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Finance director outlines city debt, TIF performance and $14M supplemental fund with projected 2028 pressure
Summary
Finance Director Melissa Cabrera told the council the city's TIF loans payable have decreased from about $165M (2014 reported) to roughly $90.2M today, the TIF supplemental fund balance is $14M, and preliminary forecasts show a potential need to transfer supplemental funds to underperforming TIFs beginning in fiscal year 2028.
Finance Director Melissa Cabrera briefed the council on the city’s debt portfolio Monday, reviewing enterprise and governmental debt, recent bond issuances and a TIF (tax increment financing) supplemental fund designed to cover underperforming TIFs.
Cabrera said most debt categories declined through fiscal year 2025 as the city made scheduled payments, but loans and bonds payable rose because of a 2025 public safety bond issuance that financed fire and police projects. She described two finance purchase obligations — a Caterpillar equipment lease and a Motorola radio system lease — noting the Caterpillar lease will be paid off this fiscal year and the Motorola lease remains with less than $600,000 in principal outstanding.
On business‑type debt, Cabrera reviewed Power & Light series (including a 2016D issuance…
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