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Budget committee approves FY26-27 urban renewal budget
Summary
The Depoe Bay budget committee voted to approve the fiscal year 2026–27 urban renewal budget after brief discussion of interest earnings and the purpose of a special payments line, then adjourned the urban renewal portion and opened the city budget meeting.
The budget committee voted to approve the fiscal year 2026–27 urban renewal budget after a short review and moved on to the city budget meeting. A motion to approve was made and seconded; the chair called for aye votes and recorded the affirmative response.
Committee members discussed a small budget coding change and where to place idle funds to earn higher interest. Chair (Speaker 2) noted an interest line in the draft was set at $1,000 but said she expected actual interest could be “closer to 40 to 50,000 if we put it somewhere that gets real interest.” Staff (Kim) said she plans to move more city accounts locally to increase earnings and that renaming a special payments line from “verification” to “revitalization” better reflects the urban renewal intent.
The committee adjourned the urban renewal portion and opened the budget committee meeting for the city of Depoe Bay. The vote on the urban renewal budget was completed without further amendment and is recorded as approved by the budget committee members present.
