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EDITORIAL: Question #8 (Providence), Chaotic $40 Million Request for “Infrastructure”

Sunday, November 06, 2016

 

This request for borrowing by the Administration of Jorge Elorza has been chaotic from the start.  

The use of the funds was never defined and the Mayor tried to push the request through the City Council at the last moment.

It has gone down since then. Providence schools, roads, recreation facilities and public safety buildings literally have a billion dollars worth of needs.

“I’ve been deliberating this since July, and as a member of the finance committee and as Council President Pro Tempore, I take this matter very seriously,” said Councilwoman Sabina Matos. “In recent months, I’ve grown more and more concerned about the city’s finances. Even Governor Raimondo has recently expressed concerns about the city’s finances and unfunded debt liabilities. Last week, Moody’s Investor Services stated that any further reductions to the city’s reserves ‘will result in strong downward rating pressure.’"

Sadly, Providence has no plan, no strategy and little clarity. Voters should fear that this drop in the bucket will be wasted. Nearly all of the members of the City Council have now publicly called for this ballot item to be defeated. There are simply too many questions.

GoLocalProv urges Providence voters to reject Question #8.

 

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