Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
Vermillion pledges $100,000 annually to Grow Vermillion campaign through 2029
Summary
The city council approved a resolution pledging $100,000 per year from 2026 through 2029 to the Grow Vermillion capital campaign; staff noted $75,000 of each yearly pledge would be drawn from the bed/board/boost fund and $25,000 from the second penny fund unless the council later designates a different source.
The Vermillion City Council voted Jan. 6 to adopt a resolution pledging $100,000 per year to the Grow Vermillion capital campaign for 2026 through 2029.
City staff said the pledge would be structured as $100,000 annually, with $75,000 proposed each year to come from the "bed, board, and boost" fund and $25,000 from the city’s second penny fund, though staff noted the council may designate a different funding source in a future year. Staff also told the council that future governing bodies would not be legally bound to the pledge or the exact amount.
The council's action follows previous contributions: staff recounted earlier Vermillion contributions to prior Grow Vermillion campaigns and said a $100,000 contribution for the 2025 budget is already included. Jim Peterson of the Vermillion Chamber/Development Company (VCDC) had provided an update to the council at the Dec. 16 meeting and requested consideration of the 2026–2029 contributions.
A council member said the pledge represents an investment in the community but expressed a concern shared by other members about ensuring the funds remain available in future budgets. Councillor John Wayne moved to approve the resolution; Councillor Toller seconded. The motion passed by voice vote; individual roll-call tallies were not recorded in the meeting transcript.
Staff will reflect the pledge in budgeting for the specified years, subject to the council’s future decisions about funding sources and amounts.
