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City manager reports early payoff progress on STAR bond, ARPA grant distributions and public‑works project updates
Summary
City Manager Mark Westhoff told the commission that March financial statements show STAR bond tax collections ahead of expectations and the STAR bond district may pay off earlier than its original 2036 schedule.
City Manager Mark Westhoff told the commission that March financial statements show strong STAR bond tax collections and that the STAR bond district may pay off more than a decade earlier than its original March 1, 2036 schedule.
Westhoff said, "We're on pace this year to have as good of tax collection in that district or better as last year, which was the best year that we've had on record, and we're on pace to pay off that STAR bond, within the next year at worst." He and staff are exploring options to capture continuing tax increments in the district for local projects once payoff is complete.
Westhoff also noted that the nonroutine…
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