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Staff: selling tax credits could nearly close Baldwin City's reserve gap, but it's uncertain
Summary
City staff presented fund-policy shortfalls and said selling available tax credits could generate roughly $385,000 over the 10-year window — potentially helping reach the 15% reserve policy — but cautioned it is not guaranteed and council should weigh multi-year scenarios.
Russ, a city staff member presenting the draft 2027 budget, told council the proposed budget would leave an ending balance of about $281,988 compared with a 15% fund-policy target of $686,006. He said the city holds tax credits that could be sold over a 10-year period and estimated selling those credits could generate roughly $385,000 if the city successfully markets them.
Russ described the sale of tax credits as uncertain and said it was an exercise to show options rather than a guaranteed fix. Councilors and financial advisers urged staff to prepare multi-year scenarios modeling the tax-credit sale, possible building sales, and a 1-mill increase so members can compare temporary fixes against structural revenue changes. The council scheduled one more workshop before the budget hearing to review those scenarios.
