Herald Article on Lynnwood Fiscal Challenges

May 30, 2010 at 7:59 am Leave a comment

To support our work effort, I will be doing reconnaissance on issues and conditions in Snohomish County throughout the project.

A recent Snohomish County Herald article speaks to fiscal challenges facing the City of Lynnwood. It could be relevant to the financial ability of  local governments to support countywide and community economic vitality/economic development (EV/ED) efforts in the future. This situation can be interpreted a number of different ways relative to Project Concentrus:

Herald News Article Link: http://www.heraldnet.com/article/20100525/NEWS01/100529940/-1/rss02

Possible interpretations:

1. Could be argued that Lynnwood will need to rely more on countywide ED/EV resources in the future.

2. Could be argued that Lynnwood will be less able to support ED/EV efforts (its own or countywide) in the near term.

3. Could be argued that Lynnwood needs to encourage more ED/EV that pays its own way, and does not burden city financial coffers.

4. It appears the city is already raising taxes. How will this decision impact the Lynnwood’s future competitiveness for business investment?

5. This article supports Project Concentrus’ objective to leverage available economic development funding and increase the return on investment (ROI) from public and private sector funding.

I share this as an illustrative example to get us all thinking about local government fiscal conditions, and how they impact future economic vitality in Snohomish County. Are other local governments in Snohomish County facing similar fiscal threats?

What thoughts does this article spark in your mind?


Entry filed under: Local Government Fiscal Conditions, Lynnwood Washington, Snohomish County Reconnaissance. Tags: , , , .

National League of Cities on Local Government Finances

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