Lakewood Approves $111 Million Budget

LAKEWOOD, OH - The city has approved a nearly $111 million balanced budget for 2017. Currently, Lakewood is anticipating more than $12 million in capital projects.

One of the changes in this year's budget is the anticipated income from the former Lakewood Hospital site. After a referendum on the Nov. 8, 2016 ballot confirmed the city's desire to move forward with a new Family Health center, Lakewood has begun adjusting its finances.

The city's new Director of Planning & Development Bryce Sylvester says that the mere act of Cleveland Clinic revamping its presence in the city sends a positive signal to potential businesses. Why? Because there is still economic activity taking place in Lakewood.

The city received $500,000 for the redevelopment of the former hospital property in February 2016,
and will receive an additional $6.5 million when the Family Health Center opens in 2018, the budget document says.

Additionally of interest to Lakewood residents is the projected increase in their monthly sewer bills. The budget predicts that a 5.7 percent increase in monthly bills is inbound for residents. The reason for the increase?

Lakewood is attempting to revamp its sewer system. The city has already spent $6 million on sewer-related projects since 2014. The budget is calling for another $10 million in sewer work.

In other details, the city is projecting an increase of 1 percent in collected municipal tax income versus 2016 and an increase of 5 percent versus 2015.

Lakewood also used the budget to take a shot at Ohio's state government. "The projected 2017 revenue from the Local Government Fund is $1.96 million, an increase of $106,500 from 2016 estimated receipts, and $1,619,000 less than 2011 actual receipts representing the last year before a 50 percent reduction was implemented by the Ohio General Assembly," the budget says.

Mayor Michael Summers signed on to join the Ohio Mayor's Alliance, which is meant to combat the steady loss of municipal control to state legislators.

You can see the whole budget here.

Photo from Rick Uldricks, Patch