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Universal City council adopts 2025 tax rate, approves budget amendments and EDC storefront grant
Summary
At its Sept. 16 meeting Universal City City Council set the 2025 tax rate at $0.53 per $100 of appraised value, approved fiscal-year-end budget amendments and authorized an Economic Development Corporation (EDC) storefront improvement grant tied to the Loop 1604/West Bird Boulevard development.
Universal City City Council approved three key fiscal items during its Sept. 16 meeting: an ordinance setting the 2025 property tax rate at $0.53 per $100 of appraised value, year-end budget amendments for FY2025, and a $242,000 Economic Development Corporation (EDC) storefront improvement grant for a planned mixed-use development at Loop 1604 and West Bird Boulevard.
The council passed the tax ordinance on second reading, adopting a maintenance-and-operations rate of 0.442 and a debt-service rate of 0.088. Mayor Tom Maxwell called for the vote after a motion and second; the motion carried, and the ordinance was recorded as approved.
City finance staff reported fiscal-year-to-date figures in a staff report included with the meeting materials: as of the report, general fund revenues exceeded expenditures by approximately $3.6 million, a surplus the finance director said was related in part to a $1.7 million reimbursement linked to Chick-fil-A. The report showed ad valorem revenue at $9 million (99% of budget) and water and sewer revenues at roughly 91% and 83% of budget, respectively.
Council also approved FY2025 budget amendments that adjust spending and revenues in restricted funds, including the court security fund, the PEG fund, and state and federal asset-forfeiture accounts. The staff explanation said the adjustments use available fund balances within those restricted funds to cover expenditures that exceeded earlier estimates.
Separately, the council approved Resolution 966 authorizing EDC storefront improvement support for a planned PUD at Loop 1604 and West Bird Boulevard. Staff said the developer must extend a new main power line across US 78 and other property lines; the estimated cost the EDC approved is about $242,000. City staff presented a comparative analysis estimating that, at full build-out, city property tax receipts from the project could be roughly $350,000 per year and that the full project could represent roughly $100 million in private development.
Votes at a glance
- Ordinance 656F-2025 (tax rate): Motion to set the tax rate at $0.53 per $100 of appraised value; seconded; motion carried (vote tally not specified in the record).
- FY2025 budget amendments (various restricted funds): Motion to approve; seconded; motion carried (vote tally not specified in the record).
- Resolution 966-2025 (EDC storefront improvement grant, Loop 1604/West Bird Blvd): Motion to approve; seconded; motion carried (vote tally not specified in the record).
The council took the votes in open session; no roll-call tallies were included in the meeting record for these items. The agenda item materials provided additional financial detail referenced during discussion; council members asked staff clarifying questions about fund restrictions and the scope of the EDC commitment.
Looking ahead, staff noted transfers and outstanding transfers affecting the golf course and venue tax in the fiscal reports, and council members requested follow-up performance reporting from the golf course.
