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Notes from the budget passage

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Prior to laying out a budget proposal that was quickly approved by the City Council last night, Mayor Charles Meeker handed out copies of an MSNBC feature that merged all the "best places" rankings together to come up with the best places list to end all best places list. (Essentially, the author unscientifically combined the best lists from Forbes, Kiplinger, Money Magazine, Fortune and Relocate-America.com.) And guess who ended up on top? That's right. Raleigh, North Carolina.

Meeker used this press clipping to argue that such a ranking was in no small part due to the recent decisions made by the City Council to tear up Fayetteville Street, build the convention center and make other major investments in the city. According to Meeker, the city is at yet another crossroads now and needs to keep investing if it is to stay on top of the rankings. (Just think what Raleigh will be ranked after the new public safety center gets built!)

Meeker went on to make one of his more astute political moves in recent years. He took the money that will be raised from the recently enacted higher impact fees and put it towards paying down the city's debt. This enabled the council to reduce Russell Allen's proposed property tax increase from 5 cents to 4.18 cents. Granted, the decrease is less than a cent, but it allowed Meeker to make a connection between higher impact fees and lower property taxes. The move was sort of a local version of President Bill Clinton announcing that the budget surplus should be used to save social security.

A final note: The only two council members who voted against the budget were Philip Isley and Russ Stephenson. Bonus points to the person who can come with another vote when those two ideological soulmates represented the only opposition on an issue.

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About the blogger

Business reporter David Bracken came to the N&O in 2004. He covers commercial and residential real estate. Contact David at 919-829-4548 or e-mail him.

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