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Council moves to restore $1.3M to economic development fund and considers chamber lift
Summary
Council gave preliminary direction to transfer approximately $1.3M back into the economic development fund to restore capacity and discussed increasing Chamber support (staff recommended a midyear review if council adds funding). Council also floated using TIR balances or liquor-tax reallocations as longer-term options.
Council agreed to restore a large one-time balance to the city's economic development (ED) fund and to explore options for longer-term ED funding.
After discussion staff and council coalesced around a one-time transfer of approximately $1.3 million to replenish the ED fund and remove a general-fund subsidy; the transfer was presented as a stop-gap to allow the chamber and a soon-to-be-hired economic-development director to pursue business retention and recruitment. Council members discussed alternatives including sweeping TIR balances or reallocating liquor‑tax revenues but noted legal and timing constraints; staff confirmed some TIR sweeps are possible but require procedural steps. On partnership funding, council tentatively increased the Chamber of Commerce line and asked staff to structure any increase to allow midyear adjustment tied to results and additional partner contributions.
