Coralville’s financial choices impact many

Bankrupt Detroit and Coralville share a dubious commonality: nearly the same amount of massive debt per capita. The bonding agencies have been warning both for years with tumbling credit ratings; Coralville's childish answer: “I can't hear you.”

Paying $14,000 in PR work to improve the outlook won't change what leadership has been ignoring. A good credit score can't be bought and Moody's understands well the Coralville facts and flooding circumstances. Cutting up the credit cards and taking a good Dave Ramsey debt course is in order.

The doubling down of competition with local businesses and risky enterprises has actually hammered the city's credit rating. Bonding agencies and existing business leaders of Coralville are screaming for financial changes to Coralville. Disenchanting existing businesses and scaring off homeowners with likely property tax increases continues that spiral toward junk bond status.

Perhaps it's time to ask homeowners by ballot if they are willing to dig even deeper than $35,000 of debt for every household in Coralville.

One may ask why I care about another city's debt. The TIF (tax increment financing) method impacts everyone in the county paying property taxes and children seeking every educational dollar available in this district. How other cities handle their financial matters does indeed matter. I'm affected by poor financial decisions made by Coralville leadership.

Brad Franzwa

North Liberty