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Vallejo. Lorelei Penera December 8, 2011 PA 750. Government History. Population: 121,000 Originally a Naval Shipyard- Mare Island Closed in 1996- Effected Economically Seven City Managers in from 2004-2008 Major Government Funds Housing Authority and Mare Island Enterprise Funds:
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Vallejo Lorelei Penera December 8, 2011 PA 750
Government History • Population: 121,000 • Originally a Naval Shipyard- Mare Island • Closed in 1996- Effected Economically • Seven City Managers in from 2004-2008 • Major Government Funds • Housing Authority and Mare Island • Enterprise Funds: • Water, Local Transportation, Sanitation/Flood Control, Marina, and Golf
Bankruptcy • Filed May 6, 2008 • Solvent until June 30, 2008 (End of FY) • General Fund was depleting • Police, Fire, Development, Public Works, Administrative Services, and Community Organizations • State diverted their local revenues • Affected by housing crisis and economic downturn
Major Creditors • Union Bank • National Public Finance Guarantee Corporation • Retirees
5 Year Plan • November 1, out of bankruptcy • Union Bank – Repaid principal $46 million, interest will drop • National Public Finance Guarantee Corporation (differed payment) • Retirees (5-20cent/dollar) and will pay more health plans • New Fire and Police have lower pension plans and no more staffing levels
Taxes November 8th Approved • Measure C- Tax on Marijuana businesses Rejected • Measure B-Collect 1 cent increase on sales tax • More Businesses are Coming • Toys R Us, Blu Homes • Leverage Napa Valley and surrounding communities
Final Thoughts • Try Measure B again- only lost by 64 • Out of bankruptcy and need to continue funding to revitalizing city • Lure More Business for taxes • Increase civic organizations and community capacity because of increased crime
References Bulwa, D. & Jones, C. (2008, March 10). A Closer Look at Vallejo’s woes. San Francisco Chronicle. Retrieved from http://articles.sfgate.com/2008-03-10/news/17166099_1_vallejo-city-manager-s-post-city-hall Church, S. (2011, July 29). City of Vallejo, California, Wins Court Approval of Reorganization Plan. Retrieved from http://www.bloomberg.com/news/2011-07-28/city-of-vallejo-california-wins-court-approval-of-reorganization-plan.html City of Vallejo website, http://www.ci.vallejo.ca.us KTVU, (2011, November 9). Vallejo Voters approve taking medical marijuana sales. Retrieved from http://www.ktvu.com/news/news/local-govt-politics/vallejo-voters-approve-taxing-medical-marijuana-sa/nFZGt/