Council Roundup Financial forecast update

Bellevue City Council's mid-biennium financial outlook revealed stable tax revenues, though inflation and federal funding rollbacks contribute to economic uncertainty. Significant growth is not expected until at least 2027, prompting staff to recommend a cautious budget approach. The council unanimously approved Ordinance 6853, extending development permit validity to support builders amid market volatility. This policy, previously utilized during the 2010 recession and COVID-19 pandemic, allows for two extensions. Meanwhile, the Republic Services work stoppage has disrupted garbage collection, leading the city to establish drop-off sites for residential waste. Republic Services plans to issue service credits to affected customers. The council aims to keep residents informed as conditions evolve and will evaluate the impact of extended permits on project completion. Bellevue's efforts reflect its commitment to fostering a business-friendly environment during challenging times.