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Committee discusses Bay Street shortfall, impact-fee changes and federal grant pursuit
Summary
Committee members and staff discussed a funding shortfall for the Bay Street reconstruction project, possible use and restructuring of impact fees, and parallel grant and appropriation pursuits to cover remaining costs; staff said a new impact-fee ordinance could allow more impact-fee spending on the project if adopted.
Finance committee members discussed funding options for the Bay Street reconstruction project and related capital priorities, including how impact fees and pending grants or appropriations might be used to close a multi-million-dollar shortfall.
A member said a lobbyist had reported the state appropriation under negotiation looked likely to provide $1 million rather than the $3 million the city had requested. Committee members discussed whether to accept a smaller state award or press for more. Staff said the Bay Street…
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