Under increasing financial strain, Belvedere charts long-term solutions
Facing mounting costs from police and fire services, pension obligations and unfunded state mandates, Belvedere officials are exploring multiple strategies to create more financial flexibility and plan for the city’s future.
During their annual retreat on Feb. 13, staff and members of the City Council discussed options including increasing user fees to potentially becoming a charter city and developing a nonprofit funding wing while also considering the development of a comprehensive infrastructure plan to manage costs over the next 20 years.
According to a report from Administrative Services Director Helga Cotter, about three-quarters of Belvedere’s annual revenue comes from property-tax revenues, providing a stable, predictable tax base. However, the city lacks tax money from commercial and retail activity, which limits its revenue streams.
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