As treasurer for the Corporation of Hamilton Mark Melo describes his job as `'a balancing act".

Mr. Melo, who is a chartered public accountant, has been holding the City purse strings since July of last year.

Based on the Corporation's status as "not-for-profit entity", Mr. Melo said he must achieve a balance in matching the Corporation's revenues and expenses.

In addition, Mr. Melo said the Corporation has to weigh its policies and projects against the sometimes "conflicting objectives" of those who work, shop, live and own property in Hamilton.

Mr. Melo added that the City must now also take in to consideration the Hamilton plan - including the rezoning of certain areas - recently completed by Government.

"We do listen to people's input and look at what impact their suggestions may have. We are constantly trying to balance and put in place policies that are fair and benefit everyone. It can be a tough job," he said.

A job made tougher with tighter revenue expectations following the corporation's announcement early in the New Year that City taxes would not be going up. Under normal circumstances the tax rate would see an annual increase in keeping with cost of living increases, but Mr. Melo said: "The fall out from September 11 has been that a lot of shops have closed. It has been a very difficult year (2001) indeed for the city's retailers, and this is seen as one way of helping to ease their burden along with that of the city residents." He added that the move to not increase taxes - which will benefit both the city's retailers and offices - could leave the Corporation in the red for the year: "The city will have increased costs at a time when we also have to meet the cost of financing the new Wastewater Treatment Plant. But, every effort will be made to keep spending to a minimum and to economise wherever possible.

"It is anticipated that the Corporation will finish the year with a slight deficit, mainly due to capital projects, specifically the completion of the Wastewater Treatment Plant, part of which has been paid from previous years surpluses.

Mr. Melo said the Corporation had three principal revenue streams: Two-thirds of revenue comes from taxes and wharfage, which each bring in about $5 million per year. Additional revenue comes from vouchers, permits and rental revenue on Corporation-owned properties.

"At this point Corporation revenues are not down, due in large part to continued strong revenues from goods wharfage, but any negative effects would be more likely to be felt in the next few months. The result of not increasing taxes will mean that the Corporation will be tightening its belt during the coming year." The Corporation has reworked this year's budget based on their being no tax increases in the coming year. He said the Corporation will hold off on upcoming projects if necessary.

Mr. Melo said the Corporation currently has one bond issue, which is listed on the Bermuda Stock Exchange and divided in to US dollar and Bermuda dollar bonds, which matures in 2010.

Although he said there are no plans for further bond issues at this time, he added that could change if there was the need of funding for future capital projects. Speaking of the Corporation's projects, he said future projects are currently being looked at as part of a new five-year strategic plan. "What do we need to do to make sure infrastructure is in place to handle development. We have to be ahead of the game in anticipating what infrastructure will be needed down the road."

Meanwhile the new Wastewater Treatment Plant is now in its final testing phase. And other projects, including the possibility of a fourth level for the Bull's Head car park, could kick off later in the year. But Mr. Melo said projects are pending a study of the City's traffic flow and parking.

"Our intent is to find ways to improve parking and traffic flow. And we also want to increase greenery in the city, and beautification of the City."

As an example of beautification, the Corporation has put in sidewalk planters and is working tiled designs in to new sidewalks. And he said there is the possibility of a new park being created. Speaking of specific areas in the city, he said the pedestrianisation of lower Reid Street was "still on the cards but needed the buy-in of the retailers". The Court Street area, he said, should see "a lot more improvements" over the next few years.