Providence city council mortgages the future
This fictitious scenario is a perfect example of how the City of Providence is handling the budget. Last night, they approved a package of 3 loans which total $50 million. The city will use fire stations, vacant land, Providence Water's headquarters, and decorative streetlights as security for the loan. The sale-leaseback program for the streetlights will raise $14.5 million, but will cost $16.4 million once it is repaid in 7 years. Another $2 million out the window.
David Ciciline and the City Council passed this disgraceful plan because it is an election year, and they didn't want to be seen raising taxes. Many of the council members are facing reelection in November, and Davd Cicilline will be running for Congress in the first district. Of course, some people just don't get it. They feel the only way to balance a budget is by raising taxes to match expenditures. It never occurrs to them that they could actually cut spending:
“I’m not happy with the proposal, but we’re facing extreme circumstances. It’s a terrible time to raise taxes,” said Councilman John J. Igliozzi.
“It’s a difficult and unpopular decision,” said Councilman Luis A. Aponte. “But there is not a lot out there. We’ve been dealt a bad hand. This is the right thing to do to move this city forward.”
Luis Aponte's comment is particularly shocking. He talks about the "bad hand" Providence has been dealt, which I assume is a reference to cuts in state aid. Mr. Aponte has been on the council for quite some time, so any "bad hands" were dealt mailnly by him and his colleagues. The state has been cutting aid gradually over the past few years, and warnings have been given. Why not begin planning for the worst case scenario earlier? Of course, we all know the reason why.
One third of the Council isn't seeking reelection, and the Mayor is a lame duck, so they're just content to make it look like they're doing they're job, and they'll push it onto the next administration and Council members.
These people aren't leaders. Leaders aren't afraid to make tough decisions, and will put the well-being of the City before their own. The Mayor and Council are littered with self-interested cowards who take the easy way out and mortgage the future for a quick fix.




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