The Town Council will be discussing the upcoming budget at the Dec. 17 meeting. As reported in The Explorer, we can expect to hear that the coming year will bring a deficit of $2.7 million.
We're sure there are a number of things the council can consider to help alleviate this deficit. Hopefully, some things will be implemented.
It won't help now, but there is no doubt the "giveaways" that were voted in for retail developers in 2004 and previously are having a negative impact.
Giving away $300K+ a year to the Hilton El Conquistador for no reason certainly doesn't help with this shortfall. Giving Vestar, Bourn Partners & Diamond Ventures almost 1/2 our sales tax revenue is also a negative factor.
At least the majority of this present council realizes this, although it's too late to help.
Read the Explorer article here.
http://www.explorernews.com/articles/2008/12/17/news/doc4948363a87324589500542.txt
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