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Council approves FY25 budget amendment; staff proposes repurposing downtown escrow to shore up water/sewer CIP
Summary
Council approved an FY25 A3 budget amendment and an adjusted FY25 appropriation tied to the B & B movie‑theater tenant improvements. Staff proposed repurposing $1.2 million of downtown escrow to partially cover urgent water and sewer capital needs while leaving about $200,000 to pre‑wire a future outdoor screen; council members signaled general support and asked staff to include the change in June budget scenarios.
The governing body voted to approve a Fiscal Year 2025 A3 budget amendment and an adjusted fourth‑quarter 2025 appropriation on May 20, formalizing up to $1,325,000 of tenant‑improvement funding tied to the B & B (BNB) movie‑theater project. City staff said BNB submitted an initial reimbursement tranche of $775,000 and that roughly $550,000 remains to be requested in FY26 as the project progresses.
Why it matters: the BNB reimbursements were originally budgeted from ARPA funds; because the developer’s reimbursement timing extended past the ARPA closeout deadline staff reallocated the ARPA‑earmarked funds to other CIP items and are now adding the BNB reimbursement back to the FY25 budget using the general fund's unassigned fund balance…
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