Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
Council approves Sweetwater MDD FY24-25 budget, increases demolition allocation to $300,000
Summary
The council approved the Sweetwater municipal development district’s FY24-25 budget, which projects fund-balance growth to $8.2 million, increases demolition allocations to $300,000 and continues housing and industrial incentive programs.
An unidentified presenter for the Sweetwater Municipal Development District reviewed the FY24-25 budget and program of work and asked council for approval. The presenter said the MDD’s fund balance rose from $7.2 million last year and is projected to reach $8.2 million; revenue growth is driven largely by sales tax and higher interest income. The presentation highlighted project allocations: $3.3 million allocated to housing with $1.6 million disbursed to date; demolition allocations increased from $100,000 to $300,000 in part to support the Lamar Street demolition; facade grants budgeted at $100,000; and industrial incentives remain the MDD’s largest commitment.
Council moved, seconded and approved the MDD budget as presented. The presenter referenced ongoing projects including Creekside (Apple Creek) apartment homes and Farmhouse and noted the district’s continued work on workforce and community enhancements.
