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City introduces ordinance for $3.5 million supplemental appropriation, mostly for Homestead TID projects
Summary
Finance Director Ainsley presented Ordinance No. 6689 introducing a $3.5 million supplemental appropriation, roughly two-thirds for Homestead TID improvements (including a fire station and park), $150,000 for demolition, and about $428,000 for accelerated road projects.
The Legal & Finance Committee introduced on first reading Ordinance No. 6689 on Oct. 1, a supplemental appropriation totaling $3.5 million. Finance Director Ainsley told the committee that roughly two-thirds of the requested appropriation would fund work associated with the Homestead Tax Increment Financing (TIF) district, including infrastructure and a fire station and park improvements. A separate $150,000 allocation would fund demolition activity for substandard structures, and approximately $428,000 would be used for road projects that moved ahead of the original schedule.
Ainsley summarized the major categories and noted that most of the Homestead TID spending aligns with previously approved TID terms and project budgets; the item before the committee was the documentation and authorization to proceed with the supplemental funding. Committee members asked clarifying questions and then approved the ordinance introduction on voice vote.
The ordinance will appear for further readings and final action at subsequent council meetings as required by municipal ordinance procedures.
