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Update from City Hall
1. City Budget
2. Economic Development
3. Stamford Public Schools
4. Public Safety
1
Budget Challenges Across the State & Country
2
Malloy Proposing Budget Cuts of $569M, Savings Through
Layoffs, Pension ChangesHartford Courant, 2/1/16
Bridgeport School District Headed
Toward Another Budget CliffConnecticut Post, 2/10/16
Bronin Halts ‘Non-Essential’ Hiring,
Spending to Address $9M Budget Shortfall
in Hartford Hartford Courant, 2/25/16
Budget Agreement Careens Toward
CollapsePhilly.com, 12/21/15
Time to Hit Panic Button on
Alabama Pension ReformAL.com, 6/2/15
Stamford Continues Commitment to
Strong Fiscal Management• Stamford’s financial position is strong
• Standard & Poors Reaffirmed our AAA bond rating
• No reductions of services in this year’s budget
• Pension and retiree health benefits are a budget priority
• Continued innovation in cost savings and management
• Debt increases fund new Police Headquarters and capital
projects3
4
$0
$1,000
$2,000
$3,000
$4,000
$5,000
$6,000
$7,000
$8,000
Tota
l Mu
nic
ipal
& B
OE
Spen
din
g P
er C
apit
a
2012 Spending per CapitaLower Fairfield County & Cities Over 100K Population
Source: Taxes at Home: A Comparison of Municipal SpendingYankee Institute for Public Policy - August 2015Stamford spending adjusted for Smith House
Budget Priorities
City Fiscal Management
• 3% maximum tax increase (proposed at 3.79%)
• Full funding of prior years’ unfunded pension & retirement benefits and current year ADC
• Investing in city-wide traffic, transportation and safety improvements
• Commencing cost-avoidance initiatives across the City
• Smith House transfer to private entity
5
Budget Priorities (cont’d)
Community Priorities• Continued funding for cultural, youth and social services
organizations• Modest grants for neighborhood community groups• Increased funding to Volunteer Firehouses based on
achievement of goals and objectives
City Operations• Vehicle pooling program for city-owned cars Reduces non-public safety fleet by approximately 33%
• Combined Police & City vehicle maintenance departments
• Improving management for road repairs• Traffic Synchronization Initiative 6
Expenditure Drivers by Category
7
Excludes Contingency increase of $2.9 M & Smith House decrease of ($12.5 M)* Employee benefits include healthcare, and normal cost for Pensions & OPEB
Salary & OT 12% $3.3
Employee Benefits * 21% $5.9
Unfunded Retirement Benefits 7% $2.1
Payments to Ins Fund 2% $0.4
Goods,Utilities,Services 4% $1.2
Other 0% $0.1
City & BOE Debt Service 7% $2.1
Community/Cultural 4% $1.0
BOE 43% $12.1
$-
$5.0
$10.0
$15.0
$20.0
$25.0
$30.0
1
Incr
eas
e in
$ M
illio
ns
Long Term Unfunded Obligations
8
8.83
13.66
8.83
6.34
24.17
4.72
52.8 55.5
58.4
0
10
20
30
40
50
60
70
2013-14 2014-15 2015-16 2016-17
Am
ou
nt
(Mill
ion
s)
Year
Total Amount Spent - City Employee Benefits
Total
Other
Health Care
Current Service--OPEB
Current Service -- Pension
Unfunded OPEB
Unfunded Pension
30.7% of City Operating Budget
13.9%66.5
Update from City Hall
1. City Budget
2. Economic Development
3. Stamford Public Schools
4. Public Safety
9
10
Economic Development
• Stamford recently named Connecticut’s digital capital, or “eCity” by Google
• Businesses are moving to Stamford
• Businesses who were already here are staying and expanding in Stamford
• Launched Small Business Portal to help people thinking about starting or expanding a small business get the tools they need
11
Unemployment
• Notably lower than state
and National
unemployment averages
• 4% in Stamford
• 5% nationally
http://www1.ctdol.state.ct.us/lmi/unemprateCTUS.asp
12
Income Per Household by Neighborhood
• Average income has increased across all neighborhoods
• Most notable increases in:
• Waterside/South End: 62.10%
• Newfield: 52.10%
• North Stamford increasing more slowly
http://www.city-data.com/city/Stamford-Connecticut.html
14
Notable Companies by Industry
• Retail• Vineyard Vines, Fairway
• Media• NBC, A&E, WWE
• Finance• Synchrony, GE, UBS, RBS, Gen Re
• Management Services• Deloitte, Ernst & Young, McKinsey,
Gartner Group, Thomson Reuters
• Others• Kayak, Harman, Indeed, Pitney
Bowes, United Rentals, Starwood
○ Starwood
15
Healthcare
• Stamford Hospital • Tully Health Center
• Staff Health Urgent Care Center
• Chelsea Piers Pain Center
• Imaging at Mill River
• Upcoming New Facility/Expansion
• Emergency Department
• Pediatrics
• Intensive Care Unit
• Heart and Vascular Unit
• Other Important Health Centers
• The Pediatric Center
• Orthopaedic Surgery & Sports Medicine
16
Companies New & Expanding
Stamford Hospital292 Long Ridge
Bridgewater Associates2200 Atlantic Ave
300-500 Jobs
Indeed.com177 Broad Street
300 Jobs
Yale-New Haven Hospital Offices260 Long Ridge Road
Rhone Apparel482 Pacific Street
New Leases Signed in 2015
• Bridgewater Associates - 137,000 SF – new
• Synchrony Financial – 312,000 SF – new headquarters
• Indeed.com – 100,000 SF – new space expansion of the business
• First County Bank – 22,000 SF – new headquarters
• TFS Energy Solutions – 23,000 SF – new headquarters
• Tagetik – 23,000 SF – new headquarters
• Deutsch Family Wine & Spirits – 44,000 SF – new headquarters 17
Leases Re-Signed in 2015
• UBS – 120,000 SF- company committed to stay in Stamford
• Harman International Industries – 138,000 SF –company committed to stay in Stamford
• Charter Communications – 74,000 SF – company committed to stay in Stamford
• Ironwood Capital – 80,000 SF
• Robinson & Cole LLP – 28,000 SF – company committed to stay in Stamford
• Parfum de Coeur – 22,000 SF18
19
Infrastructure: Office Vacancy Rates (Direct)
• Vacancy rates are currently falling back to their pre recessionary norms
http://www.stamfordct.gov/sites/stamfordct/files/u358/f2014_city_of_stamford_cafr_final.pdf
Recently Opened Housing Projects
20
• Summer Place• 66 Summer Street
15 Story - 209 units residential overlooking Stamford’s
Columbus Park.
