2001 LOVERIDGE STATE OF THE CITY ADDRESS

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moment. For the next several years, the issue of electrical rates and the reliable delivery of electric power will be the centerpiece of California public policy. Riverside Public Utilities enhances the City's ability to compete for business as well as for residents. Because of long-term generation contracts, we can otfer predictable reasonable, and stable electrical rates much lower than Edison's. In fact, as the only major city in the Inla Empire with a municipal utility, we are uniquely positioned to secure our economic future if we plan and manage wisely. As Mayor, I extend the city's warmest welcome to our new Public Utilities Director, Tom Evans. He comes with exceptional managerial credentials. The Riverside Public Utilities management and delivery of services compare well with the best practices in both the public and private sectors. How do we know? Because Public Utilities annually compares its own operations to municipal and investor owned utilities as a way to improve overall efficiency and effectiveness. We need to carry this sound management practice into other areas of city government. A second success story - and one we will be enjoying for a long time - is the University Research Park, the result of a City, County and UCR partnership. No longer just a good idea, it is now open for business and poised for the future. The first three tenants are Centrum Analytical Services, an environmental chemistry lab, and Applied Digital Solutions and Surado Solutions, both expanding software development firms. Other high tech firms are lining up for sites in the University Research Park and surrounding Regional Technology Center. I'm certain that UCR, RCC, California Baptist University, and La Sierra University will prove to be the City's most important and distinctive resources in the 21 st Century. The emergence of the Research Park - combined with our higher educational assets - will help position Riverside as a center for high technology and the New Economy. THE AGENDA FOR CHANGE Although the record is too long to recite today, we've achieved a lot together in the past seven years. And, I believe Riverside's greatest years lie ahead. The puzzle for the future can be reduced to two simple questions: Where do we go? And how do we get there? I have no magic formula, but my 20+ years of public service convince me that for a city to be great, its foundations must be sound. As you may have read, I will be a candidate once again for the office of Mayor. I pledge to focus my final term, if I am returned to office, on three essential needs, economic development, parks, and libraries. All of these areas have enormous economic implications. As I've t 0U ht about hefe I could devote my efforts, these challenges seem to me to be the most pressing and the most promising. Economic development. When I first ran for Mayor in 1993, I emphasized that Riverside must become known as the best place to do business in the Inland Empire. After over 180 business visits, ~ know we're not there yet, despite good efforts and good intentions. We must continue to press for Downtown improvement and the revitalization of Riverside Plaza, not letting up until these two key areas of the City 2