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Council adjusts capital lines for TIF outlook, schedules follow-ups and adjourns
Summary
Staff adjusted capital-expenditure projections to reflect settlement estimates that could leave the TIF account near $700,000; the committee set follow-up meetings and adjourned unanimously to reconvene at 9 a.m. the next day.
Staff told the committee they reduced some capital-expenditure estimates to align with expected settlement receipts and noted that, if all 2026 budgets are spent, the TIF account could hold about $700,000 at settlement this fall. Members agreed the TIF and other location budgets will need close monitoring.
The committee discussed meeting schedules for further budget work, with some members preferring an Aug. 7 session for a revenue review and others the Aug. 14 date to await salary-study results and LIT numbers. John Collins moved to adjourn until tomorrow at 9 a.m.; John Miller seconded and the motion passed unanimously.
The council approved small, routine items (for example, flowers and memorials) "as is" during the meeting and agreed to circulate updated ledgers prior to the next session.
