Mesa Assures Residents City is not Broke

During a recent Town Hall-style meeting, the mayor of the City of Mesa took the time to tell those in attendance that the city was not broke. This was a prelude to a dissertation on the proposed Chicago Cubs spring training facility to be paid for by Mesa. Perhaps someone had previously implied present economic circumstances were placing a strain on municipal resources and spending big money on a sports complex for use by millionaires was not the best use of the limited funds which were available.

While the mayor is correct in his assertion that the city is not broke, there are some disturbing fiscal trends which could cause a reversal of fortune in the future. Over the past several years, the city has missed budgeted revenue projections by a wide margin; last year’s income fell $46 million short of official estimates and the previous year was off the mark by $61 million. Of course, one way to deal with a lack of money is to borrow some. Over the past decade Mesa’s long-term obligations have increased by over $600 million and, in the same time period, per capita municipal debt has more than doubled from $1,300 per resident to over $2,700 per person.

So, in light of the above financial missteps, it is understandable why a number of people question the promised economic benefit which can be expected by investing vast sums of money in a new spring training project.