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As a result of the rate plan, rate increases have stabilized, capital and operating needs have been met, and for the first time reserve balances are growing in each utility fund to meet future unexpected needs.And closer to home, neighboring cities have followed Kent’s lead and opened up old dams all along the Cuyahoga.At Strong Towns we believe that financial solvency is a prerequisite for longterm prosperity.In all, nearly 50 meetings were held over a 14-month period, and a total of 450 residents participated -- all of which contributed to the International City/County Management Association (ICMA) issuing a national award to Kent for “Excellence in Community Engagement” in 2005.
A direct result of this plan was the downtown Kent revitalization project undertaken in 2011 that provided over $140 million in new investment in Kent.
Coupled with prudent financial policies and far-sighted investment decisions, the City of Kent was fortunate to come out of the 2008 recession in a stronger position financially than when we went in, culminating in Kent being recognized by the State of Ohio in 2016 as 1 of only 16 cities out of 240 in Ohio to achieve the highest rating of overall financial health.