Another exciting meeting wraps up wow it was a doozy! This wasn't just a meeting there was some discussion on how inflation impacts local investments! (Hey! It actually is important to understand how inflation impacts savings and when to hold and when to invest and when to diversity into stable currencies.) We also learn that the city has a pool of money it uses for building and financing things. Thinking long term here and how companies interested in the area could do some good if they partner with the city to help them build the things a firm would need to attract even more investment and talent.
One thing you find in small towns is that you can really really take something already beautiful and make it bloom into exceptional! I'm not saying that will happen but I'm saying that its possible to turn a small town like this into something more wonderful that it already is. A little oasis for people to stay, visit, work, vacation and enjoy. A place where work, life, and purpose come together!
If you had a chuck of money I think adjustments in layout of the downtown and parking would be a benefit. Think about really making downtown functionally esoteric with open lanes, bike lanes, chairs, tables, etc... Might start to take some older buildings on the back half of the block and make parking lots. Its not like its full now but if it really starts turning into the Roaring 20's the downtown, waterfront, and functional lifestyle will make a big difference in draw and retention. (No one saying the town will take off...just the squinty eye possibility of it is interesting).
You can take a look at the Agenda HERE. Information on other meetings can be found HERE.
Still having a hard time hearing some of the speakers. Microphones need to be adjusted. 👂
You will also notice in the Agenda document the transcripts for the April 27th, 2021 meeting just in case you get curious. There was some comments on money for the tennis courts. If they are going to redo them they may also want to put in a straighter backboard. Sorry I like to play sometimes :)
Escanaba City Investment Portfolio
Ilsa Minor from the Daily Press wrote a very nice article in 'Esky council looks at city’s investments' and you may want to consider the following quotes for an overview of the budget (As a side note I met the owner once...the guy has a lot of publication experience. Would love to interview and share his knowledge with people learning. Seems like nice guy. Anyway...Daily Press is our local paper so if you are an outside company that wants to post an ad and/or find things you will want to check them out as one of your first options. i.e. I'm looking for an old pick up, help in my yard, and a job I would look there first.),
"The primary goal of the city’s investment accounts it to create capital for city operations. Over the past 18 months, the city has withdrawn about $1.84 million from its investment accounts, dropping its starting balance from $28 million to a total value of about $27.2 million."
and
"Market appreciation has played significantly into the portfolio’s total value, with a $357,465 drop in value just in the last six months. That drop in market appreciation, however, doesn’t show the full picture of the portfolio, which has appreciated $592,839 over the past 18 months. In the same 18-month period, the city earned $421,779.82 in income." (Minor, June 4th, 2021, para 5-6)
References
Minor, I. (June 4th, 2021) 'Esky council looks at city’s investments'. Daily Free Press. https://www.dailypress.net/news/local-news/2021/06/esky-council-looks-at-citys-investments/
Martin, C. & Shaffer, C. (May 6th, 2021) Rising Inflation: What It Means for TIPS and Other. Charles Schwab. Retrieved https://www.schwab.com/resource-center/insights/content/rising-inflation-what-it-means-tips-and-other-investments
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