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He also announced the next phase of the much-anticipated Steelpointe project will include 250 waterfront housing units to begin construction this year.
“I think, in many ways, we’ve just begun and we have so much more to do over the next four years,” he told about 350 people gathered for a Bridgeport Regional Business Council luncheon.
After uncovering a $20 million budget deficit days into his term as mayor, Ganim said his team has worked to freeze spending, reduce police and fire overtime and restructure departments without compromising services.
The city is refinancing to will save about $3.5 million this fiscal year and should save $10 million in debt services over the next five years, he said.
“That will put us in a better position to balance budgets going forward,” he said.
The mayor echoed his earlier calls for transparency, including his plan for an Office of Governmental Accountability and the upcoming creation of “Open Bridgeport,” an online portal that will allow residents to see how their money is spent, line item by line item.
Ganim said he plans to invest in infrastructure, including $4.5 million for reconstruction on Water Street, $3 million in sidewalk repairs, state-of-the-art downtown parking meters, school expenditures, beautification and the planned Barnum Avenue train station.
He is fostering partnerships with institutions of higher education, including the University of Bridgeport. Ganim mentioned the university’s connections to the $50 million federal grant to make improvements in the city’s South End, the largest federal grant the city has ever received.
The city will also receive an estimated $10 million in annual tax revenue from PSEG, which recently announced it will spend $550 million to build a natural gas-fired power station in the South End.
Gamin said the next phase of the Steelpointe development will include a movie theater and a hotel, in addition to the Bass Pro Shops, Starbucks and Chipotle that are already open.
“These new coastline improvements will be part of the backbone of one of the most significant public promenades in the region,” he said.
But there’s work to be done. Pointing out new Police Chief AJ Perez, who was sworn in Wednesday, Ganim said he wants to add 71 more new officers to the 29 he has sworn in in his first three months and increase safety in the city’s public housing.
He also wants to meet with downtown developers to clean up blighted properties along Main Street downtown, including possible removal of some of the artwork on several vacant buildings.
“I’m not satisfied,” he said. “We’ve got to get moving.”
He called on the business leaders gathered to support Bridgeport’s residents and workers.
“Despite extraordinary challenges,” he said, “my administration is looking towards a brighter future for the city that we all love.”
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