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October 28, 2015 <br /> Today I am pleased to present to you a proposed balanced budget for <br /> 2016 that includes critical investments in public safety and our city's <br /> infrastructure. <br /> As I look back at 2015, I am encouraged by the significant projects <br /> underway in Everett, and I am excited for what the new year holds. This <br /> past month I had the chance to tour the new Composite Wing Center on <br /> the Boeing campus, welcome the Chinese president to Washington State, <br /> and help break ground for the new Washington State University Center in <br /> north Everett — all indicators of our rising profile in the region and around <br /> the world. All around the city, there are cranes towering above our streets, <br /> a strong symbol of the rebounding economy. <br /> But even as our financial outlook improves, we still face challenges — both <br /> economic and social. Streets issues continue to demand our focus and <br /> compassion, while simultaneously straining our resources. These complex <br /> issues will require more investment from the City in 2016, and my <br /> proposed budget allocates more than $2 million in new funding for the <br /> Streets Initiative efforts, including $1 million for a comprehensive plan to <br /> help keep our community safe and provide a path forward for our most <br /> vulnerable citizens. <br /> LOOKING AHEAD: 2016 OUTLOOK <br /> In many ways, 2015 is the first year that we have seen glimpses of pre- <br /> recession Everett. Our revenues are currently projected to end the year at <br /> $2.9 million over the amended budget. In 2016 we expect to finally exceed <br /> our prior revenue peak of 2008, with total estimated revenue at $127 <br /> million. <br /> Standard and Poor's recently reaffirmed our AA+ rating, a testament to <br /> our tradition of sound fiscal stewardship. Last week the Council approved <br /> the update to our comprehensive plan, extending our planning horizon to <br /> 2035. The plan ensures that, even as we enjoy our current development <br /> boom, our future growth is consistent with our community's values and <br /> design standards. <br /> One major revenue contributor to our improving economy is the robust <br /> construction activity throughout the city. From the waterfront to the <br /> Riverfront, from the new University Center to the expanding aerospace <br /> 345 <br />