Addressing $10 million budget shortfall, Pearland to consider reallocating federal grant funds, debt restructuring
Pearland Mayor Kevin Cole, shown speaking at a event in the spring, says he wants the city to make the right steps to address a $10 million revenue shortfall caused by overvaluation of property values by $1.3 billion.caused when property appraisals for the Harris County portion of the city were erroneously inflated by $1.3 billion.
“My thought was, let’s slow down, understand what happened and not have a knee-jerk reaction to it, and let’s make a plan that makes sense,” he said. The city says Pearland employees' salaries won't be impacted and that the issue will not disrupt planned timelines for hiring new employees.
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