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Council approves $8 million Midlothian Economic Development funding agreement for Heritage Park
Summary
Midlothian Economic Development proposed up to $8 million in infrastructure funding for Heritage Park; after debating cost-estimate concerns and clarifying that no spending is authorized tonight, the council approved the funding agreement 4–2.
A Midlothian Economic Development (MED) representative presented a proposed funding agreement under which MED would make available up to $8,000,000 for infrastructure improvements associated with Heritage Park.
"We're bringing forward an agreement that Midlothian Economic Development would put forward $8,000,000 worth of infrastructure improvement funding that could go towards Heritage Park," the MED representative said, noting the board approved the item 6–0 at its Feb. 9 meeting.
Councilmembers pressed for clarity about timing and cost guarantees. Councilman Ross said he was concerned about approving allocations before the council had a guaranteed maximum price; he indicated estimates approached $9 million and warned against allocating funds without finalized cost information.
Mayor Kauffman clarified the council was not authorizing any expenditure at this meeting. "This is not authorized expenditure of funds," the mayor said. "This identifies available funds should the council support the idea of actually building this park at a later date. So there's no spending of funds tonight authorizing them."
After discussion, the council voted to approve the funding agreement 4–2. The MED representative said actual transfers for eligible funds in the current fiscal year would come back to the council later when associated adjustments are made.
