South Bend Mayor James Mueller updated the South Bend Common Council on the financial state of the city on Monday, Feb. 8.
Mueller said while the COVID-19 pandemic took a toll on the city’s economy, the impacts haven’t been as drastic as officials feared.
“There’s a lot of work ahead as a community with residents needing opportunities, but we certainly could have fared far worse,” he said.
Mueller compared the city’s finances to a household that makes $40,000 dollars a year. On that scale, the city has about $45,000 in cash, close to $75,000 in assets like land and infrastructure and about $33,000 in debt.
Mueller said the city is in a position to invest in long-term projects, like the overhaul of neighborhood streets announced last week or the city’s capital utility plan.
In response, councilmembers urged Mueller to include minority contractors in those projects. They also thanked him for his administration’s cooperation in responding to the COVID-19 pandemic.
Contact Gemma atgdicarlo@wvpe.orgor follow her on Twitter at@gemma_dicarlo.
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