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Council amends FY25 budget to reimburse East Maple Estates and pay Rose Complex invoices
Summary
The council adopted an ordinance amending the fiscal year 2025 budget to authorize reimbursements and administrative allocations for Tax Increment Reinvestment Zone (TIRZ) tiers 3 and 4 and to cover final invoice and demolition costs for the Rose Complex.
The Tyler City Council on June 11 approved an ordinance amending the fiscal year 2025 budget to authorize reimbursements and administrative allocations tied to Tax Increment Reinvestment Zone (TIRZ) tiers 3 and 4 and to cover invoices for the Rose Complex.
City staff presented several requested amendments: reimbursement to Tier 3 for East Maple Estates up to $1,000,000 (previously approved in November), Tier 3 administrative expense of $10,000, Tier 4 administrative expense of $15,000, payment of a final invoice for Rose Complex Phase 1 (invoice number presented as 01/5698) and demolition funding for Rose Complex Phase 2 in the amount of $125,000.
A city staff presenter identified as Lauren summarized the changes and recommended the council adopt an ordinance amending the current fiscal year budget for those projects. Councilmembers moved, seconded and approved the ordinance as presented.
The ordinance will permit the city to process the listed reimbursements and expenditures in FY25. Specific contract or payment timing beyond staff authorization was not specified during the meeting.
