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Universal City Council approves EDC FY2027 work plan and roughly $6 million budget
Summary
The council approved the EDC FY2027 work plan and a balanced budget of approximately $6 million covering business-support programs, right-turn lane engineering, and a store-front improvement program; EDC staff noted $50,000 for a formal business development program and $1,200,000 set aside for anticipated storefront reimbursements.
The Universal City Economic Development Corporation (EDC) presented its FY2027 work plan and a proposed balanced budget of about $6,000,000. The EDC presentation described revenue sources (sales tax, interest, bond proceeds, rent and event revenue) and identified priorities drawn from the UC Vision 35 comprehensive plan, including a formal business development and support program, the Pat Booker Road master plan, and transportation-related studies. "So total revenues and expenditures balance out and it's approximately $6,000,000," the presenter said.
Line items highlighted in the presentation included $50,000 for a new business development program and an anticipated $1,200,000 in storefront-improvement reimbursements for prior large-ticket grants that recipients have not yet claimed. The EDC also described use of funds for promotion, subscriptions (CoStar/LoopNet), Placer AI, CitiBot and other tools. After a brief discussion and a motion, the council voted to approve the EDC work plan and proposed FY2027 budget.
