The budget for the city of Portland is expected to grow substantially over the next five years. But that growth is offset by spending plans.
Spending plans for affordable housing and police pay could make the city cut other services for the first time in three years, according to a new budget forecast released by the city.
The forecast estimates the city will either have to raise more money over the next five years, or cut $4 million from ongoing expenses.
Just $4 million in a budget amounting to hundreds of millions is not substantial, but the money still must be found.
On the bright side, record revenue growth means there’s a one-time surplus of more than $18 million. Spending that is discretionary, it can be used for things like infrastructure improvement.
Revenue growth is attributed to the thousands of young people flocking to Stumptown. But the report says many of the problems facing the city, like high housing prices and economic displacement, are a by-product of that influx.