Council gives first reading to budget amendment moving TIF funds for park monument and city hall renovation
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Summary
The council presented (first reading) an ordinance to amend fiscal year 2025 budget to appropriate remaining Tax Increment Financing (TIF) District 1 balance: $25,000 for a Riverside Park dedication monument and $2,300,000 toward new city hall renovations; vote scheduled for next week.
GADSDEN, Ala. — The Gadsden City Council on Tuesday took up the first reading of an ordinance that would amend the fiscal year 2025 budget to spend remaining funds from Tax Increment Financing (TIF) District 1: $25,000 for a Riverside Park dedication monument and $2,300,000 for renovations to a new city hall.
Council members said the TIF legal structure is being redrafted in coordination with Etowah County and described the appropriation as a “use it or lose it” situation for the district balance. The ordinance was presented for first reading; the council will vote on final adoption at next week—s meeting.
What it would do: The ordinance allocates the remaining District 1 TIF balance to two projects — a $25,000 park dedication monument and $2.3 million toward city-hall renovations — drawn from the TIF district account. City staff noted the legal department is coordinating with the county on TIF administration.
Council process: The measure was presented for first reading only; no final vote was taken at the meeting. Council members emphasized the need to use available TIF funds and to complete the legal coordination with Etowah County before final adoption.
Next steps: Final council vote is scheduled for the next regular meeting. The city legal department and finance staff will complete TIF paperwork with the county before the council finalizes the appropriation.