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Greenwood EDC hears warnings of revenue hit; plans to keep 2026 budget flat
Summary
Commissioners were told property tax changes will reduce municipal revenue in 2026 and discussed keeping the Greenwood EDC budget flat, with a $5,000 promotional allocation and potential deeper cuts in 2027.
City staff told the Greenwood Economic Development Commission that recent property tax reports will reduce revenue streams in 2026, and the commission’s intention is to keep its fiscal year 2026 budget flat.
“Our intention for the EDC budget is to remain flat for, for fiscal year 2026, keeping the promotional budget at 5,000,” a city staff member stated while presenting the proposed budget outlook. Staff said the city has frozen salaries and is delaying capital expenditures; the more significant revenue shortfalls are expected in 2027.
Commissioners asked for clarification about what the commission may fund from its promotional line. Chair asked, “We definitely cannot fund anything for a specific business, just an individual or 1 entity. Is that correct?” City staff replied, “I have to look into, but, yeah, I I don't think we have any provisions right now for doing, like, a direct grama Right. Tie in appeal to anybody. Yeah. It's it's more of trying to promote as a whole the come to Greenwood, build your business here, expand your business here.”
Staff added that expenditures must be defensible to the state board of accounts and that certain categories (for example, campaign activity or alcohol purchases) would be limited because the funding comes from tax dollars. Commissioners and staff discussed possible uses within that scope, including community‑level advertising, workforce promotion and quality‑of‑life projects that attract residents and businesses.
No formal budget decisions beyond holding the 2026 line items flat were made at the meeting. Commissioners agreed they would consider additional requests for remaining fiscal‑year funds at a future meeting.
