It took only a few minutes but it was a vote by the Monaco municipality elected officials that was greatly reassuring to the traders in the Principality. They need all the help they can get in this unique 2020 Covid-19 world.
No Rent Increases for Market Traders
It is now official that Monaco City Hall will not increase market prices in 2021. Exceptionally, there will be no increase the rental rates for traders in the hall and markets.
Whatever it takes to stimulate the economy. The many businesses frequented by Monegasques and residents could be vulnerable if their rents would climb. It is clearly not desirable to have price increases at this time and the measure will also help protect consumers from price increases.
Funds Estimated for Continued work on the Exotic Garden
An official appeal was also made to the municipal financial fund for 710,000 euros to replace and reinstall all the footbridges in the Exotic Garden (50,000 euros) and destroy the imitation rocks (660,000 euros).
Work is already underway. The Garden has been closed until 2021 to comply with an array of safety recommendations.
The work is made necessary following an audit concluding that there is imminent danger concerning some of these footbridges, as well as certain of the false rocks whose internal iron braces and mesh had corroded.
Funding of 450,000 euros had already been entered in the budget to start work on the footbridges. This latest call for funds, just voted on, will complete the amounts required.
The Municipal Financial Fund
The municipal financial fund is kept at healthy levels by the Municipality’s surplus revenue that is calculated at the end of each financial year – in addition to the financial income the fund itself accumulates.