You cannot make a city an attractive place to draw a tax base by cutting services. You have to increase revenues. That said, if cutting must take place, do not fall into the trap of trimming a little off of everything so that nothing is sustainable.
One of the most important, cost-effective, employment-drawing, revenue-increasing, pollutant-free industries this city has is its arts industry. Irrespective of the mayor's cryptic comments about having arts organizations "do more with less" at the Mayor's Arts Awards ceremony in Seattle Center -- and the subsequent decision of Michael Killoren, the most effective leader of the Mayor's Office of Arts and Culture this city has ever seen, to move to DC to work with the NEA (two things that are not coincidental, in my view) -- this region is dependent on its culture for economic security. Otherwise, we just become a rust-belt or Southern city that wagered everything on drawing or keeping an industry with no bargaining chips except reducing or eliminating taxes. The arts, especially those in the mid-range (not the elite too-big organizations like the Rep, Ballet, Opera, Symphony, 5th Ave., Paramount, ACT, SCT, and Intiman) serve the specific purpose of cultural and economic separation. They divine answers to critical issues.