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DDA reports TIFF revenue nearing $100,000; preliminary 2026–27 budget shows tightening margins
Summary
Staff told the Cedar Springs DDA that tax-increment revenues are nearly double 2017 estimates and presented a preliminary 2026–27 budget that anticipates a revenue shortfall of roughly $20,000 and an estimated year-end fund balance near $90,000.
The Cedar Springs Downtown Development Authority learned Monday that tax increment revenue this year has substantially exceeded the 2017 projection, while staff also warned of an overall revenue shortfall in the preliminary 2026–27 budget.
DDA director Rebecca reported that the 2017 plan estimated TIFF revenue for 2025 at $49,233, but "currently the DDA is bringing in almost $100,000," attributing the increase to property sales and inflation. At the same time, staff said estimated revenue for the coming year is down about $20,000 compared with earlier projections and that final totals will depend on finalized tax rolls.
Staff summarized budget line items including wages for the DDA director and DPW snow removal, proposed event expenses and a $1,500 addition for the Renaissance Festival. Rebecca said snow-removal costs have risen due to a harsh winter and that legal fees would be required should the board pursue demolition grants or development agreements.
The DDA’s projected year-end fund balance was described in the meeting as roughly $90,000 (Rebecca noted it would likely be "just shy" of $100,000 and offered an estimate of about $93,000 depending on actual revenues and expenses).
Board members asked staff to refine predictions and consider priorities for the coming year, including whether to budget for demolition assistance, holiday-light replacement and staffing increases.
Next steps: staff will refine revenue projections once the tax rolls are finalized and will prepare a recommended final budget for future approval.
