Posts under ‘CIT Fund’

By John Ramos
On October 5, 2007, citizens of Duluth found out that they were facing an additional $1.7 million budget shortfall, on top of the $5.4 million deficit they already knew about. Acting quickly, the city council rolled up its sleeves and approved another large project out of the street fund.
More correctly, they approved a [...]

By John Ramos
The Duluth City Council meeting of June 11, 2007, presented Councilor Russ Stewart with a rare opportunity—the sort of opportunity that might come along once in a person’s political career, if ever.
The council was considering a resolution that would grant money to the Heritage Sports Center project, which will be located just off [...]

By John Ramos
On May 17, 2007, the Duluth Area Chamber of Commerce hosted a breakfast and panel discussion on the city’s looming retiree healthcare obligation. In a dim, crowded conference room in the basement of the Holiday Inn, a few dozen audience members dug into plates of ham, scrambled eggs and American fries. Several suspicious-looking [...]

By John Ramos
On March 26, 2007, the Duluth City Council voted to take $2 million from the Community Investment Trust (CIT) fund and apply it to the city’s unfunded retiree healthcare obligation. This action was the latest in a series of recent actions involving the CIT fund, all of which occurred after Mayor Herb Bergson [...]