Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Committee forwards EDA request to borrow $14.7M for Diamond District parcel purchase
Summary
The committee voted to forward an ordinance to transfer $14.7 million from contingency to support an EDA short‑term loan to complete a $25 million purchase of a Sportsbacker parcel; council members questioned whether contingency rules and a 10‑year repayment schedule comply with city ordinance.
The Finance and Economic Development Standing Committee voted to forward Ordinance 20 26 041 to full council with a recommendation to approve. The ordinance amends the FY26 general fund by transferring $14,700,000 from the contingency reserve to create a line item supporting the Economic Development Authority’s (EDA) redevelopment of the Diamond District.
Sharon Ebert, deputy chief administrative officer for planning and economic development speaking for the EDA, described the 67‑acre Diamond…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
