Politics & Government

Mayor Andy Klein Comments On Current Market

The Mayor said he is not overly concerned by the current economic volatility.

Mayor Andy Klein shared his thoughts with San Carlos Patch regarding the current economic unpredictability.

"I don't feel that the recent economic volatility is a reason for us to be overly concerned in San Carlos," Klein said. "Historically San Carlos has rarely lost on investments, we have had some years of minimal gains, but rarely have we lost."

In the last year, the has contracted out to the county, and has adopted a new model in the name of closing their budget deficit. At one point, the city faced a more than $3 million deficit.

Find out what's happening in San Carloswith free, real-time updates from Patch.

"Due to the work that the council has done over the past 20 months the City of San Carlos is on stable financial footing," Klein told San Carlos Patch."The major threat to that stability is the loss of RDA funding."

Earlier this year, Gov. Jerry Brown announced the passage of a new budget that had cut redevelopment agency funds.

Find out what's happening in San Carloswith free, real-time updates from Patch.

 

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