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CLK-Maria Vazquez <br />From: CLK-Pamela Aguilar <br />Sent: Monday, July 23, 2018 8:45 AM <br />To: CLK-Maria Vazquez <br />Subject: FW: RWC Deficit <br />i, LE b El V L: 0 <br />JUL 23 2018 <br />Gey of Eted No�xl G,ty <br />From: ian@ianbain.org [mailto:ian@ianbain.org] On Behalf Of Ian Bain ,,,,_ <br />Sent: Sunday, July 22, 2018 8:24 PM �n l �i�k �• <br />To: Andrew Byrnes <br />Cc: ICE Isabel Stenzel Isyrnes <IsabearZ7@pgmal1.com>; GRP -City Council <council@redwoodcity.org>; MGR -Alex <br />Khojikian <akhojikian@redwoodcity.org> <br />Subject: Re: RWC Deficit <br />Dear Andrew and Isa, <br />Thank you for reaching out to me express your thought on the recent mailer about the City's finances. Unfortunately, the recent mailer failed <br />to state the reason for the City's current financial position. The debt is related to pension liability, including the commitments that were made <br />on the state level. I am sorry that information was omitted on the last mailer, and I am working with my colleagues on the Council (copied), <br />as well as City staff to make sure that the reason for the budget shortfall is included on all city mailers going forward. <br />Because of pension and retiree medical debt, every city in California is facing this challenge. Redwood City, however, has taken a proactive, <br />fiscally responsible approach to paying down this debt rather than ignoring it. At the same time, we are also advocating for statewide pension <br />reform. <br />The City's approach includes both budget cuts and looking at options to increase revenue. Tomorrow night, the Council will consider whether <br />to put local sales tax on the ballot, along with a tax on legal cannabis. It will be up to voters to decide whether to approve these measures. If <br />the measures are not approved, then we will be looking at much deeper cuts to City services. <br />I hope that clarifies what was on the mailer, and if you tune in to tomorrow's meeting you can hear a brief discussion on this topic. After that, <br />if anything is still unclear, feel free to reach out to me. <br />Respectfully, <br />Ian Bain <br />Redwood <br />City i CaWeia <br />IAN BAI N <br />Mayor <br />City of Redwood City <br />Phone: (650) 780-7565 <br />E-mail: ibain(a),redwoodcitv.orL� <br />www. re dwo o d c i tv. o rf7 <br />