Declining property values, tiff bonds, loans from the city, city-owned properties, financing, and maintenance of the infrastructure are all of great concern.  Grand Haven needs to be cautious in moving forward, there is currently a lot of debt that could increase significantly.

Declining property values, while typically cyclical in nature, could potentially result in less property tax revenue for the city.  With less revenue, the city could be forced to cut back on needed services.

There are multiple bonds in place that the City of Grand Haven is responsible for, if we do not meet the payment schedules or have to modify the bonds we could risk our credit rating, therefore jeopardizing future opportunities and possibly increasing our debt further.

Due to the financial commitments of the downtown streetscape, the loan to Grand Landing, Chinook Pier, and other large commitments, we need to keep a close eye on the budget.  The city needs to be cautious in the future when it comes to substantial obligations.