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Fairfield Book May 2009 Business Booster Pages 5-6 Parks Rec & reation News Pag es 7-38 Fairfield maintains its Aa2 Moody’s bond ranking t a time when many municipalities are at 5 percent, with 10 “Moody’s anticipates that the City will Afacing the prospect of seeing their bond years remaining. maintain sound financial operations in the ratings downgraded, Fairfield has Refinancing is near term, as currently ample reserve levels received reaffirmation that it will maintain its projected to save and prudent budgeting offset essentially flat very favorable Aa2 rating. That rating comes about $750,000. income tax receipts,” says the recent rating from Moody’s Investor Services, the nation’s report. “Moody’s believes that the City’s most respected bond rating company. Moody’s has also budget is conservative in both revenue and reaffirmed the Aa2 expenditures...” (see related story on page 2.) The Aa2 rating was reaffirmed as the City rating for all the City’s prepares to refinance $5.3 million in bonds $15.8 million bonds Currently, Fairfield is has an unemployment from the late 1990s for for various projects, previously issued, good news for investors rate of 5.9 percent, well below state and including upgrades at the Water Treatment who hold the bonds in their portfolios. national rates. Per capita income of Fairfield Plant. Just as homeowners are refinancing families is at 117 percent of the state average. mortgages at much lower interest rates, the In its rating reaffirmation, Moody’s noted that Despite the national housing crisis, 130 City also is refinancing old debt. The better the City’s $2.9 billion tax base is expected to properties are facing foreclosure out of nearly the Moody’s rating, the lower the interest rate remain stable due to diverse employment, with 20,000 owner-occupied homes citywide. since the investments are much more secure. two of the City’s largest employers (Cincinnati The $2.4-million being refinanced is expected Financial Corporation and Ohio Casualty) In mid-April, Moody’s issued a general to receive an interest rate of 2.5 to 3 percent, both expanding their campuses and adding outlook that ratings for many municipalities thanks to the Aa2 rating. The bonds now are 900 employees. were likely to trend downward due to the economy. Fairfield’s Aa2 rating, however, remains very favorable. ding your largest inves Safeguar tment Something NEAT to help maintain home values... ith the recent national decline of Increased inspections and proactive efforts private property concerns, including brush and W property values, have begun by the limb collection, street sign and sidewalk Fairfield City Development Services maintenance and crime prevention efforts. Council has placed a high Department to ensure priority on property that properties meet maintenance in order to building and maintain the highest maintenance codes. Inside possible values of property in Fairfield. Weathering the economic storm . .2 To more directly communicate with property Lowest water/sewer rates around . 3 owners, more than 500 residents have been Property Maintenance sent mailings explaining the program goals and City Council’s 2009 priorities . 3 concerns. Each letter included a prepaid Cyber-Shield offers FREE online advice . 42 return postcard survey asking for opinions on Hotline common issues affecting residents. The 867-5321 mailings are being undertaken by a newly Fairfield youths formed group known as the Neighborhood If you have concerns about a maintenance issue or need to report an address where Enhancement Action Team (NEAT). The featured in new grass is not being cut, call program is comprised of representatives from to speak with a zoning Joe Nuxhall inspector. Building and Zoning, Public Works and and Messages left after business the Police Department, each of which already tribute... hours are addressed the has a responsibility relating to public and next business day. see page 41 THE FAIRFIELD FLYER FAIRFIELD: weathering the economic storm he City of Fairfield remains million of that total coming from funding T financially healthy despite global outside of local funds. Should income tax economic conditions that have revenues begin to falter, some CIP impacted municipalities across the projects would be delayed, where possible, country. Fairfield’s year-end figures for to later years when the economy has 2008 ended strong, providing a healthy improved. financial start for the 2009 operating year. The City of Fairfield receives more than 74 percent of its income tax revenues With the economy in the forefront, from employees who work within the Fairfield’s 2009 operating budget was City limits. While income tax revenues prepared with a highly conservative have held steady to 2008 levels, a watchful outlook that local income tax revenue eye is being maintained on the recession’s projections would hold steady with 2008 actions to trim an already conservative 