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Urbana moves TIF closeout accounting and approves $1.1M fire engine purchase
Summary
Council approved Budget Amendment No. 7 to move pre-existing TIF commitments into a post-closure fund (including $6.39M port to central TIF) and authorized Budget Amendment No. 8 to purchase a stock fire engine using $1.1M from the Vehicle Replacement Fund (VERF).
The Urbana City Council approved several budget amendments tied to TIF closeout and a capital equipment purchase.
Finance staff summarized Budget Amendment No. 7, which moves projects and commitments made before the Tax Increment Financing (TIF) closing into a post-TIF-closure fund in order to track outstanding obligations. The amendment moves $6,390,000 to central TIF accounting and keeps prior commitments (for example, a $12,615 contribution to Experience Champaign-Urbana listed under economic development) in a separate post-closure fund to ensure they are fulfilled. Staff agreed to provide fuller central-TIF totals on request.
On capital replacement, the council approved Budget Amendment No. 8 to purchase a new "stock" fire engine. Fire and fleet staff reported the 2002 apparatus has required nearly $100,000 in repairs over the last four years, parts are increasingly difficult to find, and lead times for custom apparatus are now three to four years. Purchasing an already-made stock engine will save roughly $200,000 compared with buying a new custom chassis and will reduce lead time; the council authorized $1,100,000 from the Vehicle Equipment Replacement Fund (VERF) for the purchase.
Council discussion touched on surplus/disposition of the old engine and the need to maintain the reserve fleet. The motions passed on the regular agenda.
