City of Omaha Mayor’s Office

October 28, 2011 - Omaha Mayor Jim Suttle is in Washington, DC today to meet with Congressional leaders from Nebraska and Iowa as part of the U.S. Conference of Mayors’ Water Summit.

Mayor Suttle will be meeting today with Senators Ben Nelson (D-NE), Chuck Grassley (R-IA), and Tom Harkin (D-IA) regarding the Combined Sewer Overflow project, a $1.7 billion unfunded Federal mandate. Yesterday, Mayor Suttle discussed the issue with Representatives Lee Terry (R-NE), Jeff Fortenberry (R-NE), Steve King (R-IA) and Tom Latham (R-NE).

"This is not a one-size fits all problem and cities should strive to find unique, localized solutions to improve their sewer systems," said Mayor Suttle. "We are looking for affordable clean water solutions that incorporate emerging and green technologies to help reduce our flow of sewage."

On Thursday, Mayor Suttle attended a White House reception with President Obama and the National League of Cities. The event focused on improving infrastructure and creating jobs in American cities. "Cities are the engines that drive our national economy," said Mayor Suttle. "The President’s jobs plan will bring much-needed jobs to Omaha and improve the safety of our bridges and streets."

Mayor Suttle will return to Omaha this evening.

The US Conference of Mayors (USCM) promotes the development of effective national urban/suburban policy and seeks to ensure that federal policies meet urban needs. Founded in 1932, the USCM is the official nonpartisan organization of cities with populations of 30,000 or more.

October 20th, 2011 Moody’s and Standard and Poor’s announced last month that the City of Omaha will keep its AAA bond rating, which is expected to save millions in interest on Omaha’s General Obligation Bonds. Mayor Jim Suttle and City Finance Director, Pam Spaccarotella met with both bond rating agencies in Chicago, hoping to reaffirm the City’s bond rating amidst federal government downgrades and an unresolved fire contract. Mayor Suttle has now received official reports from both Moody’s and Standard and Poor’s and is posting them on his website today.

Moody’s Report for City of Omaha

Standard and Poors Report for City of Omaha

“The decision by the bond rating agencies means we are among only a handful of comparable cities retaining their AAA rating with both bond rating companies,” said Mayor Suttle. “Companies such as Moody’s and Standard and Poors look at several aspects of how a city manages its finances in determining a city’s credit rating and our budget decisions over the last two years reflect solid financial stability.”

The City is currently forecasting a surplus of approximately $2.95 million for the 2011 budget year. This surplus is largely a result of increased revenues and decreased expenditures, both of which affirm the city’s commitment to fiscal responsibility. In the past few years, the city has faced a significant budgetary shortfall immediately following first quarter operations that have required spending reductions and employment layoffs and/or hiring freezes. Both Moody’s and S&P recognized the improved fiscal operations of the city’s budget.

Over the past two years the City has had the political will to increase property taxes only when absolutely necessary in order to ensure funds are available to make principal and interest payments. In Cities across the country, property valuations have seen double digit declines, while Omaha’s valuations reflect a strong economic base according to agency ratings.

The City’s willingness to annex was received favorably by both bond agencies. The City of Omaha is not land locked, and continues to grow through annexation. “In 2010, the City increased property valuations by $43 million, and in 2011, our property valuations continued to increase by $477 million,” said City Finance Director Pam Spaccarotella. “The City of Omaha is a growing, vibrant community and our ability and willingness to annex shows that. We have also demonstrated that we can look ahead, set priorities and rise above the dependence of outside assistance to keep our community solvent.”

The AAA ratings received by the City will enable the City to issue general obligation bonds at record low interest rates. Initial indications show that interest rate to be less than 3%.

October 17, 2011 – The City of Omaha is announcing that Keep Nebraska Beautiful (KNB) has agreed to act as a clearinghouse to match parties with unwanted sand and sandbags prepared for this summer’s flood with citizens and organizations that have uses for the sand. The availability of or need for sand can be posted on KNB’s Materials Exchange website, which can be accessed at http://www.knb.org/exchange_listings.html.

The sand and sandbags made available through the Exchange can be both “clean” and flood-contaminated. Sand or sandbags that have not contacted floodwater can be reused without restrictions. Sand or sandbags that have contacted floodwater should not be reused in ways that would involve direct human contact, such as children’s play areas or residential gardening. For more information on these restrictions, please consult the Nebraska Department of Environmental Quality’s Environmental Fact Sheet http://www.deq.state.ne.us/ . If parties are working toward FEMA reimbursement for sand or sandbags, special restrictions on disposal may apply, and they should first consult with FEMA.