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EDA board approves $100,000 levy for 2027 budget after 4–1 vote
Summary
At its June 16 meeting, the Dayton City Economic Development Authority approved a proposed $100,000 levy for its 2027 budget after debate over priorities and reserves; one member voted against the motion. The board also discussed using reserves for a Balsam Gateway sign and timing for property-sale proceeds.
The Dayton City Economic Development Authority approved a proposed $100,000 levy for its 2027 budget during its June 16 meeting, passing the motion 4–1. The Chair moved to accept the proposed levy and budget; a Committee member seconded.
Why it matters: The levy will fund EDA operations and priority projects the board identifies for the coming year. Board members questioned how much of the levy is already spoken for by operating costs and whether reserve funds or future property-sale proceeds should be used for large capital items such as the Balsam Gateway sign.
John Seabold, executive director, summarized staff’s recommendation and the council’s earlier direction: “The council would be supportive of an EDA levy of between 75 and and 100,000. Staff is proposing a levy of a $100,000.” Seabold told the board roughly $23,000 of that proposed levy was not currently earmarked after subtracting operating expenses.
Board members debated priorities inside the $100,000 proposal. The Chair and other members flagged the Balsam Gateway sign as the likely top priority. One Committee member argued for a smaller levy, saying simply, “You need 75,” indicating support for the lower end of the previously discussed range.
Members also discussed the distinction between reserves and budgeted levy funds. Seabold explained that reserves—described in the meeting as roughly ninety thousand dollars available—could be used for a $100,000 sign project, while levy proceeds and proceeds from a potential property sale would be treated according to accounting and timing rules.
The Chair made the formal motion to accept the proposed 2027 budget and levy; the motion carried with one opposition recorded. The mover and seconder were recorded in the meeting proceedings as the Chair (mover) and a Committee member (seconder). The board did not specify individual member names in the public portion of the transcript for the roll-call vote.
What’s next: The adopted levy and budget will guide EDA spending priorities in 2027. Board members indicated staff will continue to refine project priorities and return with details on specific projects and funding sources.
