New and old city council meet for Saturday special meeting

This is supposed to be the Executive Partners, Inc. financial consultants’ report. Instead, it looks like EPI has picked up on the fact that DeKalb has a lot of plans without new revenues to support them. Core revenues are still flat. Since 2008:

— Water rates were raised four years in a row, yet can’t get traction because water consumption drops every year.

— Utility taxes have been raised twice, but revenues are still slipping.

— Property tax rates have been raised every year in order to keep the levy the same. Non-TIF property taxes are supposed to cover pension contributions, but they cover less every year and have to be covered by general revenues. Opening new TIFs, which almost everybody on council loves, will make this problem worse. The new housing regulations and NIU’s new campus residential rules will also worsen it.

— Illinois is contemplating claiming all income tax revenue growth instead of sharing it with the cities.

— DeKalb has already created new fines and fees and raised others — too many to list here.

Add to this mix upcoming new debt expenses. The first police station debt payment will come due in the summer, and now we’ve got library debt, too.

How much did the latest land acquisition deal at the airport cost? Is it time for another GF infusion to the airport?

Etc.

So, I think these revenue “opportunities,” if taken, would translate to “opportunities” to further shrink and bankrupt this town.

Please note I’ve been right before. During the municipal election campaigns of 2009, I said that DeKalb was heading for a financial crash. The local establishment pooh-poohed me. Then in February 2010, the city finally admitted they were on track to be $5 million in the hole and had to eliminate about 20% of the workforce.

Here’s to hoping the new council can do better than ruin people’s lives.