2009 long-term impact on area employers. levels. Revenues paid to Fairfield through the operating budget. City Council and the City’s 1.5 percent income tax comprise a administrative staff are carefully watching Projections for an improved economy are significant portion of the operating budget. trends to ensure that the City’s projected encouraging, however, the City will continue to income tax revenues do not begin to falter. tighten its belt while preparing the 2010 Fortunately, as of the first quarter of 2009, operating budget. Planning for the 2010 income tax revenues have, indeed, held steady. Contingencies ready operating budget will get underway this As a result, the City has not taken any further summer. Should revenues fall short of expectations, a predetermined series of cutbacks would be The City strives to operate efficiently and initiated starting first with a significant cut in effectively while providing quality services to its You’re Invited discretionary items such as travel and training. residents. That philosophy — along with PUBLIC MEETINGS All efforts would be made to cut discretionary strong financial management — will enable spending rather than accessing fund reserves. Fairfield to maintain the level of services Regularly Scheduled Cuts in the operating budget would not include residents and business owners have come to Monthly Meetings any employee layoffs so that residents and expect. businesses could continue to receive the current While renovations are underway in City level of City services during the difficult Opportunities amid adversity Council Chambers, the following meetings economic times. will be held at the Community Arts Center, As Fairfield prepared its contingencies, 411 Wessel Drive: administrative officials have applied for City Council The City’s 2009-2013 Capital Improvement 2nd & 4th Mondays at 7 p.m. Program (CIP) budget has also been refined significant grants from the stimulus funds that Summer: June 8, July 13 & Aug. 10 with the same conservative stance taken with have been created by President Obama’s Planning Commission the current operating budget. The CIP Economic Recovery Plan. Funds would enable 2nd & 4th Wednesdays at 6 p.m. anticipates major projects or equipment needs Fairfield to utilize of federal funding being Board of Zoning Appeals that are expected in the future. Proposed CIP made available for construction projects that are 1st Wednesday of each month at 6 p.m. projects for 2009 total $15,573,900, with $3.3 intended to boost employment in the area. Held at the Fairfield City Building, Pleasant Avenue & Wessel Drive: Civil Service Commission Did you get yours? 2nd Thursday of each month at 6 p.m. airfield’s 2008 Annual Report has been mailed to each residential household and business. Held at the Community Arts Center, F 411 Wessel Drive: By now, the reports should have been Parks & Recreation Board delivered. The most recent version of Fairfield’s 2nd Tuesday of each month at 5:30 p.m. international award-winning publication Environmental Resources and focuses on the theme “Meeting Your Needs Community Forest Commission Amidst Global Challenges.” If you did not 1st Wednesday of each month at 6 p.m. receive your copy in the mail, stop by the Cultural Arts Advisory Commission Municipal Building or Community Arts nd 2 Tuesday of each month at 6:30 p.m. Center to pick one up or download a copy at www.fairfield-city.org. 2 C ITY OF F AIRFIELD, O HIO Fairfield water/sewer rates remain among lowest nce again, Fairfield has gained the Miamisburg, where a similar water bill would monthly water bill in Fairfield by $2.42 during O unique distinction of having the lowest have been $113.70. 2009, the second stepped increase of the four- water and sewer rates in year plan. Butler County, according to the Miami County/Tipp City topped latest survey by the City of the list with a charge of $290.37 Throughout the area, the Oakwood Oakwood. The survey annually for the comparative water and Water/Sewer Survey reflected overall rate documents the rates charged by sewer charges. The mean cost increases by respondents of 4.46 percent. The 63 communities in southwestern among all communities in the slight increase in rates throughout the region Ohio. Not only does the survey survey was $199.44, significantly parallels Fairfield’s five percent increase in rates show that Fairfield’s rates are the higher than rates charged by at the beginning of the year. lowest in Butler County, but also Fairfield. they are second to the lowest in Like most public utility operations, Fairfield the entire survey area. The rates showing Fairfield’s very water and sewer costs are offset by fees charged favorable ranking included the to those receiving services. The survey compares the cost of small increase in water/sewer rates 22,500 gallons of water (or 3,000 introduced to bills at the cubic feet of water) in a three beginning of 2009.
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