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West Haymarket JPA adopts $2025–26 operating budget, CIP with modest revenue increases and capital carryovers
Summary
The JPA approved its 09/01/2025–08/31/2026 operating budget and capital improvement program, projecting modest revenue growth and funding arena Wi‑Fi, canopy renovations, parking repairs and a loading dock fix; the motion passed 3-0.
The West Haymarket Joint Public Agency approved its proposed operating budget and capital improvement program for the fiscal year 09/01/2025 through 08/31/2026 (bill WH25‑21) on a 3‑0 roll call.
Staff described the budget as reflecting “sensible assumptions” and historical data. Total revenue in the proposed budget was presented as increasing by about 1% over current year projections. Staff said the occupation tax assumption uses a 2% increase over current year projections and parking revenue is budgeted with a 1.7% increase. Staff also noted miscellaneous revenue was reduced by about $550,000 because an operating increment from Pinnacle Bank Arena that had previously been returned to the JPA was not included in miscellaneous revenue for the coming year.
On expenditures, staff said the materials-and-supplies budget includes a $460,000 annual allotment to Pinnacle Bank Arena for technology and security equipment, replacement TV video walls, outdoor furniture for the Capitol Terrace, food-and‑beverage equipment, and rolling risers previously used at Pershing. The other services category includes items such as payments to city staff who support the JPA, management services (including IMG), parking services and about $3,100,000 for District Energy Corporation thermal services. Approximately $890,000 was identified for building maintenance related to the Pinnacle Amtrak station and $1,500,000 was identified as a transfer for the Sandhills Global Youth Complex.
Capital investments total several categories. Parking capital includes a $529,000 line for concrete repair and sign replacements with $184,000 of that budgeted as parking equipment. Pinnacle Bank Arena capital was presented at $2,421,000, with about $1,900,000 tied to the Wi‑Fi project and remaining items described as suite lobby furniture, electrical enhancements, loading dock repair ($100,000), rekeying ($25,000), storage improvements ($70,000) and fire alarm code maintenance ($100,000). Grounds improvements were listed at roughly $1,200,000, with $600,000 for canopy renovation projects and additional lighting repairs and upgrades on the bridge and plaza.
Board members asked clarifying questions. One member asked why “other building maintenance” fell from $1.6 million in the current budget to $937,000 in the proposed budget; staff said the figure fluctuates year to year and promised to follow up with a detailed explanation. Another member asked for a blended interest rate on outstanding debt; staff reported approximately $283,000,000 in principal outstanding and that coupon rates for the series range from about 2.4% up to 5%, and agreed to provide a weighted average rate at a future meeting.
After public-comment opportunity produced no speakers, the board moved approval. The motion carried on a roll call of 3 to 0.
