Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Keizer manager details PERS paydown plan and cityproperty purchase used in financing strategy
Summary
City Manager Adam Brown told the budget committee the council recently purchased a property south and west of City Hall to support evidence storage and that proceeds from property sales and a state match will be used to pay down PERS liability.
City Manager Adam Brown told the Keizer Budget Committee on May 20 that reducing the cityPERS unfunded actuarial liability remains a central strategy for stabilizing long-term finances.
Brown said the city has created a site account and committed an initial $3.5 million to a match program intended to leverage an additional state match (estimated at roughly $875,000). The targeted paydown is intended to reduce the cityannual PERS payments and free capacity for ongoing services, Brown said. He described the…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
