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Staff reviews TDD, CID and other small funds; revenues to offset Hawkins Lane temp note
Summary
Staff briefed the council on dedicated district funds (TDD/CID) and said revenues generated in those districts will be used for debt-service and to offset Hawkins Lane temp-note costs; the presentation included recent revenue figures and an intention to adjust budget authority for 2027.
Staff reviewed several small, restricted funds and how their revenues are applied. "Revenues generated within this district are dedicated to repayment of debt issue for the Olympic Park," Speaker 2 said, referring to TDD/TIF-like arrangements tied to the Galleria and Olympic Park debt service.
Speaker 2 described a new temporary TDD for Tanganyika and said revenue is being accumulated until the Hawkins Lane temp note is permanently financed, at which point those dollars will be used for eligible project costs. Staff reported CID/TDD revenues for 2024 and 2025 and projected increases; they also said they will bump up budget authority in 2027 to allow distributions when funds are available. No vote or appropriation on TDD/CID revenues was recorded in the transcript.