Beacon at Harbor Point1 Harbor Point Road
22 Stories - 240 residential units overlooking Stamford
Harbor
Summer House184 Summer Street
22 Stories - 226 residential units, 2,200 square feet of
retail space.
21
Projects Under Construction
Bedford Hall545 Bedford Street
Atlantic StationAtlantic Street
Morgan LoftsMorgan Street
Rippowam PlaceWashington Boulevard
Marriott Residence Inn 35 Atlantic Street
Park Square West – Phase 2Washington Boulevard
23
Infrastructure: Housing Units
• Total number of units has generally increased from 2000 to 2014
• Small dip attributable to economic recession
factfinder.census.gov/faces/tableservices/jsf/pages/productview.xhtml?src=CF
24
Infrastructure: Housing Supply
http://www.city-data.com/city/Stamford-Connecticut.html
Waterside/South End was the quickest growing neighborhood between 2000-2010
• 28.5% increase in housing supply• Apartments/condos were built
& South End
25
Stamford Museum & Nature Center
Chelsea Piers
Bartlett Arboretum
Stamford Town Center
Restaurants
The Palace Theatre
Nightlife
Mill River Park
26
Annual Events
• Alive@Five• Jazz-Up July• City Firework Display• Hope in Motion Walk & Run• UBS Thanksgiving Day
Parade• KIC IT Triathlon• Stamford Symphony
Update from City Hall
1. City Budget
2. Economic Development
3. Stamford Public Schools
4. Public Safety
27
Stamford Public SchoolsLooking Forward
28
• New Board of Education
• New Interim Superintendent
• New IB Elementary School on Track
• Championship Teams:• Westhill Boys Basketball
• Stamford High Girls Basketball
200 Strawberry Hill Avenue
29
• IB Inter-district Magnet
• Secured $60+ million from State during 2015 legislative session
• Groundbreaking held on January 14th for Phase 1 light renovation
• Plan to have K-1 start in September (eventually K-8)
31
SPS in the HeadlinesStamford High shows improvement…STAMFORD — The city’s flagship high school has received positive marks from its
accreditation agency.
The letter lauded the process the district used to select Principal Raymond Manka, as well as
“efforts to build a new and healthy school culture at SHS.”
It also complimented the school’s recent moves to further integrate technology into its
curriculum.
Stamford Advocate, March 7, 2016
Stamford continues search for new schools
superintendentSTAMFORD — After about four months of searching, the Board of Education is close to
naming a new superintendent.
Sources close to the search told The Advocate interviews of candidates have been ongoing,
and indicated the board is close to a decision.
Stamford Advocate, March 7, 2016
Stamford Public Schools – in just the last few months
32
Stamford Public Schools Announced Seven Students as National Merit Semi-Finalists• Seniors from AITE, SHS, and WHS
are Among Highest Scorers in the State
Two AITE Seniors Have Been Selected as Candidates for the United States Presidential Scholars Program
Eighth Grader Alex McLeod Wins Scofield Magnet Middle School’s National Geographic Bee
• Moving One Step Closer to $50,000 College Scholarship
AITE Earns Summer Study Abroad Scholarships
• Scholarship Winners Will Build Skills for Today’s Global Marketplace
White House to Recognize Computer Science Education “Champions of Change”
• Cloonan 7th Grade Science Teacher James Forde one of 9 teachers selected across the country
Fourth Grader Thomas Surette Wins Newfield Elementary School Geographic Bee
• Moving One Step Closer to $50,000 College Scholarship
33
• Stamford is home to branches from:
• University of Connecticut• Anticipating announcement of
student housing location within 60 days
• Sacred Heart University • Cornell University (Veterinary
Specialists)• University of Bridgeport
• Specific degrees available include: • Business Administration• English• History• Psychology
• Healthcare Administration
• Social Science
College Education
Update from City Hall
1. City Budget
2. Economic Development
3. Stamford Public Schools
4. Public Safety
34
Public Safety Initiatives
• Blue Light Poles with surveillance cameras being installed in City parks
• Updated 911 communications system
• AVL in Police fleet
• Fire Department Dynamic Dispatch Protocol (closest available unit)
Stamford is the safest city in New England
35
37
Crime – Statistics
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2014
2014 Homicides by Major City
Stamford Bridgeport New Haven Hartford Waterbury Norwalk