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Newaygo TIFA approves amended FY 2025–26 budget, adopts FY 2026–27 budget
Summary
At its April 17 meeting, the Newaygo Tax Increment Finance Authority approved Resolution T2026-02 to amend the FY 2025–26 budget and adopted Resolution T2026-03 to approve the FY 2026–27 budget, endorsing an increase in distributions to the city, county and library to cover an annual payment tied to the Riverbank property.
The Newaygo Tax Increment Finance Authority approved an amendment to its FY 2025–26 budget and adopted the FY 2026–27 budget at a regular meeting April 17 at City Hall.
City Manager and TIFA Director Jon Schneider reviewed packet materials including current-year numbers, a proposed amended budget, year-to-date actuals and the proposed FY 2026–27 budget. Schneider told the board that a key change in the FY 2026–27 proposal is an increase in distributions from TIFA to the City to help cover the annual payment associated with the Riverbank property the City recently purchased; he noted that state capture rules require matching distributions to the County and the Library when TIFA distributes to the City.
The board approved Resolution T2026-02 (amending FY 2025–26) on a motion by Chris Wren, seconded by Ed Fedell. The roll call listed yeas from Mark Brock, Jake Cooper, Bryce Cronk, Ed Fedell, Mary Franklin, Ben Gilpin, Morgan Heinzman, Chad Miller, Tom Postma, Andy Rusk and Chris Wren; John Buckley Jr. and Black Prewitt were recorded as absent. The board then approved Resolution T2026-03 (adopting the FY 2026–27 budget) on a motion by Chad Miller, seconded by Ed Fedell, with the same roll-call result.
Schneider said the packet included a detailed 'Special Projects' line-item list for FY 26/27 and other budget detail sheets. He also provided a project update on several local items in the meeting packet, naming Pocket Park, the Highbank Apartments (behind Leppinks), J&H Gas Station, the Water Service Line Project, the City welcome sign and Surf Internet.
Chairman Morgan Heinzman said the City will consider options for possibly extending the riverfront pathway along the Riverbank property in the future. The board adjourned at 7:33 a.m.
Officials did not provide specific dollar amounts for the increased distributions or for the Riverbank annual payment in the minutes; funding totals and line-item dollar figures were listed in the packet referenced at the meeting but are "not specified" in the minutes.
