but we don't have the money to serve them.

  3. Unknown costs to resolve flooding and traffic issues.

  4. School district budget outlook looks bleak.

  5. Presumed underestimates of Ephesus-Fordham road and services costs.

  6. Low commercial tax base (Chapel Hill is 18%; Durham is 40%).

  7. The Town gave away 8.5 acres of land (worth $ 2M) for $ 100 to DHIC for affordable housing.

  8. The Town spent a considerable amount of money on out-of-town consultants in 2013 - $ 240K to develop FBC for EF.

Proposed Solutions

 

  1. Town needs to develop a strategy that will grow high paying jobs.  We're just building mixed use - which gets you nothing.  Town leaders should seek commercial, research, and light industrial development.

  2. Address the non-profit issue.

  3. Prudent spending (e.g. use local consultants, cut funding to low priority items).

  4. Develop a realistic funding plan for the transit services needed to prevent traffic gridlock.

  5. Do a "development impact analysis" on each proposed future development.

  6. Improve accountability.  Budget review plans should be open to the public.

  7. There needs to be realistic plans for funding retired employee health costs.

  8. Improve maintenance of infrastructure.

 

 

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