La Porte EDC approves FY2027 budget with sharp drop in transfers and $3.8M of CIP projects for public notice

Haley presented the La Porte Development Corporation's proposed FY2027 expenditure budget, which staff prepared with assistance from the city manager's office and the finance department. She said the proposed budget features about a 50% decrease in expenditures compared with the current fiscal year, largely because the board plans fewer capital improvement projects and a much smaller transfer to debt service (the board's usual transfers of $750,000–$1,000,000 would be reduced to roughly $130,000 in the proposed budget).

Haley said staff expects the proposed fund balance at the end of the fiscal year to be a little over $7,000,000 (about $1,400,000 more than last year) and that revenue is expected to increase by approximately 0.23%. Staff identified $3,807,050 in capital improvement projects that touch multiple parts of the community (fencing at the depot, playground replacements, arena improvements, parking lot lights, golf course work) and asked the board to approve publishing a 60‑day public comment notice to begin the statutorily required comment period; the board approved publishing the notice for 12 projects totaling $3,807,050 and adopted the budget as presented (motions passed 5–0).

Separately, staff requested an amendment to the golf course land improvements project to add $110,186 (bringing the project to about $320,000) to cover additional golf cart path repairs; the board approved that amendment and will publish the related public notice as well.