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Alder Scott J. Resnick

Alder Scott J. Resnick

Home Address:
661 Mendota Ct # 1404
Madison , WI 53703

Phone: 608-807-7962
district8@cityofmadison.com
Common Council Office:
210 Martin Luther King, Jr. Blvd
Room 417
Madison, WI 53703
Phone: (608) 266-4071
Fax: (608) 267-8669
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Capital Budget 2012: What's in it for District 8?

September 25, 2011 9:13 PM

The City of Madison faces some difficult decisions regarding our 2012 budget. It is no secret that property values have gradually declined and unprecedented cuts have been made by our state leaders. However, unlike many cities across the nation, Moody's reaffirmed Madison's Aaa debt bond rating and identified "the stable and diverse economy created by the University of Wisconsin-Madison" as a core strength. Although the City of Madison has to make cuts, we should have confidence in our thriving economic generators and the future of our community.

But taking a step back, what is the budget process and how does it impact District 8?

The budget process is separated into two major phases: capital and operating. The rule of thumb is that the capital budget contains major one-time projects or projects that involve obligated debt (ie: building a police station). The operating budget deals with yearly expenditures such as salaries and supplies.

In regards to the capital budget, below are some of the highlights in District 8 community:

  • State Street 700/800 Blocks- The blocks between Humanities and Memorial Library were scheduled to be reconstructed with updated sidewalks, pavement, lighting and street furnishing. After discussions with the mayor and recognizing other possible construction projects in the area at St Paul's the last phase of the State Street reconstruction project will be pushed back one year.
  • Frances Street- The reconstruction of Frances Street will remain on schedule. According to City Engineering the street is in above average condition for its age and will be relatively faster construction project compared to Lake Street.
  • Gorham Street- The area between Henry to State Street will be reconstructed and will include new pedestrian lighting, sidewalk replacement, new trees, benches and bike racks.

 

*It is important to note that $960,000 of the $1.04 million cost of the Frances and Gorham Street projects will be covered by the tax incremental district that contains U-Square.

On October 4th, the Mayor will release his operating budget. This element of his budget will contain forecasts for, among other areas, police spending, health and community services, State Street cleaning and operations, and Overture Center funding.

Regardless of the continued budgetary cut that will be discussed over the next few weeks, I am confident in the future of our community and our City's economic stability moving forward.
 




Tags: Budget

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