2009 LOVERIDGE STATE OF THE CITY ADDRESS

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In 2008 we opened the City's Emergency Operations Center. This state-of-the-art facility serves as the centralized point of coordination during times of crisis. Chief Tedd Laycock says there is no better city emergency center in Southern California. Last, Riverside is an award winning high tech City Hall. There is no better IT Director than Steve Reneker. Go to the SmartRiverside website. Projects include wireless connectivity everywhere in our City, free wireless computers for low-income families, and video security in our parks, intersections, and City facilities. With a cup of Starbucks coffee, the Information Technology Strategic Plan is even a good read. Bad News Trumps Good News Unfortunately, in 2009, bad economic news trumps good news at City Hall. This is the nation's worst economic time since the Great Depression. The Inland Empire is in the center ring. With unemployment near ten percent, we have the highest rate of any major metropolitan region in the country. Here is an NBC interview.... Foreclosures rank near the top in the nation and in Riverside they total over 3,600 since July 1, 2007. John Husing, our economic analyst, champion, and friend, says "2009 will be the worst year in the modern history of the Inland Empire." The local economy is likewise burdened by the uncertainty of the State's budget and its economy. Mac Taylor, newly appointed State Legislative Analyst and former Poli Sci major at UCR says, "The state's revenue collapse is so dramatic and the underlying economic factors so weak that we forecast huge budget shortfalls." The shortfall now is $42 billion, and counting for the 2009-10 budget. There is real economic pain, at the kitchen table, your next door neighbor, businesses large and small. Effects vary, but economic pain is everywhere we look in Riverside. At City Hall, we would be cheering a $240-250 million dollar budget if good times were here. Instead our budget for 2008-09 went from $228 million to $214. Given latest revenue reports, we must meet a new budget of $200 million. Sales taxes are down, property taxes are flat, and fewer fees are being collected. Still, the City has a rainy day surplus of $44 million, a high reserve percentage found in few other cities, large or small, in California. We will continue to deliver high quality city services, but we must also seriously "tighten our belts." Economic Steps Toward Recovery In 2009, we must take economic steps toward recovery. We should be a driver rather than a passenger along for the ride. Economic development efforts should be focused, smarter, and more inventive. Economic success is an imperative for Riverside. We compete, and seriously so, with other cities and other regions. Economic recovery will not happen at the same time or in every place.