By CHRIS JENSEN
Noblesville Mayor
As we continue to manage the impact COVID-19 has had on our daily lives, we have all learned that this pandemic has caused more than a health crisis. It has caused a great disruption throughout our community and affected our local economy. Much like our friends and neighbors, the city has and continues to make necessary spending changes and modify fiscal management plans in light of our new circumstances.
Last month, we launched the Small Business Resilience Grant program which provided up to $10,000 per grant to small businesses impacted by the COVID-19 pandemic. In all, the grants totaled $250,000 and aided 46 local establishments. This grant is part of a larger strategic plan we have for deploying a portion of the city’s Rainy Day Fund and cash reserves to assist needed populations and to support recovery efforts.
We are monitoring all the relevant economic factors to better understand the full impact of this crisis on revenue streams and recovery time. We are identifying and will be making strategic cuts to our departmental budgets, with a focus on eliminating or deferring planned expenditures that are no longer necessary or prudent from a cost benefit analysis in our new economic environment.
While we are reprioritizing capital improvement projects and initiatives, we will be moving forward with those projects deemed most impactful and necessary. Economic development projects will be more important than ever for the health and future of our local economy. For example, the Village at Federal will attract new residents and businesses to our city and help grow our tax base.
The city will implement a hiring freeze for all non-essential personnel until further notice. This change will not affect the services you have come to expect from the city.
We are actively pursuing all available federal and state reimbursement dollars and grant opportunities and will continue to do so as more opportunities become available.
We will also continue to engage with financial consultants, local and state fiscal officers, and community stakeholders to assess the situation and make additional necessary adjustments as we navigate through this new economic environment.
We cannot pursue policy priorities and make necessary investments in public safety, economic development, infrastructure, and related contexts without a strong financial management plan. The COVID-19 pandemic has made it even more vital for us to think strategically and take bold actions where justified.
The city’s prudent fiscal management has put us in a strong financial position to address this pandemic head on – and like you, we will. We will continue to seek proactive and creative opportunities and to take prompt measures to protect Noblesville’s financial future.