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STATEWIDE FINANCIAL CHALLENGES HIT HOME <br />Revenue is increasing, but not enough to fund upcoming costs <br />Downtown a bright spot compared to S years ago.... <br />• Downtown property tax up $5 million/year <br />• Downtown sales tax up $2 million/year <br />...But changing consumer behavior is affecting key City revenues <br />• More people are spending money on housing or services, rather <br />than taxed goods =weaker sales tax <br />• More people are choosing video streaming rather than cable <br />services = weaker utility users tax <br />Redwood <br />City <br />