City of DeKalb is thinking of cutting Re:New DeKalb’s funding.

The second change is a reduction in funding to Re:New DeKalb from $50,000 to $45,000 annually.

“This is in consideration in both a reduction in human services funding and as a first step for Re:New DeKalb to be fiscally independent from the city by Fiscal Year 2012,” Espiritu said.

Currently, Re:New is funded by the economic development fund, which relies solely on hotel-motel tax revenues.

If this budget is approved as it stands so far, human services funding will be cut 25%, not 10%. That’s not a very good start on Re:New, then, especially if they indeed propose to phase out the allocation completely within three years. Let’s also make clear that Re:New will never be self-sufficient of tax dollars in any real sense, as its raison d’etre is to spend TIF dollars and its staff enjoy benefits through NIU.

Stay tuned–more on this and other budget matters next week.

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Proposed FY2010 Budget.

Neglected Financial Consultants’ (EPI) Report.