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City facing projected losses of up to $3 million from COVID-19

'We're looking at a situation tonight that may pale in comparison to the next few months'

 
Series: Coronavirus | Story 85

Last updated 5/26/2020 at 10pm

Beacon photo by Christopher Kim

The City projects that it will lose $3 million in 2020 due to COVID-19 compared to the year prior.

The City's finance director, Jeff Balentine, warned City Council members of multimillion-dollar losses at their meeting on May 12, although he and the city manager warned the projections were already optimistic. 

"(The projections) feel, to us, intuitively, to be too optimistic. However, we're basing it on the current information and data that we have available," City Manager Michael Ciaravino said. "We're looking at a situation tonight that may pale in comparison to the next few months."

However, in an effort to stave off panic, Balentine told the councilmembers he would prepare multiple...



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