Budish Says County Needs to Rein in Spending After Many Big Investments
Budish said some big, recent projects have helped generate economic momentum for the county – the convention center and its hotel, for example. But the price, he said, is more debt.
"There’s very little capacity, right now, to take on more debt for projects for around a decade – or more like 12 years," Budish told reporters.
He said that could be longer still if the county proceeds with financing other projects already in the works, like the downtown pedestrian bridge.
"This is a serious situation," he said.
That's because the county has so many other pressing capital needs, Budish said – improvements at the Justice Center, a new MetroHealth hospital, and others.
So he said it’s time to tighten up budget oversight.
Budish said he’s reduced a culture of ad-hoc spending, and is drafting leading money managers from around the region to offer their advice.