Why No on M?
No Sunset Clause
Unrestricted
No Independent Oversight
Needed to ensure responsible spending.
use of funds. City officials are not bound by the uses stated in the ballot language.
City has final say on spending.
In the past 10 years, Novato has spent precious taxpayer money on ill conceived projects, many times in opposition of City Management and Financial Advisory Board members who recommended against this spending.
Expenditures
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The Failed Novato Theatre ($1 Million Dollar spent)
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The Downtown SMART station ($5.5 Million Dollar spent)
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The Corporation Yard purchase ($5.8 Million spent)
Loss of Revenue
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Inability to apply for some federal loans due to incomplete audits ($7 million estimated loss)
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Deteriorating, vacant, or unknown city owned properties (another loss of milions)
Miscellaneous
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Approved long term (30 year) 2.5% loan to a third-party, the North Bay Children's Center
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Approved low cost loan to another third-party (fell through when borrower failed to satisfy a loan condition)