Title
Consider/Discuss/Act on the Fiscal Year 2013-2014 Annual Budget for Tax Increment Reinvestment Zone Number One (TIRZ No. 1 / Town Center TIRZ)
Summary
MEETING DATE: September 17, 2013
DEPARTMENT: Financial Services
CONTACT: Rodney Rhoades, Chief Financial Officer
RECOMMENDED ACTION:
· Approval of the proposed FY14 Budget
ITEM SUMMARY:
· This item was tabled from the August 19, 2013 meeting.
· Expenditures are budgeted at $225,500.
· Planned revenues are $553,986 which will add to fund balance.
BACKGROUND INFORMATION:
· Fund balance is critical for the issuance of future debt for larger scale projects within the zone.
· An allocation for relatively smaller economic development projects has also been made to provide for revitalization and development of underutilized properties.
FINANCIAL SUMMARY: N/A
BOARD OR COMMISSION RECOMMENDATION: N/A