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City manager outlines tight budget, possible TOT ballot measure and steps to limit reserve draw
Summary
City staff previewed the FY 2026‑27 budget: they aim to avoid drawing reserves, may pause hiring, and noted a council‑directed potential ballot measure to increase transient occupancy tax by up to 2% (estimated near $8 million in peak years but roughly $8M forecast for next year); commissioners probed sales‑tax weakness tied to the Galleria and constraints on incentivizing businesses to relocate.
A city official presenting the budget preview told the commission staff will deliver the fiscal‑year budget to the council in the coming weeks and that the administration is aiming to avoid drawing from reserves by pausing hiring and refining revenue and expenditure estimates.
The presenter said the council directed staff to place a transient occupancy tax (TOT) initiative on the ballot that could increase the local…
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