Farley Proposes Revenue Opportunities, Councilors to Review Wednesday

After council approved a 3.07 percent tax hike at the last city council meeting, Councilor Michael Farley said he wants to begin immediately exploring cost savings and revenue opportunities.

Farley introduced four resolutions that he claims would generate an additional $1 million in revenue. His fellow councilors will have a chance to review and possibly vote on his proposals during Wednesday's council meeting.

Mooring Permit Fees Hikes

Farley indicated that the city could bring in an additional $500,000 every year in revenue by increasing the price of its 900 mooring permits. The cost of a mooring permit for a 30’ boat would increase from $156 to $300 per year for a Newport resident. For a non-Newport boat owner, the cost would increase from $312 to $600 per year.

“It is not popular to say this in Newport, but anyone who owns a 30’ boat can afford a modest increase,” said Farley.  The average wait for a mooring is 14 years, he added. 

When asked on the Newport Patch Facebook page, Barbara Ann Fenton agreed. “I think the sailors who frequent Clarke Cook House can afford it,” she wrote.

Jani Brooks added, “if you can afford a boat in today's world, you can afford $300 a year to moor it!”

What do you think?  Should council members consider increasing the mooring fee to bring in additional revenue to the city?  Tell us in the comments!

Newport Yacht Club Property

Farley noted that the yacht club pays only $2700 per month, while the lost tax revenue for the property exceeds $6,000 per month.  His resolution asks the city to explore its options, including re-negotiation, or a possible sale to ensure that the city is receiving full property tax value for the land and all buildings and features.

Do you think the city should considering selling the property to bring in approximately an additional $40,000 in revenue each year? 

Visitor Center

Farley indicated that the lease for that building is up in 2016, but that the tenant may be willing to leave sooner. Referring to a 1999 bid proposal, he indicated that there is some interest among the council in using the property for a mixed use economic development including retail and possibly a hotel development.

Farley indicated that this development could bring in $500,000 in annual tax revenue.  Should council take steps to restart those conversations from 1999? 

Sister City Program

Under that program, $30,000 is diverted from the Visitor Center lease payments which is used to pay for foreign travel expenses by city council members and their family members, said Farley.  

“My resolution proposes that we track Sister City revenue and expenditures more openly,” said Farley.

Tell us what you think about Farley's proposals in the comments. Or, do you have another idea for revenue?  Then, check back on Newport Patch on Thursday to read what members of Newport City Council had to say about the proposals.