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PRIORITY GOAL #5 Be more innovative in securing► the city's financial security; enhance & expand utility assets to strengthen economic development OVERVIEW: Decatur has experienced a decline in population as more people leave the State and the city.This directly impacts several categories of General and Special Fund revenues,as well as revenues distributed by State and Federal governments to social service agencies in Macon County. The city of Decatur's budget has structural flaws (unsustainable public safety pensions, service delivery plans based on a larger population, high amounts of deferred maintenance,etc.) that require the city to vigorously pursue operational efficiencies,find new revenue sources, aggressively pursue annexation to drive up census numbers, and revisit whether or not existing service-delivery levels should be maintained "as-is" or modified to beep the city on a sustainable financial trajectory. Financial innovation requires going outside normal and historic practices. Key Implementation Strategies: 1. Make long-term investments in utility infrastructure targeted to attract new employers that need the utility assets Decatur has to offer. 2. Examine and implement, as council directs, new revenue streams that will offset the need for future spending cuts and slowly shift reliance away from property,food & beverage and utility taxes.These include: a. Exploring city operation of utilities not under the city now b. Examining ways to monetize the large silt pile located east of the lake and created by the dredging project, and monetizing other city assets c. Auditing existing tax mechanisms, not to increase taxes generally, but to make them more equitable,efficient and evenly applied d. Develop a sustainable plan to finance neighborhood revitalization at existing levels. 3. Increase the local tax base with large new and rehabilitated housing developments, and bring new workers to Decatur,and new businesses of all sizes. Page 7