In a recent government meeting, officials discussed a proposed allocation of $9 million to enhance neighborhood infrastructure, with a focus on traffic calming measures. Each ward would receive $1 million to implement solutions such as speed humps, rumble strips, and radar signage aimed at improving public safety. The discussion emphasized the importance of prioritizing neighborhood improvements over downtown projects, despite ongoing calls to increase foot traffic in the city center.
Officials highlighted the need for measurable outcomes to justify investments in downtown initiatives, questioning how increased visitor numbers would translate into higher tax revenues and business growth. The sentiment expressed was that infrastructure improvements in residential areas should take precedence over downtown developments.
Additionally, the meeting addressed the city's rising insurance costs, with liability insurance premiums reaching $3.8 million and workers' compensation insurance at approximately $4.1 million. The deductible for claims has increased significantly, now set at $2.5 million per claim, which poses a financial challenge for the city. Officials noted that the stabilization fund aims to mitigate the financial burden on departments from settlement costs and insurance claims, with a long-term goal of building a robust fund similar to the county's $30 million stabilization reserve.
The discussions underscored the city's commitment to enhancing public safety through infrastructure investments while navigating the complexities of rising insurance costs and the need for fiscal prudence.