Keeping Belmont Financially Sustainable

By Christine Wozniak

Belmont currently has a surplus; unlike many Peninsula cities, we are solvent and well managed.

• Belmont is financially stable because it is well managed by the staff, because the council has held the line on spending, and because our staff has been willing to negotiate furloughs and other concessions to keep our budget balanced without layoffs. We have been able to maintain essential services, such as public safety and public works.

• We have strategically bought several parcels over the last four years. These city owned parcels will make it easier for developers to get a critical mass of land to aggregate and make development "pencil out" for them.

• In addition to Volkswagen Electric and Sun Edison, we have had many smaller businesses come into town. We also have two major developments in the planning stages: a major hotel/office development on the south east side of 101, and a mixed use development in the Firehouse Square area (the block containing the old firehouse).