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SLDC authorizes budget amendment to shift Smart Financial Center debt service and reimburse salary costs
Summary
The board authorized a budget amendment moving remaining Smart Financial Center debt service from hotel occupancy tax funding to SLDC funds and approved salary reimbursement for the director of special projects, a change staff said totals roughly $800,000 in additional expenditures in FY25.
Justin Mehrotra, presenting on behalf of staff, requested a budget amendment to shift remaining debt service payments for a 2014 issue that funded the Smart Financial Center from hotel occupancy taxes to the Sugar Land Development Corporation (SLDC) and to add the director of special projects position to personnel eligible for SLDC salary reimbursement.
Mehrotra said roughly $77.6 million was issued across three issues…
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