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Downtown board weighs 3.2% assessment increase to match city CPI
Summary
Petoskey City downtown staff proposed a 3.2% assessment (matching the city's budgeting CPI) that would raise roughly $4,000 next year; board members asked for clarification on the CPI source and gave staff direction to incorporate the city figure unless otherwise advised.
Amy Tweeten, the downtown director, presented an early draft of the DMB budget and recommended a 3.2% consumer-price-index adjustment "which is what the city is using in their budgeting process for next year." She said projected 2026 revenue was about $125,000 and that the proposed increase would add roughly $4,000 to next year’s revenue, asking the board whether it wanted an annual CPI adjustment.
Board members asked why the city figure (3.2%) differed from a one-month Midwest CPI reading (about 5% for May). Staff explained the city relies on a state agency series and said the 3.2% figure was the consistent number used for the municipal budgeting cycle. Members signaled general comfort with using the city's 3.2% for the DMB draft, but asked staff to return with final numbers and clarified projections before the budget is finalized.
