AGENDA CAPTION:
Title
Consider approval of Ordinance 2025-15, on the first of two readings, amending the City's 2024-2025 Fiscal Year Budget to adjust expenditure accounts in the Water and Wastewater Special Services Fund, Community Enhancement Fund and Tax Increment Reinvestment Zone (TIRZ) #5 Fund; including procedural provisions; and providing an effective date.
Body
Meeting date: May 20, 2025
Department: Finance
Amount & Source of Funding
Funds Required: Various, See Exhibit A "Budget Amendment Tracker"
Account Number: N/A
Funds Available: N/A
Account Name: N/A
Fiscal Note: None
City Council Strategic Initiative: [Please select from the dropdown menu below]
Quality of Life & Sense of Place
Public Safety, Core Services & Fiscal Excellence
Environmental Protection
Comprehensive Plan Element (s): [Please select the Plan element(s) and Goal # from dropdown menu below]
? Economic Development - Choose an item.
? Environment & Resource Protection - Choose an item.
? Land Use - Choose an item.
? Neighborhoods & Housing - Choose an item.
? Parks, Public Spaces & Facilities - Choose an item.
? Transportation - Choose an item.
? Core Services
? Not Applicable
Master Plan: [Please select the corresponding Master Plan from the dropdown menu below (if applicable)]
Choose an item.
Background Information:
Prior Council Action:
On December 3, 2024, City Council approved Ordinance #2024-59, to carry forward funds to the FY2024-25 budget that had been obligated in the FY2023-2024 budget but not expended by the end of the fiscal year. Additional funding amendments have been identified to provide:
* $5,000,000 in W|WW funds for cash-funding CIP projects and
* $200,000 in Community Enhancement funds for demolition of unsafe structures.
On March 21, 2025, the TIRZ #5 Board considered and approved an amendment to increase the project plan and reinvestment zone financing plan in the amount of $2,789,485.75 to further enhance the approved Downtown area:
* $1,6...
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