Monday, May 19, 2025
87.1 F
Roseville

Anaheim considers borrowing $210 million

Deficits projected through 2025

ANAHEIM, Calif. – Anaheim is considering issuing bonds to close budget deficits caused by the coronavirus economic downturn.

Anaheim’s City Council will consider borrowing up to $210 million in their role as the city’s Public Financing Authority. Bonds could be issued later this spring.

Issuing up to $210 million in bonds would generate $185 million in proceeds for the city after issuance costs.

Anaheim could opt to issue less in bonds, $162 million for proceeds of $140 million, to cover shortfalls for the current year and the next two.

Federal Assistance

That would factor in receiving $107.6 million in federal assistance and the planned reopening of the theme parks of the Disneyland Resort, set for April 30.

The pandemic closure of Anaheim’s theme parks, the Anaheim Convention Center and sports and entertainment venues has driven the city’s current fiscal year deficit of $108.5 million as well as projected shortfalls in the next few years.

Anaheim

American Rescue Plan Act

Under the federal American Rescue Plan Act, signed into law on March 11, Anaheim is set to receive assistance in two payments of $53.8 million each, one due in May and the second due in spring 2022.

The federal assistance covers about half of Anaheim’s deficit for the 12 months through June 2021 and about 87 percent of a projected deficit of $61.5 million for fiscal year 2021-2022, which begins in July 2021.

Borrowing is seen as a bridge for budget deficits until Anaheim’s visitor economy fully recovers in the coming years.

Deficits projected through 2025

Anaheim projects deficits through June 2025, with economic recovery and revenue generated from it as variables.

The theme parks of the Disneyland Resort, which normally bring more than 25 million annual visitors to Anaheim, are expected to gradually reopen starting April 30.

Depending on where Orange County is in California’s colored, four-tier reopening system, the parks would open at either 15 percent or 25 percent capacity.

Anaheim is also awaiting state guidelines for the reopening of the Anaheim Convention Center and Honda Center. Both have been closed to either events or fans since March 2020.



Support local sports!

Sphere Las Vegas

Trending

Ford Mustang sales continue nosedive

Roseville, Calif. - An American icon is losing its mass appeal. One of America's most celebrated classic cars for roughly 60 years, fewer Mustangs are being sold these days.

The UPS Store in Rocklin on Sunset Blvd.

Find directions, store hours & UPS pickup times. If you need printing, shipping, shredding, or mailbox services, visit The UPS Store #1442. Locally owned.

Elks Lodge in Roseville

The Roseville Elks Lodge offers a wonderful social gathering spot for both men and woman where people do know your name while providing community service and charitable giving activities helping kids, veterans and others. Plus the Lodge rents its venue for events, parties, weddings, meetings, etc.

Roseville Music in the Park Concert Schedule 2025

Roseville Music in the Park. FREE summer concert series. Enjoy free family friendly entertainment at Royer Park in Roseville.

Sisters Thai Kitchen in Roseville

Sisters Thai Kitchen, No-frills Pan-Asian diner near UNT campus serving stir fries & noodles with diner's choice of meat.

Topics

Ford Mustang sales continue nosedive

Roseville, Calif. - An American icon is losing its mass appeal. One of America's most celebrated classic cars for roughly 60 years, fewer Mustangs are being sold these days.

The UPS Store in Rocklin on Sunset Blvd.

Find directions, store hours & UPS pickup times. If you need printing, shipping, shredding, or mailbox services, visit The UPS Store #1442. Locally owned.

Elks Lodge in Roseville

The Roseville Elks Lodge offers a wonderful social gathering spot for both men and woman where people do know your name while providing community service and charitable giving activities helping kids, veterans and others. Plus the Lodge rents its venue for events, parties, weddings, meetings, etc.

Roseville Music in the Park Concert Schedule 2025

Roseville Music in the Park. FREE summer concert series. Enjoy free family friendly entertainment at Royer Park in Roseville.

Sisters Thai Kitchen in Roseville

Sisters Thai Kitchen, No-frills Pan-Asian diner near UNT campus serving stir fries & noodles with diner's choice of meat.

Bass Pro Shops in Rocklin

Visit Bass Pro Shops in Rocklin, CA for expert advice and top gear in fishing, hunting, boating & shooting. Plan your outdoor adventure today.

Big 5 Sporting Goods in Roseville

Find BIG brands for low prices in sporting gear, fitness equipment, active apparel, and sport-specific shoes and cleats. Buy online or in-store!

BevMo! in Roseville on Douglas Blvd

Shop BevMo.com for wine, spirits, beer & more. Order online and have it delivered or pick up in 30 minutes.

Related Articles

Local Spotlight

Paul Black’s Window Cleaning serving Roseville and South Placer County for over 30 years

Paul Black’s Window Cleaning Inc. has been serving Placer County’s commercial and residential window cleaning needs since 1990.

Mobley Pest Services in Roseville serving the community and region for over 20 years

Roseville, Calif.- Fully licensed and bonded, Mobley Pest Services in Roseville has been providing reliable pest control services for well over 20 years. Serving residents and businesses in the greater Placer and Sacramento region, Mobley Pest Services is locally owned and operated in Roseville.

Stanford Ranch Family Dentistry in Rocklin serving the local community since 2000

Rocklin, Calif.- For nearly 25 years, Jason and Heather have grown their successful Stanford Ranch Family Dentistry practice by faithfully serving patients throughout the Rocklin, Roseville, and greater South Placer County region. Their business has grown to now employ over a dozen employees which helps them meet the growing demands of a successful local business.