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Burton DDA debates budget calendar, TIF and investment of $295,000 fund balance
Summary
Members discussed budget timing for the 2025 fiscal year, the possibility of exploring tax increment financing, and options to invest about $295,000 in the fund balance to earn higher returns; no formal budget vote was recorded.
Board members discussed the DDA’s budget timeline, possible tax increment financing (TIF) strategies and whether to reallocate the DDA fund balance to earn higher interest at the authority’s January 2025 meeting.
Katie, city staff, told the board the DDA’s April meeting will fall in mid-April and that the board historically held a public hearing in April; she said she would verify exact controller timelines and follow up at the February meeting.…
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