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Story City Council adopts FY 2026–27 budget and approves multiple infrastructure measures

Story City Council · April 20, 2026

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Summary

At its April 20 meeting the Story City Council unanimously adopted the FY 2026–27 budget and approved a package of resolutions funding street and drainage projects through internal TIF debt and approving contract bonds; the minutes do not state dollar amounts or repayment schedules.

The Story City Council unanimously adopted the Fiscal Year 2026–27 budget for the period July 1, 2026 through June 30, 2027 and approved several infrastructure-related resolutions during its April 20, 2026 meeting at City Hall.

Mayor Mike Jensen opened and then closed a public hearing on the proposed budget after receiving no public comment. The council then passed Resolution No. 26-36 to adopt the FY 2026–27 budget on a motion by Council Member Solberg, seconded by Council Member Abrams. The minutes record a unanimous vote by Ostrem, Phillips, Solberg, O’Connor and Abrams.

The council also approved a series of infrastructure and financing actions, all by unanimous votes:

- Resolution No. 26-37: Approved contract and/or payment bonds for the Broad Street Reconstruction Project Phase IV. Motion by Council Member O’Connor, seconded by Council Member Solberg; the vote was recorded as unanimous.

- Resolution No. 26-38: Approved certain fund transfers in the Fiscal Year 2025–26 budget. Motion by Council Member Ostrem, seconded by Council Member Phillips; the motion passed unanimously. The minutes do not specify the amounts or line items for the transfers.

- Resolution No. 26-39: Authorized internal tax increment financing (TIF) debt for the Broad Street Reconstruction Project Phase IV. Motion by Council Member Phillips, seconded by Council Member Ostrem; approved unanimously.

- Resolution No. 26-40: Authorized internal TIF debt for the Rich Olive Street Extension Project. Motion by Council Member Ostrem, seconded by Council Member Phillips; approved unanimously.

- Resolution No. 26-41 and Resolution No. 26-42: Each resolution authorized internal TIF debt for the Culvert Replacement Project (identified in the minutes as the Storm Water Drainage Improvement Project). Motions were moved and seconded by members listed in the minutes and carried on unanimous votes. The minutes do not include dollar amounts, repayment schedules, or further implementation details for the TIF financing.

All listed motions were recorded as carried by aye votes from Ostrem, Phillips, Solberg, O’Connor and Abrams and no nays. The meeting minutes do not record any debate, public testimony, or opposing positions on these items. Next steps for the approved projects (for example, contract execution, timeline, or funding schedules) are not specified in the minutes.