Concerning funding a new Diman, according to the city charter, any capital project that’s in excess of $5 million “requires” a special election so that voters can voice their opinion on it. Handing off this responsibility while spending money which Fall River does not have won’t benefit the taxpayers. We have a responsibility to them and that requires planning with proper decision making. History has shown that poor financial planning produces unnecessary outcomes!
If there was anything that our public officials should have learned after coming out from Covid-19 is to tighten the belt and reign in unnecessary spending. Once ARPA money runs dry, reality will set in Fall River and tough decisions will have to be made. Just last year the former CFO told everyone that Fall River is expecting structural deficits for subsequent years to come. All of Mayor Coogan’s pay raises will become even more expensive to tackle and they won’t be sustainable long term. Again, no real benefit for the taxpayers!
With the rising cost of basic necessities due to inflation, a possible recession might come as well and that will make this time even more cost constraining. That is why Fall River’s taxpayers cannot afford a new Diman. The mayor will soon force again more tax increases and Durfee’s payment to follow is going to show why taxpayers cannot afford TWO school debt payments. The Southcoast Rail coming next year will raise the cost of living and property taxes even more because home values are expected to increase as well. The path that we are on is just not financially feasible for our taxpayers to deal with at all. Why make our grandchildren bear the cost of today’s poor financial decisions? Elected officials have a fiduciary obligation to make sure Fall River will be better off for them to inherit!