REVERE – City Councilor at large George Colella wants the city to look to one of its biggest employers and the federal government for savings and for money to make major building repairs.The former mayor hopes Revere can join with communities across the nation and lay claim to a fraction of the billions of dollars in federal stimulus money. He hopes stimulus money can cover the cost of replacing the Beachmont School roof, renovating the city Public Works building and restoring Harry Della Russo Stadium’s field, grandstands and masonry walls.He has also proposed reducing the New England Confectionary Company’s tax credit from $233,000 to $116,000 to boost city property tax revenues.His requests are set against the backdrop of a gloomy city financial forecast extending deep into Fiscal Year (FY) 2010, which starts July 1. “In the worst case scenario, we may not have sufficient funds to avoid deficits,” Mayor Thomas Ambrosino informed councilors last month before suggesting the city may need to consider a trash collection fee to raise additional money.”I mention this only to alert the Council that, without some relief from the Legislature, the potential FY’10 problems are so substantial that even massive layoffs might not allow us to make ends meet,” Ambrosino said.The mayor has another project he would like see grab a share of stimulus dollars: Reconstruction of Route 1 skirting the Overlook Ridge development. The $100 million project is years away from construction but Ambrosino thinks it will come closer to reality if the city gives Overlook developer Roseland Properties a zoning incentive to make room in its development for businesses.The rezoning change, called an overlay district, gives Revere a chance to encourage commercial development in Overlook.City Councilors on Monday debated holding off approval of the zoning change out of concern for Roseland’s plans to add another 330 apartments to 700 already located in five-story buildings in the development.”This is going to turn into projects,” said North Revere councilor Charles Patch, echoing concerns that additional apartment will attract families with children who, in turn, will impose additional education costs on the city.Council President Daniel Rizzo said Roseland has offered no indication it plans commercial development in Overlook. But he credited the developer with building the city a new fire station it shares with Malden and contributing money for road repairs and other work.School Superintendent Paul Dakin warned the city may eventually need to build an elementary school in North Revere if it does not steer Roseland away from attracting families to Overlook.Ambrosino told councilors there are fewer than 20 children living in Overlook and warned councilors inaction on the overlay proposal “will virtually guarantee” single family home construction in Overlook.”Without zoning relief we’re never going to create the incentive for commercial development,” Ambrosino said, adding the overlay plan sets the stage for commercial development in Overlook once the highway reconfiguration work begins.