TEDC proposes $8M Legacy Square placeholder, $360K for parking design in draft FY2027 budget

TEDC staff reviewed the draft fiscal‑year 2027 budget, noting available resources of about $34 million that include a starting fund balance of roughly $26 million and projected sales tax and other revenues. "For fiscal year 27, we're estimating $6,500,000 in sales tax revenues... together, that provides a total available resources of approximately $34,000,000," TEDC staff stated.

Major line items included a $175,000 marketing budget (a $25,000 increase), $675,000 in professional services (including a $150,000 carryover for the AIG parking and mobility study), and a $360,000 placeholder for parking lot design (design only). The draft also lists $9.5 million for project grants (about $8 million are previously committed) and a $600,000 allocation for South Live Oak planning (highest & best use, replatting, engineering). For Tomball Legacy Square the draft shows a planning‑level $8,000,000 request that would break down to replatting ($25,000), planned development district creation ($30,000), demolition ($500,000), environmental remediation ($100,000) and $7.3 million left for design and construction activities — staff emphasized the number is a placeholder and that council would approve any projects or contracts separately.

Council members asked for clarification about how much of the proposed allocations are design versus construction, whether placeholders would return for specific approvals, and how mobility and parking planning would be funded and sequenced. Staff said design dollars could be removed or amended at later budget meetings and that significant projects would come back to council for contract approvals.