Peyton: City should cut staff and pension, raise taxes - Business First of Columbus:

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The city faces a $180 million budge gap after losing $100 million wortn of property tax revenue dueto Tallahassee-initiated property tax $40 million through the global economic crisis and $40 milliob in increased pension costs. Although the city isn’t at risk of defaultinfg on its bonds ormissing payroll, its spending model isn’t sustainable. Peyton said he will proposed to the City Council July 13 that it cutthe city’a operating budget by $40 million by reducing non-public safetu operating budget by 5 percent and eliminate more than 100 positions.
He also wantss to freeze pay for all city employees and give an unpaisd furlough of a week or two toall non-public safety Peyton said one way to modify the city’z pension plan, which has a $1.2 billion unfunded would be to reduce the 8.4 percent rate of have participants contribute and change the retiremeny age and years of service “We can no longer provide what no one in the countrty gets today,” said Peyton at the unveiling of the initiatived “ Fix It Now” at the Times-Union Performing Arts To plug the remaining $60 million budget gap, Peytomn said the millage rate will have to be increaserd from 8.
48 to meaning the average homeownef will spend $115 more next He said critics will say that in this curren t economic climate the city should tighten its belt by not raising taxee but by cutting its services. “That’zs not a plan,” said Peyton. “That’s a bumper sticker.” The cuttingg of services would reducethe city’s quality of which has been an economic Without the raised the city would have to closr two fire stations, five libraries, 10 communitt and senior centers, the Cecil Equestria n Center and The Ritz Theater and LaVilla Museum.
Withou t the revenue generated through the increased property the city would also have to eliminatwe itsrecycling program, cut children’s programs and reduce fundiny for special events, such as the Jacksonvilld Jazz Festival, World of Nations and Make A The City Council will vote to set the millagde rate July 28 and the city’s budget needz to be approved by Sept. 27. For more informatiobn on Peyton’s plan, check out