Pat Flannery wrote:
My question to you is this: how will you explain to your constituents, at their doorsteps, how the City will repay the $1.2 billion pension deficit without cutting the services they are so rightly clamoring for?
First, please know that until I read your entry this morning, I was unaware that you are a Realtor, that you were at the Realtors meeting or that you were not allowed to stay. Nothing was said of it while I was in the meeting.
Your question about the pension is a good one. The pension problem isn’t solved. It has, however, been stabilized through the efforts of the mayor and the retirement board.
The new requirement of the retirement board is that the city’s annual payment must be sufficient to pay all interest on the outstanding debt. In other words, we have finally gotten to the point of no negative amortization. The debt itself is being amortized over 20 years. This means that approximately two years from now, the debt will begin decreasing as a result of increasing payments. The increasing payments will be made from increasing city revenues.
Meanwhile, we need to modify the city’s defined benefit retirement plan as it applies to new hires.
While keeping the pension debt stabilized, we need to move aggressively on the deferred maintenance backlog because it is increasing at a rate greater than 8 percent annually. When you have two types of debt/backlog with one increasing at 8 percent per annum and one increasing at 12 percent per annum, it makes sense to tackle the larger one.
Live There wrote :
Specifically, what would you do to eliminate the mini-dorm issue in District 7? We all know the mini-dorms are an issue. Your definition of the problem is not new. We need solutions. If you have an actual plan, now is the time to clue us all in.
Dear anonymous post,
Here is my plan:
2) Pass the Rooming House Ordinance
3) Continue reviewing High Occupancy Permit requirements. If legal, then implement.
4) Get the Paseo project back on track
5) Initiate discussion with CSU as to their policy of ever-increasing enrollment with no new campuses. South Bay wants a campus and it would provide relief to SDSU and the surrounding community. Other impacted communities within the state should be our allies on this topic.
I’d like to know your connection to Dick Murphy. After all, appointments from mayors don’t happen to joe citizen, only to insiders with connections. What’s yours?
The answer to your question will be included in my next blog later this afternoon.
— APRIL BOLING