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Toledo URA adopts $916,952 fiscal 2026–27 budget and declares tax increment
Summary
The Toledo Urban Renewal Agency adopted Resolution URA-10 to approve a $916,952 budget for fiscal 2026–27 and included a declaration to collect tax increment; the vote was 5–0.
The Toledo Urban Renewal Agency voted unanimously to adopt Resolution URA-10, approving the agency's fiscal 2026–2027 budget and declaring the agency will collect tax increment. The board recorded a 5–0 roll call vote after a brief staff report.
Staff summarized the action before the board and said, “The budget was approved in the amount of 916,952 dollars.” Director Kaufman moved the resolution and Director Keating seconded it; the President then called the roll and recorded five yes votes. The motion passed 5–0.
The staff report noted the budget committee reviewed the proposal in May and recommended forwarding the plan to the URA. Board members asked technical questions about how tax increment is declared; staff explained the URA increment is calculated from a frozen value by the county assessor and is not expressed as a single city-set percentage. The board closed the public hearing before taking the adoption vote.
The agency will incorporate the adopted appropriations into its URA program for FY2026–27 and proceed with the other agenda items. No public testimony was offered during the hearing.
