Stunted development and tough economic times have contributed to a $300,000 budget shortfall in the city of Wayzata, and council members are searching for the best way to bridge the gap.
“Services such as floral displays, communication publications, and TV broadcasts are all on the table,” Wayzata Mayor Ken Willcox said after Tuesday’s budget workshop.
The council has not made any decisions on what action will be taken yet, but Willcox said the city will need to pursue opportunities to share services with neighboring communities.
In addition, spending will be frozen on previously authorized “nice to have” projects.
Roadwork will continue, but the city plans to temporarily reduce some of its involvement in the Community Investment Program (CIP).
The ongoing decline in development is a significant concern for Wayzata officials.
"Development projects typically generate fees that constitute an important share of the city's revenues,” Willcox said. “To plug that gap will require that we examine opportunities for reductions across the spectrum of our services, resources and capital investments."
In addition to promptly enacting reductions, Willcox said the city is also exploring revenue-generating opportunities, such as selling municipal services.
Stay tuned to Wayzata.com for all the latest Wayzata budget issues.