Where are we going?
Even as mixed reports continue on the nations economic health, questions are looming about the citys financial picture.
Weve been down this road before. The city nearly went bankrupt in the early 90s, and it took years to dig out of that hole. After enjoying a period of fiscal responsibility, including building several much-needed municipal facilities, were now sliding back down the path toward deficit spending.
Take the community center. Were on the hook for 20 annual payments of $888,880, but the funds those monies come out of are projected to go into the red in the next 3-5 years.
Thats only if the economy doesnt pick up, councilmembers argue. And if it doesnt?
Even as the new community centers funding is a big question mark, the council just approved paying a consultant $20,000 to research whether Mukilteo voters would approve a levy to purchase the remainder of Japanese Gulch and, if so, how much theyre willing to pony up.